Gujarat to have a World Trade Centre

GIFT-City project attracts investments worth Rs 1000 crore.

Gandhinagar | Published:February 19, 2014 9:45 pm
This World Trade Centre for financial and allied services will connect with businesses at 343 locations worldwide. This World Trade Centre for financial and allied services will connect with businesses at 343 locations worldwide.

Gujarat is all set to have a World Trade Centre of its own! On Wednesday, chief executive officer of New York-based World Trade Centers Association (WTCA), Eric Dahl received an “allotment letter” to build one at the GIFT City project in Gandhinagar, where the association will invest over Rs 600 crore along with an Indian partner.

“We have a local partner in India and will be building a facility of a million square feet (of built-up-area) that will attract small and medium entrpriseses which will be connected to our global network. It will create an eco-system for global trade. Tenants in our building will be part of the international community which will be good for their exports and imports,” said Dahl while giving details about the project that is expected to take shape within next three years.

This World Trade Centre for financial and allied services will connect with businesses at 343 locations worldwide. The cities including Kolkata, Bangalore, Chennai, Kochi and Mumbai already have their own WTCs.

“It is a unique project. It will have a special profile and will be focussed on financial section, diamonds and technology,” added Dahl, who was among the five persons who received “allotment letters” from Gujarat chief minister Narendra Modi for investing a total of Rs 1000 crore in the ambitious Rs 78000-crore GIFT city project.

The others who received allotment letters include Global Insurance Services (India) Private Limited which will be developing a Skill Development & Training Centre of insurance sector at a cost of Rs 100 crore, iPlex (which will occupy 4000 square feet of space in SEZ area of the project) and Tata Communications Limited which is developing a Rs 150 crore data centre.

Meanwhile, the Hari Sankaran, MD of IL&FS which is developing the GIFT City in partnership with the Gujarat government said, that a number of firms from the United States are “awaiting the out come of the Lok Sabha elections” to invest in the GIFT project.

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