A fintech hub will be established at Gift City with the support of Asian Development Bank (ADB). The announcement was made by the Finance Minister of Gujrat, Kenu Desai while presenting the budget for the state.
The budget also made a separate provision of INR 15bn for the construction of a riverfront at the GIFT City campus located on the banks of the Sabarmati River.
“A specialised fintech hub will be set up at the GIFT City with an objective to improve the quality of fintech education and research, promote fintech start-up and incubation and evidence-based research technology,” said Desai in his budget speech. A provision of Rs 76 crore was also made for GIFT City.
“GIFT City belongs to the Gujarat government. But we want it to be independent. We have given a lot of land and currently, GIFT City is earning out of that land. So more or less, it is on its own. Land is the biggest asset,” Gupta further said