Ahmedabad, December 30. Gujarat Chief Minister Bhupendra Patel has granted in-principle approval for the establishment of the Indian AI Research Organization (IAIRO) to foster research and development in the field of artificial intelligence. This significant decision was taken on Tuesday to set up the center under a public-private partnership model involving a tripartite collaboration between the state government, the central government, and the Indian Pharmaceutical Alliance.

The initiative has been undertaken under the guidance of Prime Minister Narendra Modi and the Chief Minister to accelerate the national AI ecosystem and boost research efforts. As per agency report, the IAIRO will commence operations as a Special Purpose Vehicle from January 1 at GIFT City near Gandhinagar. It will be constituted as a non-profit institution under Section 8 of the Companies Act, 2013.

A budget of approximately Rs 300 crore has been allocated for the first five years of the project. The funding structure involves an equal contribution of 33.33 percent each from the state government, the central government, and the private partner. The Indian Pharmaceutical Alliance has joined as the principal private partner and will contribute Rs 25 crore for the year 2025-26. The alliance comprises about 23 major pharmaceutical companies, including Cipla, Torrent Pharma, and Sun Pharma.

This initiative by Gujarat aligns with the objectives of the India AI Mission of the Union Ministry of Information Technology and the AI Action Plan of the state government's Department of Science and Technology. The core activities of IAIRO will encompass advanced research and development, the creation of AI-based products, and the promotion of collaboration among educational institutions, industries, and startups. Additionally, the institute will focus on intellectual property creation and capacity building.

The Ahmedabad-Gandhinagar Metro project is nearing completion, with trial runs expected to begin soon on a critical stretch. The Gujarat Metro Rail Corporation (GMRC) is working diligently to launch a pre-trial run from Motera Stadium to Gandhinagar Sector 1 in March-April.

Pre-Trial Run Conducted on Model Road

A pre-trial run was recently conducted on the iconic Model Road route, constructed at a cost of Rs 32 crore. While the trial run offered a glimpse of the future, it served as a precursor to the official trial run scheduled for the coming months.

20 Km of Phase-II Nearing Completion

The second phase of the Metro, spanning approximately 20 kilometers, is in the final stages. The project includes the construction of 22 stations, including Koteshwar Road, Vishwakarma College, Narmada Canal, GNLU, PDPU, and Mahatma Mandir.

Speedy Work on Shahpur Bridge

The completion of the Shahpur Bridge, a crucial element connecting the Metro across the Sabarmati River, is progressing swiftly. The construction of each span on the bridge is reported to be completed in a record six days.

Public Awaits Faster Connectivity

The trial run announcement has ignited excitement among residents eagerly awaiting the Metro's launch. This project is anticipated to significantly improve connectivity between Ahmedabad and Gandhinagar, facilitating faster and more efficient travel between the two cities.

GMRC's Commitment to Progress

The GMRC's dedication to rapid execution is evident in the project's advancement. The pre-trial run on Model Road and the planned trial run between Motera and Gandhinagar showcase the agency's commitment to bringing this significant infrastructure project to fruition.

The Ahmedabad-Gandhinagar Metro project holds immense potential for transforming the urban landscape of both cities. The upcoming trial run marks a significant milestone and offers a promising glimpse into the future of improved connectivity for the region.

The Gujarat Metro Rail Corporation (GMRC) has announced exciting progress on the 20km stretch from Motera to Gandhinagar, with initial testing starting next month. The trial runs will commence between Motera Sector-1 and Gandhinagar, passing through the prominent GIFT City business district.

This development brings the dream of seamless metro connectivity between the two urban centers closer to reality. According to GMRC officials, the entire route, extending up to Mahatma Mandir, is expected to be operational by the end of 2024.

However, with Lok Sabha elections looming, time is of the essence. The GMRC emphasizes the importance of starting trials by mid-March, before the model code of conduct kicks in. "Once the election dates are announced, testing gets restricted," explained an official, highlighting the urgency.

