GIFT City, TiE join hands to foster entrepreneurship, economic growth

New Delhi, June 25: Gujarat International Finance Tec-City (GIFT City) India's only International Financial Services Centre (IFSC) on Tuesday signed a memorandum of understanding (MoU) with non-profit organisation TiE (earlier known as The Indus Entrepreneurs) to drive economic growth, create employment opportunities through entrepreneurship, and facilitate a robust business ecosystem in the country.

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. "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," Tapan Ray, MD & Group CEO, GIFT City, said in a statement.

As part of the MoU, a joint working committee will also be formed with representatives from GIFTCL and TiE to oversee collaboration activities. This committee will meet periodically to discuss progress, address challenges, and explore new opportunities.

"We are excited to sign this MoU with GIFT City that will serve as a catalyst for capacity building to create jobs, drive economic growth, and shape innovation to transform and uplift societies and economies," said Amit Gupta, Chairman, Board of Trustees, TiE Global and Group CEO, Ecosystem Group.

In addition, TiE, along with its chapters, will facilitate connections between GIFT City and its global network of entrepreneurs and industry leaders, provide insights and recommendations on enhancing the startup ecosystem, and jointly organise knowledge sharing sessions, networking events, and boot camps.