Gujarat International Finance Tec-City
Encyclopedia
Gujarat International Finance Tech-City or GIFT is an under-construction city in the India
n state of Gujarat. It will be built on 500 acres (2 km²) of 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. 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 85000000 sq ft (7,896,758.4 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.
ASHISH SOJITRA :
gUJARAT iS gOD gIFT.
2007 and is being planned by East China Architectural Design & Research Institute (ECADI), which is responsible for planning much of modern day Shanghai
, and Fairwood Consultants India.
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.
Its Target Business Segments are:
International Airport and 8 km from Gandhinagar and nearby shahpur village
. 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.
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.
2. GIFT Gateway Towers - will be located in the main avenue of the city. It would have elaborated terrace gardens and rooftop restaurant. The towers draw inspiration from Buland Darwaza. It will have a total 7300000 square feet (678,192.2 m²) built up space.
3. GIFT Crystal Towers - With a total 8500000 square feet (789,675.8 m²) built up area, four Cyrstal Towers will overlook the Sabarmati River
.
4. GIFT Convention Centre - Inspired by the structure of Salt
crystals and Mahatma Gandhi
's Dandi March, the convention centre would have an opera and have a seating capacity of 10,000. The centre would have total built up are of 6500000 square feet (603,869.8 m²).
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
8. Power Management - ABB
A 250 feet (76.2 m) wide road is to be built connecting Gift to the Ahmedabad-Gandhinagar highway in the next 18 months. http://timesofindia.indiatimes.com/city/ahmedabad/Gujarats-GIFT-City-kicks-off/articleshow/5463156.cms
An international seminar regarding GIFT will be held in the Mahatma Mandir, Gandhinagar on January 13, 2011 from 10:00 hrs to 13:00 hrs. http://www.giftgujarat.in/Vibrant%20Seminar.pdf
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n state of Gujarat. It will be built on 500 acres (2 km²) of 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
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, Bangalore
Bangalore
Bengaluru , formerly called Bengaluru is the capital of the Indian state of Karnataka. Bangalore is nicknamed the Garden City and was once called a pensioner's paradise. Located on the Deccan Plateau in the south-eastern part of Karnataka, Bangalore is India's third most populous city and...
, Gurgaon
Gurgaon
Gurgaon is the second largest city in the Indian state of Haryana. Gurgaon is the industrial and financial center of Haryana. It is located 30 km south of national capital New Delhi, about 10 kilometers from Dwarka Sub City and 268 km south of Chandigarh, the state capital...
etc. where infrastructure is either very bad or very expensive. 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
Software Technology Parks of India
'Software Technology Parks of India' is a government agency in India, established in 1991 under the Ministry of Communications and Information Technology, that manages the Software Technology Park scheme. It is an export oriented scheme for the development and export of computer software,...
(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
Infrastructure Leasing & Financial Services
Infrastructure Leasing & Financial Services Limited is an Indian infrastructure development and finance company.- History :IL&FS was originally promoted by the Central Bank of India, Housing Development Finance Corporation and Unit Trust of India...
(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 85000000 sq ft (7,896,758.4 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.
Geography
The city will be located next to the Sabramati river. It covers 550 acres (222.57 ha). http://giftgujarat.in/all_blocks.aspxASHISH SOJITRA :
gUJARAT iS gOD gIFT.
Idea
The idea of GIFT was developed during the Vibrant Gujarat Global Investor SummitVibrant Gujarat Global Investor Summit
Vibrant Gujarat Global Investors Summit or VGGIS is a biennial summit organized by Gujarat state government in India to attract foreign investment for development of Gujarat...
2007 and is being planned by East China Architectural Design & Research Institute (ECADI), which is responsible for planning much of modern day Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, and Fairwood Consultants India.
Electricity
- The 1000MW electricity supply is planned to be 99.999% reliable (about 5.3 minutes of outage per year). GIFT's power grid will be designed by ABB Group of SwitzerlandSwitzerlandSwitzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
. All the electricity cables will be underground. Hong Kong Electric Company is 99.998% reliable since 1998.
Piped Gas
- Natural GasNatural gasNatural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
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
- GIFT will have: an Internet Gateway, world-class next generation IP-based networkBT 21CNThe 21st Century Network programme is the network transformation project of the UK telecommunications company BT Group plc for data and voice. It had been intended to move BT's telephone network from the present AXE/System X Public Switched Telephone Network to an Internet Protocol system...