The good news doesn't stop there. After the elections, passenger services will kick off, initially reaching Gandhinagar Sector-1. By year-end, the entire stretch will be open for public use.

Adding to the excitement is the nearing completion of a visually stunning cable-stayed bridge over the Narmada Main Canal, connecting Narendra Modi Stadium to Gandhinagar. This architectural marvel boasts a central span of 145 meters, promising a smooth and scenic journey.

Furthermore, work on other parts of the project is progressing swiftly. The stretch from Thaltej to Thaltej village is also targeted for completion by year-end, along with the opening of the Sabarmati Metro station after the elections.

With dedicated efforts and clear deadlines, the Ahmedabad-Gandhinagar metro is gearing up to revolutionize travel between the two cities. Stay tuned for more updates as this significant infrastructure project inches closer to completion!

The Yotta G1 Data Center, which was recently announced at Vibrant Gujarat, is located in Gandhinagar’s GIFT City and is the only data center facility in this prime location to provide collocation as well as the full range of cloud, managed IT, and cyber security services for storing and processing data and applications for a range of use cases, including enterprise applications and AI models.

Mr. Darshan Hiranandani, co-founder and chairman of Yotta Data Services

Gandhinagar (Gujarat) [India], January 29: Modern data center facility “Yotta G1” in GIFT city, Gandhinagar, is ready for service (RFS), according to Yotta Data Services, an end-to-end supplier of digital transformation services.

 Yotta’s first presence in Gujarat is marked by the opening of this data center, which also advances the company’s goal of offering digital services in India’s fast-growing regions. 

Yotta’s fifth data center location in the nation is called G1. It joins four huge operational data centers, two of which, at Navi Mumbai and Greater Noida are part of hyperscale campuses. In Gandhinagar’s Gujarat International Finance Tec-City (GIFT city), Yotta G1 is situated in a special area inside the International Financial Services Center (IFSC) zone. 

 Over the course of five years, G1 will invest more than INR 500 cr in essential non-IT and IT, cloud, and AI compute infrastructure. The data center can accommodate up to 350 high-density racks and has a 2 MW power capacity, with additional scalability available based on need. The facility is built to seamlessly deliver fault-tolerant facility infrastructure, high-performance Cloud compute and storage infrastructure, advanced physical and cyber security, unmatched connectivity, and unwavering sustainability to meet the most demanding digital needs of its customers, who may be located within GIFT City or anywhere in the world.  

 The G1 data center serves as a potential data embassy for big international businesses working in the GIFT City IFSC zone. This enables them to retain sovereignty over their data, even while it is kept in India, because it is subject to the rules and regulations of their home country. Global corporations can guarantee uninterrupted operations in the event of significant disturbances within their borders by storing their data in a physically distinct location. The data center’s location guarantees adherence to the International Financial Services Commission (IFSC) standards, offering firms in the zone unique benefits such as free foreign exchange convertibility, a liberalized regulatory environment, and policies that are conducive to business. It also assists businesses in meeting the standards of the International Financial Services Commission (IFSC), which includes hosting data inside the IFSC zone. 

 Speaking on the news, Darshan Hiranandani, co-founder and chairman of Yotta Data Services, stated: “The state of Gujarat, together with GIFT City, has been leading the way in offering a practical and long-lasting platform for international companies to establish operations in India. An additional indication of their strategy for financial services companies is the creation of the IFSC zone. We are happy to support this objective of the Gujarat government with a state-of-the-art data center within the IFSC zone, providing the latest and finest in cutting-edge technologies to enable firms to set up and develop their enterprises while also conforming to all regulatory standards.” 

Furthermore, Yotta’s G1 represents a critical turning point in the company’s ability to provide high-end data center, Cloud, AI computing, storage, networking, and cybersecurity services to businesses in the Gujarat region and throughout the world, according to Sunil Gupta, Co-Founder, MD, and CEO of Yotta Data Services. In addition to providing services to local businesses in and around GIFT City, our data center will act as a potential data embassy for international businesses, allowing them to comply with national regulations while providing a stable and safe location for offshore data storage.” 

