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Gujarat CM lays stone of Dalal Street Commercial Co-operative Society Hub at Gift City

“Prime Minister’s dream to convert GIFT City into Global Financial Hub is taking shape, to replace Hong Kong, Dubai, Singapore”

“Need to apply modern technology for transparency and speed”

– Chief Minister

 

Gujarat Chief Minister Vijaybhai Rupani today expressed his desire to convert Prime Minister’s dream of developing GIFT City here into a high-tech global financial services hub, to hum with round-the-clock global business activity, to replace Hong Kong, Singapore and Dubai, and creae huge job opportunities.

Speaking at the foundation laying ceremony of the Dalal Street Commercial Co-operative Society Project, set up by brokers of the Bombay Stock Exchange (BSE), he welcomed the brokers of Dalal Street of Mumbai coming to Gujarat. He said that working in co-operatives is in the DNA of the Gujarati community. He said the application co-operative in brokers working in stock market is sure to succeed.

Mr. Rupani said there is need to apply modern technology in business activities, including stock market, for transparency and speed. He exuded confidence that the GIFT City on the banks of the Sabarmati would rise to the occasion.

He informed that the Centre has announced the decision to set up a Unified Regulator during the Budget Session to develop GIFT City as world-class financial destination. The Gujarat Government has announced cent per cent exemption from Stamp Duty, exemption from Electricity Duty for five years and contribution reimbursement in EPF for companies setting up registered offices in GIFT City.

Mr. Rupani gave details of Gujarat Government announcing as many as 23 incentive policies for pharmaceuticals, diamond, agro food processing and MSME sector, with USD 16.65 billion Foreign Direct Investment (FDI) coming here, growing as Golbal Gateway of India’.

Those present on the occasion included GIFT City Chairman Sudhir Mankad, Dalal Street’s Ashishbhai and others.

Source : Gujarat Information Bureau

Source: Information Department, Gujarat