SGX to begin operations at GIFT City from July, says Singapore High Commissioner

During the meeting, Patel discussed the possibility of fintech companies from Singapore setting up their base in GIFT City where SGX has already opened an office.

Bhupendra Patel. (File)

The Singapore Stock Exchange (SGX) will begin operations at GIFT City in collaboration with NSE from July, said Singapore High Commissioner Simon Wong during a meeting with Gujarat Chief Minister Bhupendra Patel in Gandhinagar Tuesday.

During the meeting, Patel discussed the possibility of fintech companies from Singapore setting up their base in GIFT City where SGX has already opened an office. The NSE IFSC-SGX Connect is an initiative between India and Singapore to collaborate in trading stock index-based products.

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Participation of Singaporean firms in real-estate ventures, logistics and warehousing was also discussed, stated an official statement from the government.

Patel also invited MSMEs from Singapore to set up businesses in the state. Wong was accompanied by a delegation consisting of Cheong Ming Foong, Consul General of Singapore in Mumbai. Earlier in the day, Wong and his team also met Gujarat Governor Acharya Devvrat at Raj Bhavan in Gandhinagar.

The delegation visited Hathijan in Ahmedabad Monday, where the first of the affordable housing projects in collaboration with Singapore construction firm, Surbana Jurong, is coming up under the Pradhan Mantri Awas Yojana (PMAY). At least 1000 units are being built in Hathijan. The collaboration is building in all 15000 PMAY homes in the cities of Ahmedabad, Rajkot, Vadodara and Surat, among the 10 cities in India. Wong and his team also visited the newly built Gandhinagar railway station on Monday.

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