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Gujarat International Finance Tec-City Company Limited (GIFTCL) and Infrastructure Leasing and Financial Services Limited (IL&FS) signed a Memorandum of Understanding (MoU) with Cisco for the Gujarat International Finance Tec-City (GIFT) project in presence of Shri Narendra Modi, Hon’ble Chief Minister of Gujarat.

Gift-City

Under the MoU, Cisco will collaborate with GIFTCL in achieving GIFT’s vision of becoming a world class financial services centre, with infrastructure and facilities benchmarked to global standards. The State of Gujarat has emerged as the fastest growing region in the country. In addition to housing one of the largest manufacturing bases in India, Gujarat also accounts for a disproportionately large share of the investor and entrepreneurial population in the country. Recognizing the potential of the State as a centre for the financial services industry, the Government of Gujarat formulated GIFT as a mega project to realize this vision. Thus, land (initially 550 acre) between the commercial capital of the State, Ahmedabad, and the Administrative Capital of the State, Gandhinagar, has been allotted for the development of a Central Finance and Business District (CFBD).

GIFT is conceptualized as a global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centers. 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.

GIFT promises to be a Central Business Hub, not just for India but also for the rest of the world. The city is designed to provide next level infrastructure, services and platforms backed by State-of-the art Information and Communication Technology (ICT), Secured and Resilient Data Centres benchmarked to Tier IV standards, Integrated and intelligent townships with high tech City Services management.

Cisco is the worldwide leader in networking for the Internet and Internet Protocol (IP) based networking solutions and is pioneer of the concept of Smart+Connected community practice (also known as Intelligent Urbanisation). Cisco will bring together a portfolio of products, services, partners, platforms, solutions and make appropriate investments. Cisco will utilize its deep industry knowledge in working together with GIFT for establishing a world class city.

The parties will jointly market, develop, implement and explore financing options of the GIFT Project. A joint task force will be constituted to work out legal, technical and financial aspects of this cooperation.

Shri Narendra Modi, Hon’ble…

Courtesy: http://www.financialexpress.com

Gandhinagar:

Gujarat Chief Minister Narendra Modi has announced the setting up of 14 new engineering colleges in the state to empower the youth by providing technical education.

Official sources said here today that Modi made the announcement here last evening after laying the foundation stone of a new engineering college campus to be built at a project cost of Rs 60 crores in Godhra Bypass Way.He said that 14 districts of the state would get one each of engineering college as more skilled workers will be required in the near future after the recently concluded spectacular success of Vibrant Gujarat Global Summit, where the state bagged investment worth Rs 14 lakh crores. This would generate 25 lakh new employments.
He futher added that the state had 33 new Engineering Colleges and 40 new Polytechnics and decision has been taken to increase the engineering seats on Diploma/degree courses from the current 31,840 to 70,122 in the near future.Adding that the Summit ended with a note and indications of ”Bharatna Bhagya Vidhata” (Determinants of the Future of India), Modi expressed his earnest desire that the Centre should understand the spirit of the summit as development of Gujarat will lead to the country’s development.

Curtsy: Nilay Parikh (Yahoo Group – Gujarat_IT_Movement)

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AHMEDABAD:

Hotmail Co-founder Sabeer Bhatia said he looks toward cultural innovation in Gujarat and has plans to develop the state as the next Silicon Valley.

“We have got Letter of Intent (LoI) from Carneige Mellon University for setting up a Nano city that will have software development facility for niche sectors such as nano technology, bio-sciences and material sciences,” Bhatia said, during the inauguration of Vibrant Gujarat Global Investors Summit which began on Monday.

“With world class infrastructure here and support of the Gujarat government, we can make the state as next Silicon Valley of India by setting up a Nano city here,” Bhatia said.

Sharing his experiences on emergence of silicon valley decades ago, Bhatia said the innovation at that time had led to phenomenal creation of value, and the model could be replicated here.

“Five decades ago Hewlett Packard created a small hub outside Standford that led to the birth of Silicon Valley, and in the last 10 years I have seen 1 trillion dollar of value being created because of cultural innovation,” he added.

“India has huge potential for it, with a population of 1.2 billion people we create around half-a-million engineers annually, but somehow they are not able to make to make it to top echelons in key innovative hubs, therefore we need a nano city,” Bhatia said.

The innovation can come through education and the Nano city will play a key role in software development for niche segments.

curtesy: Prashant Tejura (Yahoo Group:- Gujarat IT Moment)

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