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{{Update|date=June 2008}}
{{Update|date=June 2008}}


'''Gujarat International Finance Tec-City''' or '''GIFT''' is an under-construction<ref>[http://giftgujarat.in/genesis.aspx GIFT Genesis page]</ref><ref> [http://www.youtube.com/watch?v=njAuY3yxU0k GIFT Video]</ref> city in the [[India]]n state of [[Gujarat]]. It will be built on {{convert|500|acre|km2}} land. Its main purpose is to provide high quality physical infrastructure (electricity, water, gas, roads, telecoms and broadband), so that finance and tech firms can relocate their operations there from [[Mumbai]], [[Bangalore]], [[Gurgaon]] etc. where infrastructure is either very bad or very expensive.<ref>[http://giftgujarat.in/ GIFT Gujarat official website]</ref> It will have a special economic zone (SEZ), international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, [[Software Technology Parks of India]] (STPI) units, shopping malls, stock exchanges and service units.
'''Gujarat International Finance Tec-City''' or '''GIFT''' is an under-construction<ref>[http://giftgujarat.in/genesis.aspx GIFT Genesis page]</ref><ref> [http://www.youtube.com/watch?v=njAuY3yxU0k GIFT Video]</ref> city in the [[India]]n state of [[Gujarat]]. It will be built on {{convert|500|acre|km2}} land. Its main purpose is to provide high quality physical infrastructure (electricity, water, gas, [[district cooling]], roads, telecoms and broadband), so that finance and tech firms can relocate their operations there from [[Mumbai]], [[Bangalore]], [[Gurgaon]] etc. where infrastructure is either very bad or very expensive.<ref>[http://giftgujarat.in/ GIFT Gujarat official website]</ref> It will have a special economic zone (SEZ), international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, [[Software Technology Parks of India]] (STPI) units, shopping malls, stock exchanges and service units.


To develop and implement the Project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and [[Infrastructure Leasing & Financial Services]] ([[IL&FS]]) have established a Joint Venture Company, "Gujarat International Finance Tec-City Company Limited" (GIFTCL).
To develop and implement the Project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and [[Infrastructure Leasing & Financial Services]] ([[IL&FS]]) have established a Joint Venture Company, "Gujarat International Finance Tec-City Company Limited" (GIFTCL).

Revision as of 16:42, 17 February 2010

GIFT City
GIFT
City
Nickname: 
GIFT
Websitehttp://giftgujarat.in

Gujarat International Finance Tec-City or GIFT is an under-construction[1][2] city in the Indian state of Gujarat. It will be built on 500 acres (2.0 km2) land. Its main purpose is to provide high quality physical infrastructure (electricity, water, gas, district cooling, roads, telecoms and broadband), so that finance and tech firms can relocate their operations there from Mumbai, Bangalore, Gurgaon etc. where infrastructure is either very bad or very expensive.[3] It will have a special economic zone (SEZ), international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, Software Technology Parks of India (STPI) units, shopping malls, stock exchanges and service units.

To develop and implement the Project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS) have established a Joint Venture Company, "Gujarat International Finance Tec-City Company Limited" (GIFTCL).

GIFTCL proposes to implement GIFT as a globally benchmarked International Finance City with an eventual built on area of 85,000,000 sq ft (7,900,000 m2). The company plans to develop, finance, implement all infrastructure in and around GIFT on a turnkey basis to ensure that all conceivable services in relation to connectivity, communication, technology, security, services for quality of life etc are established and sustained.

Salient Features

Idea

The idea of GIFT was developed during the Vibrant Gujarat Global Investor Summit 2007 and is being planned by East China Architectural Design & Research Institute (ECADI), which is responsible for planning much of Shanghai, and Fairwood Consultants India.

Electricity

  • The electricity supply is planned to be 99.999% reliable (about 5.3 minutes of outage per year)[4]. GIFT's power grid will be designed by ABB Group of Switzerland. All the electricity cables will be underground. Hong Kong Electric Company is 99.998% reliable since 1998.[5]

Piped Gas

  • Natural Gas will be distributed to every house and building via pipes, which is cheaper and safer than cylinders.

Gas supply to the city will be made from the existing gas network of GSPL, the state own company for gas transmission pipelines. Piped natural gas is already in distribution in the nearby cities of Ahmedabad and Gandhinagar.

Communications and Telecoms

Air Conditioning

  • GIFT will have a centralized AC system, called District Cooling which is cheaper to run and uses less electricity.

Concept

GIFT is being designed as a hub for the global finance services industry. The Project design has benefited greatly from the inputs of a large number of domestic and international experts who have had an opportunity to determine the key needs of Companies in the financial services space. More particularly, connectivity, infrastructure and transportation access have been integrated into the design of the city. An attractive pricing strategy is also being developed to ensure that it is a fraction of the cost that is ordinarily incurred in other Indian and global finance cities.

Its Target Business Segments are:

  • Financial Services Operations (Back-office of banking, Insurance and Asset Management Companies)
  • IT services (Software Application development and maintenance)
  • Capital Markets & Trading
  • ITeS
  • BPO Services
  • KPO Services

Location

The site is 12 km from the Ahmedabad International Airport and 8 km from Gandhinagar. The site abuts a four lane National Highway (NH8) which connects Ahmedabad and Gandhinagar on its eastern side. The Sabarmati river demarcates the western boundary of the Project site.

Transportation

GIFT aims at providing transportation network which ensures accessibility, easy & fast mobility and zero road accidental deaths. This would be achieved by:

1.Using a multimodal mix of Transport systems (MRTS/LRTS/BRT, etc) for both inter region (Ahmedabad, Airport, Gandhinagar and the City) and intra-city.

2.Using walk-to-work concept as part of urban planning with a nodal split of 10:90 between private and public transport.

3.Use of electric Personnel Rapid Transport systems within the City.

In future, City will be linked with Ahmedabad BRTS, operated by Ahmedabad JanMarg Ltd.

Landmarks

1. GIFT Diamond Tower

2. Gateway Towers

Project Phases

First Phase

As of now, proposed GIFT city’s land leveling work is going on. Soon GIFT city will start constructing a temporary housing facility for some 40000+ workers.[6]

Second Phase

The second phase's planned period for construction and commencement - 2010-2013.

Third Phase

The third phase's planned period for construction and commencement - 2013-2017.

Consultants Engaged in GIFT

1. Design and Architecture - East China Architectural Design & Research Institute (ECADI) and Fairwood Consultants India.

2. ICT Advisory Services - British Telecom

3. Market Demand Assessment - McKinsey & Company

4. Talent Demand Assessment - Hewitt Associates

5. Environmental Assessment - IL&FS Ecosmart Ltd

6. Process Management - IL&FS Infrastructure Development Corporation Ltd

7. ICT Management - Cisco Systems International [7]

8. Power Management - ABB [8]

References

  1. ^ GIFT Genesis page
  2. ^ GIFT Video
  3. ^ GIFT Gujarat official website
  4. ^ GIFT Gujarat presentation including comparing with NY, London, Paris, Tokyo
  5. ^ ABB Group article on GIFT's electricity supply
  6. ^ India’s tallest proposed building Diamond Tower showcased(Video)
  7. ^ http://newsroom.cisco.com/dlls/2009/prod_060409c.html
  8. ^ http://www.abb.com/cawp/seitp202/e564972c0a2c6cfec125749c002d678d.aspx?leftdb=abbzh250&v=553E&e=us
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