“I wish to put forward a request for your support and assistance in establishing a central business district hosting a global financial and IT hub, similar to the Gujarat International Finance Tec-City (GIFT City) project of Gujarat, in Karnataka,” Kharge said in a formal letter addressing the FM on Tuesday.
He further said that establishing a central business district hosting a global financial and IT hub such as GIFT City in Karnataka will not only foster economic growth but also create numerous employment opportunities. Besides, it will attract foreign investments, and enhance the state’s stature as a global business hub, the state minister added in the letter sent to Sitharaman.
GIFT City, established in Gujarat in 2015, is the only global financial & technology hub in India spread across 886 acres of land, to encourage businesses to set up their international units. The Government of India has approved GIFT City, as a multi services Special Economic Zone (GIFT SEZ) and has also notified this zone as India’s International Financial Services Centre (IFSC).
Meeting the FM in New Delhi on Friday, Kharge put forth the demand request to recognise the transformative impact of such initiatives and stated that Karnataka’s vibrant economy, robust IT sector, and strategic geographical location, makes it well-positioned to recreate a similar business hub.
Kharge highlighted that Karnataka’s industrial landscape encompasses various sectors including information technology (IT), biotechnology, aerospace, and startups, among others.
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Making a strong proposal, he also pointed to the state’s focus on research and development (R&D), its premium institutions such as Indian Institute of Sciences and International Institute of Information Technology in the capital city of Bengaluru, which is also referred as the “Silicon Valley of India”.On Tuesday June 25, answering questions from media persons on investments in Karnataka, Kharge had alleged that Prime Minister Narendra Modi was pressuring companies to invest in Gujarat by blocking investments intended for the southern Indian state.
GIFT City also happens to be the pet project of Modi, who conceptualised the hub while he was the chief minister of Gujarat around 2008.