, International Fibre Landing System.
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 AhmedabadAhmedabad
Ahmedabad also known as Karnavati is the largest city in Gujarat, India. It is the former capital of Gujarat and is also the judicial capital of Gujarat as the Gujarat High Court has its seat in Ahmedabad...
International Airport and 8 km from Gandhinagar and nearby shahpur village
. 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
MRTS
The abbreviation MRTS is most commonly used to refer to Mass Rapid Transit System.The abbreviation MRTS is used by the following specific rapid transit systems, either as an official name or otherwise:*Mass Rapid Transit System...
/LRTS/BRT
BRT
BRT may refer to:* "Be right there" in Internet slang.* Baltic Rubber Trade, Ltd., owner of the BRT trademark.* Bayrak Radyo Televizyon Kurumu is the national public broadcaster of Northern Cyprus....
, 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
Ahmedabad BRTS
Ahmedabad BRTS is a highly ambitious rapid transport system developed by Gujarat Infrastructure Development Board for the city of Ahmedabad, recognizing that no single mode would cater to the mobility needs of the city and that ‘Bus’ forms the most critical segment of the public transport system...
, operated by Ahmedabad JanMarg Ltd.
Landmarks
1. GIFT Diamond TowerGIFT Diamond Tower
GIFT Diamond Tower is a skyscraper proposed for Gujarat International Finance Tec-City in Gandhinagar in the Indian state of Gujarat. If constructed, the complex is expected to be completed by 2017 and will consist of the Diamond Tower and the core CBD of GIFT, comprising a total of...
2. GIFT Gateway Towers - will be located in the main avenue of the city. It would have elaborated terrace gardens and rooftop restaurant. The towers draw inspiration from Buland Darwaza. It will have a total 7300000 square feet (678,192.2 m²) built up space.
3. GIFT Crystal Towers - With a total 8500000 square feet (789,675.8 m²) built up area, four Cyrstal Towers will overlook the Sabarmati River
Sabarmati River
The Sabarmati River is a river in western India and one of the biggest rivers of north Gujarat. River Sabarmati is one of the major West flowing river of Gujarat which originates from Dhebar lake in Aravalli Range of the Udaipur District of Rajasthan and meets the Gulf of Cambay of Arabian Sea...
.
4. GIFT Convention Centre - Inspired by the structure of Salt
Salt
In chemistry, salts are ionic compounds that result from the neutralization reaction of an acid and a base. They are composed of cations and anions so that the product is electrically neutral...
crystals and Mahatma Gandhi
Mahatma Gandhi
Mohandas Karamchand Gandhi , pronounced . 2 October 1869 – 30 January 1948) was the pre-eminent political and ideological leader of India during the Indian independence movement...
's Dandi March, the convention centre would have an opera and have a seating capacity of 10,000. The centre would have total built up are of 6500000 square feet (603,869.8 m²).
First Phase
As of now, proposed GIFT city’s land leveling work is finished. GIFT city has built a temporary housing facility for some 40000+ workers.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
McKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
4. Talent Demand Assessment - Hewitt Associates
Hewitt Associates
Hewitt Associates , based in Lincolnshire, Illinois, United States was a global human resources outsourcing and consulting firm delivering a complete range of integrated services to help companies manage their total HR and employee costs, enhance HR services, and improve their workforces.Hewitt...
5. Environmental Assessment - IL&FS Ecosmart Ltd
6. Process Management - IL&FS Infrastructure Development Corporation Ltd
7. ICT Management - Cisco Systems International
8. Power Management - ABB
Recent news
A site office is under construction to build the Gift City Towers. http://timesofindia.indiatimes.com/city/ahmedabad/Gujarats-GIFT-City-kicks-off/articleshow/5463156.cmsA 250 feet (76.2 m) wide road is to be built connecting Gift to the Ahmedabad-Gandhinagar highway in the next 18 months. http://timesofindia.indiatimes.com/city/ahmedabad/Gujarats-GIFT-City-kicks-off/articleshow/5463156.cms
An international seminar regarding GIFT will be held in the Mahatma Mandir, Gandhinagar on January 13, 2011 from 10:00 hrs to 13:00 hrs. http://www.giftgujarat.in/Vibrant%20Seminar.pdf