Gift City gets 11 investment approvals in Gujarat

As many as 11 entities secured approvals to set up units in the special economic zone (SEZ) at Gujarat International Finance-Tec City (GIFT City) in Gandhinagar. GIFT SEZ development commissioner, A K Choudhary, said that approvals granted through teleconferencing in view of the nationwide lockdown. A majority of companies that got approvals include Azura Technologies, Ajmera Infotech, Applie Infosol, Shrine Technologies, Silent Infotech and Omega Cyber World. The administration is always ready to provide solutions to businesses so that in difficult times they get support for new units in GIFT City and ensure business continuity for operating units, said Tapan Ray, MD and Group CEO, GIFT City. With tax breaks on setting up SEZ units set to end on March 31, there is a huge rush of IT and IT-enabled services companies to set up base in GIFT City's multi-services SEZ, which also houses an International Financial Services Centre (IFSC). In the recent past, 17 companies got approval to establish units in the GIFT SEZ, which was already home to 180 units. GIFT SEZ is one of the fastest growing services SEZs in India, having exports of services worth around ₹3,740 crore as on February this fiscal.