GIFT City’s G1 data center is unique in that it provides more services than just colocation. In keeping with Yotta’s reputation as the go-to partner for businesses looking to undergo a complete digital transformation, G1 offers a number of essential features, including cutting-edge data security, bespoke business solutions, an in-house hyperscale cloud offering, AI-GPU compute, cutting-edge infrastructure, cybersecurity know-how, seamless integration with managed IT services, round-the-clock customer support, cost optimization, and an overall competitive advantage.  

This announcement comes soon after Yotta’s cloud services, Yntraa Cloud and Shakti Cloud, were just launched. Shakti Cloud, the largest and fastest AI-HPC supercomputer in India, is powered by NVIDIA’s top-tier GPUs. It offers state-of-the-art GPU computing infrastructure, platforms, and services, such as Infrastructure as a Service, Platform as a Service, and Software as a Service. On the other hand, Yntraa Cloud provides an extensive array of cloud goods and services and is a truly indigenous hyperscale cloud platform on par with global cloud platforms.  

Deeper Dive In Yotta:  

Yotta Data Services is a new-age Digital Transformation service provider offering Cloud, GPUs, data center hosting, Connectivity, Cybersecurity services, cyber-workspaces, managed apps, and a comprehensive range of Managed IT services. At its hyperscale data center parks in Panvel (Navi Mumbai) and Greater Noida (Delhi), Yotta runs its cloud regions. Meity empanelled Yotta’s Cloud (VCC & GCC). Yotta plans to introduce “Yntraa,” India’s fastest AI-HPC supercomputer, and “Shakti Cloud,” a feature-rich, open source hyperscale cloud, in the first quarter of 2024. 

Part of a massive 600 MW DC compound, Yotta’s first data center, the Yotta NM1 data center in Panvel, has been recognized as APAC’s best data center by Data Cloud Global Awards in 2021 and 2023. It is also the second largest Uptime Institute Certified Tier IV facility in the world. Yotta Greater Noida DC Park is the largest campus in North India, spanning 180 MW and inaugurated in October 2022. Yotta has received various awards and certifications, including PCI-DSS, ISO 27701 for Privacy Information Management (PIMS), RBI’s cyber security framework and localization framework, ISO 27017 for protection of personal information in public clouds, and SOC2-Type 2 and SOC3. For more information, visit www.yotta.com.

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Ahmedabad, Jan 11 (IANS) During the second day of the ‘Vibrant Gujarat Global Summit’, Finance Minister Nirmala Sitharaman delivered an overview of Gujarat International Finance Tec-City's (GIFT City) financial ecosystem.

According to Sitharaman, GIFT City has evolved into a dynamic hub, housing three exchanges, 26 banks, 26 aircraft lessors, 86 fund managers, and eight ship leasing companies.

It also boasts the presence of 50 professional firms and a total of 580 entities.

The Finance Minister underscored GIFT City's strategic role in attracting various sectors, including fintech, aircraft leasing, and ship leasing industries.

Highlighting the impressive financial growth within GIFT City, Sitharaman revealed that “the derivative contracts in the city had soared to a value of $2.02 billion as of October. This remarkable growth indicates GIFT City’s crucial role in the global financial landscape, particularly in the fintech sector, where it boasts an 80 per cent adoption rate – the highest globally.”

Sitharaman also emphasised the need for international fintech companies looking to operate in India to establish a presence in GIFT City.

This mandate reflects the city's pivotal position in India's financial strategy and its capability to bridge the gap between local and global financial markets.

Additionally, Sitharaman noted the city's significant investment in green bonds, totaling $10.18 billion, underscoring its commitment to sustainable financial practices.

The resilience and expansion of the Indian stock market were also focal points of Sitharaman’s address.

She attributed this success to the active participation of retail investors and the stability of the country’s policy environment.

"Our thriving stock market is a testament to the steady policies and the involvement of regular investors," Sitharaman remarked.

