Latest News | GIFT City, TiE Sign MoU to Foster Entrepreneurship and Economic Growth

Ahmedabad, Jun 25 (PTI) Gujarat International Finance Tec-City (GIFT City) in Gandhinagar has collaborated with TiE, Inc. (earlier known as The Indus Entrepreneurs) to drive economic growth, create employment opportunities through entrepreneurship, and facilitate a robust business ecosystem in the country, an official release said.

A memorandum of understanding (MoU) was signed on Tuesday in this regard between Gujarat International Finance Tec-City Company Ltd (GIFTCL) and TiE -- a global non-profit organisation and network dedicated to fostering entrepreneurship.

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Under the MoU, a collaborative framework will be established between GIFTCL and TiE to promote innovation, attract investments, and create an enabling environment for businesses in India through GIFT City, according to the release.

The partnership seeks to drive economic growth and provide significant employment opportunities, said a release by GIFT City, India's only International Financial Services Centre (IFSC).

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Areas of cooperation under the MoU include facilitating GIFT City as the preferred destination for TiE members and portfolio companies, providing regulatory guidance and advisory support, assisting in obtaining necessary approvals, licenses, and space allocation, and offering access to GIFT City's world-class infrastructure facilities, it said.

Both parties will also engage in joint promotion and branding activities, collaborate on studies and research publications, and conduct outreach programmes targeting entrepreneurs and investors interested in the Indian market.

This committee will meet periodically to discuss progress, address challenges, and explore new opportunities. An annual entrepreneurship summit will also be hosted at GIFT City involving the larger TiE network.

GIFT City MD and Group CEO Tapan Ray said, "We are delighted to partner with TiE, a global leader in entrepreneurship. The collaboration will enable us to attract top-tier entrepreneurs and businesses to GIFT City, further solidifying our position as a leading financial and technology services hub."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)