At a time when the entire country is locked down due to coronavirus (Covid-19) outbreak, a new approval process was created for the first time in the history of unit approval in special economic zone (SEZ). Around 11 entities bagged approval for setting up units in the Gujarat International Finance Tec-City (GIFT City)'s SEZ virtually. Amid the current lockdown, the SEZ development commissioner, GIFT SEZ and GIFT SEZ authorities met up with all the members of unit approval committee via teleconference, with each entity getting connected turn by turn through the dial-in mechanism. All the application documents and the details were submitted online by the units, with the entire agenda prepared and circulated online to all the committee members.

 
What
  1. The most important job for the Ministry of Commerce at this important junction of Covid 19 situation is to provide all possible support to enable businesses to obtain all the approvals sitting at their own premises. 
  2. We are glad that today through teleconferencing we could approve 11 new units in GIFT SEZ and have innovated new processes for the approval of units in the country, said A K Choudhary, Development Commissioner, GIFT SEZ.
  3. The approved 11 new units carry a potential of generating around 500 jobs. With this, the total number of units in the GIFT SEZ now stands at 210.
  4. According to Tapan Ray, MD & Group CEO, GIFT City, amidst the current lockdown, GIFT City occupants are running several business continuity operations. 
  5. GIFT SEZ authorities are working to support entrepreneurs in these difficult times with restricted movement for businesses. We are very confident to achieve substantial growth in our business with the support of excellent infrastructure of GIFT City.
Flashback
  1. GIFT City is an integrated development on 886 acres of land with 62 mn sq. ft. of Built Up area which includes Office spaces, Residential Apartments, Schools, Hospital, Hotels, Clubs, Retail and various Recreational facilities, which makes this City a truly “Walk to Work” City
  2. GIFT City consists of a conducive Multi-Service SEZ (Special Economic Zone) and an exclusive Domestic Area.
  3. This City is a Vertical City which will optimize land area consumption for development
  4. The City is located on the bank of river Sabarmati connecting the Business capital (Ahmedabad) and Political capital (Gandhinagar) of Gujarat State- The Growth Engine of India.
  5. GIFT City is a new Financial & Technology Gateway of India for the World.