shri narendra modi inaugurates gift city gandhinagar 2013

Inauguration of tower in GIFT City:- Shri Narendra Modi (LIVE)

Inauguration of tower in GIFT City:- Shri Narendra Modi @ Vibrant Gujarat Global Summit 2013- Gandhinagar


Hon’ble CM’s presence at various events during Vibrant Gujarat Summit 2013

Venue:- GIFT City Gandhinagar

Timing:- 10.00 to 11.30 A.M

Date:- 10th January 2013


Gujarat brings India on the Map of Global Financial Hub with the inauguration of Gujarat’s tallest tower at GIFT City – India’s first global financial hub by Shri Narendra Modi, Hon’ble Chief Minister, Gujarat

Hon’ble CM’s presence at various events during Vibrant Gujarat Summit 2013

Event Finished You are watching the RECORDING of Complete Inaugural Ceremony Video

Shri Narendra Modi Speech during The Inauguration Ceremony of GIFT City Tower, Gandhinagar.

Video Source:- www.narendramodi.in

Editor’s synopsis:

  • Gujarat’s tallest tower (GIFT ONE) at Gujarat International Finance Tec-City (GIFT) will be inaugurated on January 10, 2013 marks the presence of India on the Map of Global Financial Hub’s.
  • GIFT is a globally benchmarked International Financial Service Centre (IFSC) being developed in Special Economic Zone (SEZ) and Domestic Finance Centre (DFC) in non-SEZ area.
  • GIFT Project is spread over an area of 886 acres. The Rs 78,000 crore GIFT Project is expected to create 1 million new jobs in 10 years.


January , 2013: Gujarat once again makes India proud, with the inauguration of Gujarat’s tallest tower by Shri Narendra Modi, Hon’ble Chief Minister, Gujarat on January 10, 2013, India will showcase on the Map of Global Financial Hubs, a proud moment for all Indians. At the time when world is uncertain over the economic growth, state of Gujarat as usual thinks big and unveils the first Global Financial Hub of India to the world.

The commissioning of the first high rise tower followed by a similar tower opening in March, is the first major milestone towards making GIFT the country’s first International Financial Services Centre (IFSC).

GIFT ONE, an initiative by IL&FS Township and Urban Assets Ltd., a wholly owned subsidiary of Infrastructure Leasing and Financial Services Ltd. (IL&FS) has been developed on its own through reputed contractor M/s. Larsen & Toubro ECC (design and building contractor), P G Patki (architect) and Perkins Eastman USA (interior designers).

CONTENT SOURCE:- www.narendramodi.in





India’s Potential in the Financial Services Sector

India’s financial sector has benefited immensely from the last 15 years of reforms. It has witnessed unprecedented growth across all products and segments in the last decade. There has been significant growth in retail banking products, driven by increased demand for basic banking, consumer finance products, and wealth management products. Capital markets have seen a big surge: the equity markets are at all-time highs; increasing numbers of corporates are raising capital to fund their expansion plans; PE firms are actively investing in India; FII inflows into the country have exceeded US$ 8 billion in 2006; and domestic asset management companies are gradually gaining importance. Today the sector is a significant contributor to India’s GDP. It employs over 3 million people, constitutes about 5% of the GDP and has an estimated market capitalization of over $ 200 billion.The IT/ITeS sector in India has also seen phenomenal growth. India has emerged as the top location of choice in the global IT/ITeS sector; it accounts for about 60% of the global offshore IT industry and about 50% of the global BPO market. Almost 40% of this IT/ITeS demand is driven by the banking and financial services sector. Going forward as the offshore and domestic markets continue to grow, we believe that India is very well positioned to capture a large portion of this opportunity.

As India sees continued economic growth, the financial sector is going to grow increasingly larger. By 2020, the sector could comprise a potential 10 million to 11 million jobs – both in the domestic and international financial services arena- and a GDP contribution of about US $350-400 billion with a $ 1.6-1.8 trillion market capitalization. Further, with continued growth and rapid development in technology, an increasing share of financial services opportunity will lend itself to centralization. As per McKinsey & Company’s estimates, by 2020, the sector is likely to offer a potential of about 6 million centralizable jobs across multiple service roles.

Strong Need for Establishment of Financial Services Center

Several countries around the world have successfully unlocked their financial services potential by establishing hubs, which over time have become international financial services centres (IFSC). These financial services centres help provide suitable regulatory regimes and create a business environment to promote talent and help increase capital flow. As these financial services centres develop, they create significant economic value for their domestic economies, e.g., leading financial services centres such as London and New York account for as much as 10% of the total GDP and about 5% of jobs. Moreover, emerging financial services centres such as Singapore and Hong Kong have also been able to achieve similar levels of concentration of economic activity over short periods of time.

While India has enormous potential in financial services as described above, it is currently not in a position to fully realise it. All leading Indian cities are far from measuring up to benchmarks set by successful international financial services centres. They severely lag behind on the quality of infrastructure, are not able to offer the required quality of life, and more importantly are constrained by regulations.

