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Bank of America opens Global Business Services Centre at GIFT City in Gandhinagar

    Gujarat Chief Minister Vijay Rupani inaugurated the Bank of America’s Global Business Services Centre at the Gujarat International Finance Tec-City (GIFT City) .

    Speaking on the occasion, he described the event as a milestone for Gujarat. America’s leading bank starting its operation from India’s first International Financial Services Service Centre (IFSC) of its kind at the GIFT City here would attract other leading global firms setting up their offices here.

    Mr. Rupani said that GIFT City is a brainchild of Prime Minister Narendra Modi when he was the Chief Minister of Gujarat. It is over the years emerging as a Model Greenfield Smart City. It is set become not only India but also Asia’s leading financial and IT services hub. He gave details of IT Park being set up over 6-lakh square feet area at the GIFT City.

    Mr. Rupani said that Gujarat Government is keen to offer initiatives and create regulatory framework at the IFSC for other firms to set up their global centres here. He said that Gujarat occupying only five per cent of land mass contributes to 7.7 per cent of India’s GDP. The state has received 18,000-crores FDI during Q1 of the current financial year. It has been possible because of Gujarat Government’s transparent business-friendly incentives to Gujarat with world-class infrastructure facility during the last 15 years.

    Chief Secretary Anil Mukim said that Bank of America becomes the first foreign bank to start operation at the Special Economic Zone like GIFT City, a dream project of Prime Minister Narendra Modi conceived and commissioned when he was the Chief Minister of Gujarat. He extended all possible assistance to Bank of America’s Chief Operation and Technology Officer Catherine Bessant said her bank started its business in India in a very small scale in 2004. GIFT City becomes its fifth city after Hyderabad, Mumbai, Gurugram and Chennai. She said that Indian scientists,

    engineers and managers have become the favourites of job-providers. Nearly 30 per cent of their staff at their global business service centres are Indians. She praised Gujarat’s approving MSME units online in a matter of seven  inutes.

    Those present on the occasion included GIFT City Chairman Sudhir Mankad, Additional Chief Secretary for Urban Development Mukesh Puri, Chief Minister’s Principal Secretary M.K. Das, Housing Development Secretary Lochan Sehra, Bank of America’s Country Head and President Kaku Nakhate, among others.

    Source: Information Department, Gujarat