"Hexaware Technologies Plans to Establish TechFin Centre at GIFT City".

Global IT services company Hexaware Technologies Ltd. has become the latest firm to apply for a TechFin centre at GIFT City in Gujarat, following in the footsteps of industry giants Infosys and Cognizant. The proposed centre is expected to employ over 500 people and occupy 2,500 square meters of office space at the Gujarat International Finance Tec-City (GIFT City), according to official sources from the International Financial Services Centres Authority (IFSCA).

Hexaware, with 54 offices worldwide and a workforce of over 31,000 employees, has filed the application for its “branch” at the GIFT IFSC. The company, which generates 94% of its revenue from North America and Europe, plans to offer IT consulting, support services, and design and development solutions from the GIFT City hub.

The move comes as several global companies are expanding their presence in GIFT City. In December 2024, Cognizant Technology Solutions India Pvt. Ltd. received approval from the IFSCA to establish a TechFin centre that will provide IT services and employ around 2,000 people. Similarly, Infosys Ltd. received approval in September 2024 for a TechFin centre that will create 500 jobs, offering services ranging from software licensing to IT consulting and support.

The establishment of TechFin centres is part of GIFT City’s broader strategy to position itself as a leading global fintech hub, a vision supported by regulatory frameworks introduced by the IFSCA in April 2022.

HBL