If India is to effectively unlock its financial services potential it would need unrestricted access to globally benchmarked financial services centres, which match international standards in infrastructure, attract quality talent, offer a high quality of life and are supported by a strong regulatory environment.

GIFT’s Positioning

GIFT aspires to catalyse India’s large financial services potential by offering to global and local financial services firms world-class infrastructure to tap the opportunity and best-in-class quality of life to attract top talent in the country. Like all leading financial centres GIFT will target a 6-8% share of the financial services potential in India. This would result in creation of ~ 500,000 direct and an equal no. of indirect jobs requiring upto 91 million square feet of real estate office and residential space. The proposition targeted by GIFT is compelling and will comprise of the following aspects:

arrow blue Robust Urban Planning:
arrow orange Narmada Main canal
arrow orange Unique building skyline of its kind in the region;
arrow orange Concept of Self -Sustainable City
arrow blue Infrastructure Provision
arrow orange Transportation system;
arrow orange District Cooling System;
arrow orange Domestic Gas Network;
arrow orange Captive power plant and
arrow orange Riverfront
arrow blue Integrated with a Technology Backbone for a tech-finance hub:
arrow orange Data Centers;
arrow orange Shared Infrastructure;
arrow orange Highly secure;
arrow orange Future-proof and
arrow orange Scalable
arrow blue Energy Conservation Measures: Reduced per capita energy consumption
arrow blue Comprehensive Water management plan incorporated to achieve self-sustainability
arrow blue Integrated township bestowed with the best of social and physical infrastructure.
arrow blue Proactive talent management to produce industry-ready graduates across various job profiles, by partnering with government, universities, industry associations and finishing schools


The Project has been globally benchmarked with International Financial Centres. GIFT also envisages to become a hub for IT/ ITES for Financial Services and other multi services sector. GIFT is expected to generate around 0.5 million of direct jobs and equal number of indirect jobs. While integrating their best features, GIFT also envisages creating high-quality city environment with best in class infrastructure. The Project thus, would set standards for Sustainable Business Environment.


The vision of GIFT is to be achieved through the following objectives, which are enumerated as follows:

Propelled by a competitive economy anchored on commerce and related industry, GIFT, envisaged to be developed as an Eco-City, will serve as a Vibrant Hub and as a habitat showcasing family oriented, environmentally-sensitive growth with equity.

Target Business Segments

The various business segments that are proposed to be targeted by GIFT and nature of opportunities in each of these business segments are enumerated as follows:

arrow blue To develop a road map for fast track implementation
arrow blue To develop a new format for globally benchmarked Integrated City;
arrow blue To aggressively target all the financial services opportunity types suitable for centralization, ranging from back office operations and IT support to high end jobs in evolved product markets like trading, private banking etc.
arrow blue To make the city hugely scalable in each and every aspect for a distant future and create a much larger carrying capacity;
arrow blue To derive the city format from fast changing lifestyles and new technologies;
arrow blue To achieve an image of Global city, that keeps pace with modern technologies
GIFT-Target Business Segments
Business Nature of Opportunity
Financial Services Back-office of banking, Insurance and Asset Management Companies
Financial Services Corporate roles in financial services companies. E.g. Accounting, HR, Admin, IT
Select Product Market Private banking, Product development, Microfinance etc.
Capital Market and Trading Includes DCM, ECM, M&A, Commodity trading, Private Equity, Hedge Funds, Institutional brokerage
IT services Software Application development and maintenance for BFSI and other verticals
ITeS/ BPO Services Captive BPOs of large global financial services companies, 3rd party BPO service providers, KPOs etc.
Source: McKinsey Study for GIFT ProjectIt is estimated that the financial services industry would generate about 9 to 11 million jobs by 2020 and would require about 800 mn sq ft of office space all over India. GIFT aspires to capture a modest share of 6 to 8 per cent of these opportunities and would result into about 0.5 million direct jobs. It is also estimated that ancillary and support services would add similar job opportunities
GIFT-Employment Opportunities
Sr. No. Financial Services Estimated No of Jobs (Thousands)
Year 2020
1 Core Financial Services Financial Services Operations 125-150
2 Financial Services Corporate Centre 100-125
3 Select Product Markets 10-15
4 Capital Markets & Trading 2-4
5 IT for Financial Services 200-225
6 ITeS for Financial Services 75-100
Total 500-600
Source: McKinsey Study for GIFT ProjectAn additional 5,00,000 indirect jobs is expected to be created by 2020

To comment and Interact With Our C.M. Shri Narendra Modi kindly visit www.narendramodi.in and register yourselves.

Video Source:- www.narendramodi.in

Content Source:- www.narendramodi.in,  www.giftgujarat.in

To comment and Interact With Our C.M. Shri Narendra Modi kindly visit www.narendramodi.in and register yourselves.


Inauguration of tower in GIFT City:- Shri Narendra Modi @ Vibrant Gujarat Global Summit 2013- Gandhinagar

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