HCL Technologies has announced its plan to establish a TechFin centre in GIFT City, Gujarat. The company has submitted an application to the International Financial Services Centres Authority (IFSCA) proposing to employ 1,500 people at this new facility. This centre will operate under the regulatory framework for fintech entities in IFSC 2022.
This will be HCL’s first such unit in Gujarat and will be fully funded by its head office. A spokesperson from the company said, “We plan to set up a unit in GIFT City as it offers world class infrastructure and access to quality talent. We aim to serve our global financial services clients from the location.”
HCL will join a growing group of tech and fintech companies like Infosys, Wipro, and Cognizant, which have already set up or proposed similar centres in the region. GIFT City is quickly emerging as a major hub for financial technology and has become a top employment generator in the sector.
Earlier this year, Infosys began operations at its own TechFin centre in GIFT City with the capacity to house 1,000 employees. Cognizant also opened its facility in May with 600 employees, aiming to expand to 2,000 over the next three years. Meanwhile, other companies such as Hexaware and Wipro have also received approvals or filed applications for similar projects.
K Rajaraman, Chairperson of IFSCA, noted that the blend of technology and financial services is crucial in today’s markets. He added that the growing number of Global Capability Centres in GIFT City reflects its attractiveness for both domestic IT leaders and international financial institutions. According to him, the newly introduced TechFin and Ancillary Services regulations will help further expand the fintech services ecosystem from India.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