Gandhinagar : GIFT City, India's thriving international financial hub, is set to host two marquee events in January, promising a confluence of global leaders, insightful dialogues, and a roadmap for the future of finance.

Prime Minister Leads Fintech Talks:

Kicking off on January 10th is the "Global Fintech Leadership Forum," held in collaboration with GIFT City and the Gujarat Government. The highlight of this forum will be a high-level meeting between Prime Minister Narendra Modi and prominent leaders from renowned global fintech companies like Google, IBM, Accenture, and Capgemini.

This exclusive meet-and-greet presents a unique opportunity for global fintech giants to share their futuristic plans and collaborate with Prime Minister Modi on India's journey towards financial empowerment. Senior representatives from other esteemed corporations, including NYS Group, Amazon Pay, NASDAQ, Stonex, Wells Fargo, and Standard & Poor's, will also join the forum, creating a dynamic platform for knowledge exchange and strategic partnerships.

GIFT City: Showcasing Modern India's Inspiration:

The following day, January 11th, will see the Mahatma Mandir Convention Centre host a seminal seminar titled "Gift City - An Inspiration of Modern India." This esteemed event will be graced by a powerful line-up of speakers, including Union Finance Minister Nirmala Sitharaman, Gujarat Government Finance Minister Kanubhai Desai, GIFT City Chairman Hasmukh Adhia, and IFSCA Chairman K Rajaraman.

Beyond prominent addresses, the seminar features three enriching panel discussions designed to delve into critical aspects of financial evolution.

Crafting the Future of Finance:

The first panel, aptly titled "Designing a roadmap for the future of finance – Role of International Financial Centres," will engage in a crucial discussion on building a robust framework for a dynamic and inclusive financial landscape. This conversation will be particularly relevant as global financial systems adapt to new technologies and evolving market dynamics.

Tech and Fin - A Confluence of Innovation:

The next panel, "The Right Connect of Tech and Fin-Emerging Trends Globally," will shift the focus to GIFT City's role in fostering cutting-edge technological advancements within the financial, insurance, and capital markets sectors. This discussion promises to shed light on how technology can be harnessed to create a more efficient, transparent, and accessible financial ecosystem.

Building Sustainable, Future-Proof Cities:

Rounding out the forum is a panel titled "Urban Resilience: Building Sustainable and Future Proof Cities." This timely discussion will explore strategies for adopting sustainable practices in light of diminishing resources, ensuring that cities like GIFT City can thrive in the years to come. By emphasizing renewable energy and responsible resource management, India aims to become a global thought leader in environmental conservation, paving the way for a brighter future for generations to come.

Financial Prominence on the Global Stage:

These two high-profile events at GIFT City mark a significant chapter in India's journey towards solidifying its position as a global financial powerhouse. Through insightful discussions, strategic partnerships, and a focus on sustainable development, GIFT City is proving itself to be more than just a financial hub; it is an inspiration for modern India, showcasing the nation's commitment to innovation, inclusivity, and responsible growth.

As India strides towards financial prominence on the global stage, GIFT City serves as a beacon of progress, inviting the world to participate in its ambitious vision for the future of finance.

Gandhinagar : Gujarat's decades-long alcohol prohibition policy is facing a fiery challenge, with the recent exemption granted to the international business hub of Gift City in Gandhinagar. While the move promises to bolster business by catering to international and interstate clients, it has ignited fierce criticism from the opposition and ignited heated political discourse across the state.

Wine and Dine: Business Boost or Moral Compromise?

On December 23rd, the state Excise Department implemented the "Wine and Dine" facility within Gift City, allowing alcohol consumption within designated restaurants and hotels. This unprecedented move sent shockwaves through the political landscape, with the Congress and Aam Aadmi Party (AAP) swiftly voicing their disapproval.

Government Welcomes, Opposition Rejects:

State Agriculture Minister Raghavji Patel welcomed the decision, highlighting its potential to attract foreign investments and cater to the unique needs of international business ventures. He further hinted at the possibility of extending similar relaxations to other business hubs like Surat, Rajkot, and Morbi.

