HCLTech Opens 500-Seat GIFT City Fintech Hub
HCLTech, a prominent IT services company, inaugurated a 500-seat fintech center in Gujarat International Finance Tec-City (GIFT City), aiming to provide advanced technology services such as artificial intelligence (AI), data engineering, and other evolving digital technologies to clients in banking and financial services.
The firm has already employed around 100 workers, a significant number of whom are locally sourced, and has begun delivering technology from the site.
The facility, referred to by HCLTech as its Global Technology Office, occupies two levels in a business complex within GIFT IFSC and was opened by Gujarat's Deputy Chief Minister Harsh Sanghavi.
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“We are pleased to announce that several of our key financial services clients will be assisted from this location.” “HCLTech will undertake IT development for them,” states Rahul Singh, Chief Operating Officer – Corporate Functions.
Justifying the investment, Singh explained that HCLTech recognized a chance to grow in GIFT City, as the International Financial Services Centres Authority (IFSCA) promoted technology and fintech firms to set up operations in the financial center.
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“So when IFSCA was encouraging techfin companies to come here, we saw an opportunity, as some of our clients in the banking sector are already here,” he says.
The company expects the centre to become a hub for advanced technology work. “We have built a 500-seater in the city and we hope to do a good volume of business from here. Already 100 people have been enrolled here and we have already started technology delivery from here. Within technology, our effort is to make this centre where higher-end work is done, including work around AI, data and new-age technologies,” Singh says.
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He added that customer interest would determine the pace of expansion. “Our customers are equally important in city selection. While we have created this environment in GIFT City, we have to make it attractive so that customers are willing to work with our teams here. For them to work with our teams, the teams have to be talented”.
“Therefore, our effort is to develop the right talent in the new technologies that customers are asking for right now,” Singh says.
To build a talent pipeline for the centre, HCLTech also announced partnerships with IIT Gandhinagar and Gujarat Technological University to develop skills in AI, data and other emerging technologies for the technology and financial services sectors.
Multiple prominent technology firms have either established or declared TechFin centres in GIFT City. These encompass Infosys, Cognizant, Wipro, and Hexaware, which are anticipated to generate over 5,600 jobs in the forthcoming years. Their centers concentrate on creating technological solutions for banking, capital markets, insurance, wealth management, and other regulated financial services for clients in India and around the world.