Cisco's GIFT to Gujarat

by CXOtoday Staff    Jun 04, 2009

Conceptualised as a global financial and IT services hub, a first of its kind in India, the Gujarat International Finance Tec-City (GIFT) project will catalyse India s large financial services potential by offering to global and local financial services firms infrastructure to tap the opportunity.

 

To further this cause, Gujarat International Finance Tech-City Company Limited (GIFTCL) and Infrastructure Leasing and Financial Services Limited (IL&FS) yesterday signed a Memorandum of Understanding (MoU) with Cisco for the GIFT project in presence of Narendra Modi, Chief Minister of Gujarat.

Cisco will bring together a portfolio of products, services, partners, platforms, solutions and make appropriate investments. It 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, the statement said.

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 centers benchmarked to Tier IV standards, integrated and intelligent townships with high tech city services management, according to a statement.

 

According to CM Modi, GIFT is an ardent reflection of our commitment to building world class institutions and infrastructure to make Gujarat an ideal business destination not only for Indian companies but also for leading international players. A grand project like GIFT is truly a gift for people of Gujarat and India as the benefits will transcend to people across the social strata.  This partnership is a step in the right direction .

 

Wim Elfrink, chief globalisation officer and executive vice president, Cisco Services said, Rapidly expanding infrastructure demands on growing towns and cities is putting increasing pressure on governments and communities. We believe that cities which are run on information will transform the quality of life for citizens, drive economic growth and improve city services and management. Cities like GIFT, that use the network to accelerate and multiply their infrastructure investments, will be those who not only survive challenges but thrive and lead into the future.

 
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Tags: Cisco, Gujarat