What you are looking at is Gujarat International Finance-Tec City – also known as GIFT. The city is a present for the Indian financial services sector. The latest city has been designed to facilitate India in competing with the regional and international finance hubs including Hong Kong & Singapore. The team behind this project will be appealing to the global firms by furnishing them with top-notch quality infrastructure and facilities and a stream of brilliant Indian talent for filling the job vacancies.
The opportunity that Gujarat International Finance-Tec City provides is important; India’s financial sector is progressing rapidly and will be able to generate 11 million jobs and contribute an amount of $400 billion to GDP by 2020. These stats have been released by the team behind this project.
The idea is to create a Central Business District (CBD) between Ahmedabad and Gandhinagar in India’s West by relying on high-quality connectivity, infrastructure, and transport links. By appealing the international investment, the GIFT’s developers believe that they will be able to create about a million direct and indirect jobs in capital markets, IT services, and trading to name a few.
The Gujarat International Finance-Tec City is also trying to take advantage of the rapid economic growth. According to a forecast made by IMF, a growth of over 7% in the current fiscal year that ends in March 2019 is expected.
If things go well, the Gujarat International Finance-Tec City might perform as well as the City of London that was able to take credit for the 50% of the UK sector’s output back in 2017 while providing about 1.1 million jobs. However, there are also incidents where certain projects didn’t attract the traction that their creators had hoped for such as Spain’s Ciudad Real Airport or the ghost cities in China.
Nonetheless, the fact remains that the urban areas must be equipped with the advanced buildings and smart infrastructures that are deemed necessary to make the most of the Fourth Industrial Revolution and creating cities such as Gujarat International Finance-Tec City is a sure shot way of making sure that we are able to take full advantages of the opportunities.
Do let us know what you think of this city!