Gujarat partners Cisco for GIFT project

Mumbai: Gujarat International Finance Tec-City Company Ltd (GIFTCL) and Infrastructure Leasing and Financial Services Ltd (IL&FS) signed a memorandum of understanding (MoU) with Cisco for the Gujarat International Finance Tec-City (GIFT) project in presence of Narendra Modi, CM of Gujarat.

Under the MoU, Cisco will collaborate with GIFTCL in achieving GIFT's vision of becoming a world class financial services center, with infrastructure and facilities benchmarked to global standards.

Narendra Modi, Chief Minister of Gujarat said, “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. The partnership between GIFT and Cisco, a leading global IT player, is a step in the right direction.”

Wim Elfrink, Chief Glottalization Officer and Executive VP, 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. We are honored to join hands with the government of Gujarat and IL&FS to help build this city of tomorrow.”

Speaking on the occasion Sudhir Mankad, Chairman, GIFTCL said, “GIFT will be developed as an intelligent city, which will transform the quality of life, and offer financial services enterprises a significant competitive advantage to operate regionally and globally. We are looking to work closely with Cisco, in developing a world-class financial services center. We are delighted to partner with a world technology leader like Cisco in this important initiative.”