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International Financial Services Centres Authority

(A statutory authority established by Government of India)

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IFSCA-FICCI Sign MoU For Development Of GIFT-IFSC In Gujarat As World-Class FinTech Hub

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IFSCA-FICCI Sign MoU For Development Of GIFT-IFSC In Gujarat As World-Class FinTech Hub

IFSCA-FICCI signed a Memorandum of Understanding (MoU) to establish a framework for collaboration and co-operation for the development of Gujarat International Finance Tec-City (GIFT) IFSC as a world-class FinTech hub.

This MoU will pave the way for future collaborations and cooperation between IFSCA and FICCI for the development of a world-class FinTech Hub in GIFT IFSC.

FICCI will also assist IFSCA in the development of FinTech Accelerator programmes in GIFT IFSC amongst other cooperation areas.

The MoU was signed by Injeti Srinivas, Chairman, IFSCA, and Dilip Chenoy, Secretary-General, FICCI.

India's FinTech ecosystem has seen tremendous growth over the last 5 years and India continues to be ranked among the top 5 FinTech investment destinations. Over the period Indian FinTech industry has become a hotbed of customer-centric innovation.

Sleek and efficient offerings across payments, lending, insurance, wealth management, and broking have disrupted industries and transformed the face of financial services. The Indian FinTech industry is fast maturing supported by a well-functioning ecosystem and is bound to grow multi-fold in the coming years.

Many FinTechs from India are exploring and expanding their geographical footprint and IFSCA can help these fintech companies expand overseas.