GIFT and Deloitte sign MoU to promote IFSC operations

GIFT and Deloitte sign MoU to promote IFSC operations
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Singapore's President Tony Tan Keng Yam shakes hands with Mexico's President Enrique Pena Nieto after delivering a speech to the media, during an official welcoming ceremony, at the National Palace in Mexico City, Mexico June 10, 2016. REUTERS/Henry Romero

New Delhi [India]: Gujarat International Finance Tec-City (GIFT) City, India’s first operational smart city and International Financial Services Centre (IFSC) on Monday entered into an MoU with Deloitte Touche Tohmatsu India LLP, which renders consultancy services for mutual cooperation in areas related to international financial services.

The MoU was signed by managing director and group CEO of GIFT, Ajay Pandey, and partner, Deloitte Touche Tohmatsu India LLP, Abhay Gupte, with an aim to assist domestic and international clients to set up operations in GIFT IFSC.

Both entities will also cooperate in the training and in organising seminars and conferences on selected topics for enhancement of the GIFT IFSC.

“We are delighted to enter into an MoU with Deloitte. With GIFT IFSC witnessing a substantial growth in the banking, insurance and capital market space, quality professional services would be required to support the establishment of businesses in the IFSC and their growth,” said managing director and group CEO of GIFT, Ajay Pandey.

“Establishment of GIFT IFSC is one of the major steps towards positioning India amongst the leading financial services centre in the world. With substantial growth of financial services sector in India, we look forward to this association with GIFT IFSC and are glad to be a part of this endeavor,” said partner, Deloitte Touche Tohmatsu India LLP, Abhay Gupte.

IFSC and GIFT City embody the vision of making India a financial services hub.

GIFT City caters to India’s large financial services potential by offering a world-class infrastructure, facilities, financial incentives, uninterrupted connectivity and conducive regulations.

It is a global business district offering the right platform for business opportunities in international and domestic business operations. (ANI)