Google to open global fintech operation centre in GIFT City of Gujarat: CEO Sundar Pichai after Meeting PM Modi

Google to open a global fintech operation center in GIFT City, Gujarat


Google, the internet giant, has announced that it will set up its global fintech operation center in Gujarat's GIFT City, following a meeting between its CEO Sundar Pichai and Indian Prime Minister Narendra Modi in Washington. This is a part of Google's USD 10 billion investment in India's digitisation fund, which aims to support the country's digital transformation and innovation.

What is GIFT City?

GIFT City, or Gujarat International Finance Tec-City, is India's first operational smart city and international financial services center. It is located near Ahmedabad, the largest city in Gujarat. GIFT City offers world-class infrastructure, connectivity, and regulatory framework for businesses and financial institutions. It also hosts India's first International Exchange (INX) and International Financial Services Centre (IFSC).

Why did Google choose GIFT City?

According to Pichai, Google chose GIFT City as the location for its global fintech operation center because of India's fintech leadership, thanks to its unique innovations such as UPI (Unified Payments Interface) and Aadhaar (biometric identification system). He said that Google will build on this foundation and take it globally.

Pichai also praised Modi's vision for Digital India, which he said was ahead of its time and now serves as a blueprint for other countries. He said that Google is investing in India's digitisation fund to support companies working on artificial intelligence, language technology, cybersecurity, and mobile device manufacturing.

What are the benefits of Google's fintech operation center?

Google's fintech operation center will create new jobs and opportunities for the local talent pool in Gujarat and India. It will also boost the growth and innovation of the fintech sector in the country and beyond. Google's fintech operation center will leverage its expertise and technology to provide solutions and services for various financial needs and challenges.

Google's fintech operation center will also collaborate with academic institutions in India to promote research and development, skill development, and entrepreneurship in the fintech domain.

Conclusion

Google's decision to set up its global fintech operation center in GIFT City, Gujarat is a testament to India's potential and leadership in the digital economy. It is also a reflection of the strong partnership and cooperation between Google and India, which share a common vision of empowering people with technology. Google's fintech operation center will bring new benefits and opportunities for India's fintech ecosystem and contribute to the country's progress and prosperity.

Source: 

(2) Google CEO Sundar Pichai unveils plans for fintech hub in GIFT City, Gujarat. https://www.cnbctv18.com/business/companies/google-sundar-pichai-unveils-plans-fintech-hub-gift-city-gujarat-17029411.htm.
Tags
Muskan

Posted by Muskan

Post a Comment

0 Comments