Hexaware Technologies to Establish Tech-Fin Centre at Gujarat’s GIFT City with 500 Employees

Hexaware Technologies to Establish Tech-Fin Centre at Gujarat’s GIFT City with 500 Employees.

Expert Analysis:

• IFSCA Approval: The company which has 54 offices worldwide, applied for the International Financial Services Centres Authority (IFSCA) approval to set up a branch.

• Office Space Allocation: Hexaware plans to occupy 2500 square meters of office space in GIFT City.

• Global Workforce and Space: Hexaware, with 31,000+ employees, will offer IT consulting, design, and development services from GIFT City, seeking 4925 square meters of office space, with 94% of revenue from America and Europe.

• TechFin Centre Developments: Several companies, including Cognizant Technology Solutions, are setting up TechFin centres in GIFT City, with Cognizant's centre expected to employ 2000 people.

• TechFin Framework and Approvals: A framework for FinTech and TechFin entities at GIFT City was established through an April 27, 2022 circular, aiming to create a globally leading FinTech hub, with IFSCA approving similar centres for Infosys in September 2024.