Gujarat: Singapore Stock Exchange To Open Office At GIFT City, Gandhinagar

by Swarajya Staff - Apr 6, 2021 05:40 PM +05:30 IST
Gujarat: Singapore Stock Exchange To Open Office At GIFT City, GandhinagarGIFT 1 and GIFT 2, the completed towers of the city

Singapore Stock Exchange (SGX) will be setting up its offshore office at Gujarat International Finance Tec-City (GIFT-City) in Gandhinagar, reports Information Department of Gujarat on Monday (5 April).

Singapore's High Commissioner Simon Wong along with a high-level delegation from his country met Gujarat Chief Minister Vijay Rupani on Monday at Gandhinagar.

The Singapore delegation and Simon Wong extended an invitation to the Chief Minister to the inaugural function of offshore office of SGX at the GIFT City which will be operational by the end of April, 2021.

Wong was of the opinion that SGX office here will encourage many more subsidiary companies from Singapore establish their offices at GIFT City. He said that FDI inflow to Gujarat from Singapore was USD 1 billion in the last financial year, prominent among them being Sembcorp Industries, a global leader in renewable energy having commissioned renewable (wind) energy project in Kutch.

In a conversation with Rupani, Wong said that Singaporean companies would like to invest in Food Processing, Housing, Fisheries, and Financial Services sectors in Gujarat.

Simon also expressed his enthusiasm for the Singapore-Gujarat business delegation visit. He said that Singapore’s Minister of Industry and Commerce would be leading the delegation for this purpose.

CM Rupani said that Gujarat is committed to establish GIFT City as a world-class investment centre for financial and technological companies on the lines of Singapore and Dubai.

He told the delegation that Gujarat is a leading state to attract FDI in India, while Singapore is the second largest contributor of FDI inflow into Gujarat in the last financial year.

Along with CM Rupani, Additional Chief Secretary to the Chief Minister and Additional Chief Secretary of Industry M K Das, Industry Commissioner Rahul Gupta and Managing Director of Index-B Nilam Rani also attended the meeting.

Get Swarajya in your inbox everyday. Subscribe here.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Comments ↓
Get Swarajya in your inbox everyday. Subscribe here.
Advertisement

Latest Articles

    Artboard 4Created with Sketch.