However, Congress state president Shakti Singh Gohil expressed deep distress, characterizing the move as a moral compromise and a betrayal of Gujarat's cultural and religious values. He lamented the potential damage to the state's image as the birthplace of Mahatma Gandhi and a land devoted to spiritual traditions.

AAP MLA Umesh Bhai Makwana echoed these sentiments, vowing to raise the issue in the upcoming budget session and condemning the government's attempt to dismantle the 60-year-old prohibition policy.

A Spark in a Larger Debate:

The Gift City's liquor exemption has become a focal point in the ongoing debate about balancing cultural values with economic growth in Gujarat. While supporters see it as a pragmatic step towards global competitiveness, critics warn of its potential to erode the state's social fabric and traditional heritage.

As the controversy unfolds, one thing is clear: the battle lines have been drawn, and the future of Gujarat's liquor ban hangs in the balance. The coming months will be crucial in determining whether the "Wine and Dine" experiment remains confined to Gift City or spills over to other parts of the state, reshaping the landscape of Gujarat's social and economic policy in the years to come.

GANDHINAGAR – GIFT City, India's International Financial Services Centre (IFSC), is poised to attract significant global investments as the Gujarat government ramps up its efforts to promote the city as a world-class finance and IT hub. Ahead of the 10th Vibrant Gujarat Global Summit (VGGS) scheduled for 2024, the government has organized six international and eight national-level roadshows to showcase GIFT-IFSC's potential to global investors.

The roadshows have resulted in interactions with over 1,000 companies from around the world, including major global players like Google, Bank of America, Morgan Stanley, Deakin University, IndiGo, Air India, SGX Nifty, and IIBX. These companies have expressed keen interest in setting up operations and expanding their businesses in GIFT-IFSC.

To further strengthen its position as a global investment destination, the Gujarat government has signed several agreements with leading Australian companies, including GPST Holdings Pty Ltd, Vermillion Ventures, and ANB Corp Pvt Ltd. These agreements aim to establish strategic partnerships in the startup and digital technology sector and facilitate the establishment of new finance sector firms in GIFT-IFSC.

The government's delegation has also met with representatives from leading global companies such as Abu Dhabi Securities Exchange ADX (UAE), Alternate Investment Funds (UAE), Dai-Chi Life Holdings (Japan), Blackstone Singapore Pte Ltd, Instarem (NIUM) (Singapore), BlackRock (USA), New York Stock Exchange (USA), JPMorgan & Chase (USA), Bloomberg New Economy (USA), and domestic giants like Star Health & Allied Insurance Company Limited, United India Insurance Company Limited, Indian Bank, Kotak Mahindra Bank, Paytm, and Policy Bazaar.

These interactions have resulted in a strong pipeline of potential investments across various sectors, including global benchmark regulation, taxation, banking, finance, IT & ITAS, fintech, techfin, capital markets, insurance, automobile, engineering, pharmaceuticals, e-commerce, BPO, KPO, Ship Leasing, Aircraft Leasing, and other supporting services.

GIFT City's robust ecosystem, coupled with its best-in-class policies and incentives, offers a compelling proposition for companies seeking to expand their operations or establish a new presence in India. With its focus on innovation and sustainability, GIFT-IFSC is poised to become a leading center for global commerce and finance.

Gandhinagar : Gujarat Chief Minister Bhupendra Patel met with Kotak Mahindra Bank Managing Director (MD) and Chief Executive Officer (CEO) Deepak Gupta on Wednesday in a series of meetings ahead of the Vibrant Summit.

Gupta informed the Chief Minister that Kotak Mahindra Bank has started its International Banking Unit (IBU) at the International Financial Services Center (IFSC) of Gujarat International Finance Tech-City (GIFT City), Gandhinagar. The bank has also launched two Digital Banking Units (DBUs) in Surat and Mehsana in Gujarat in partnership with the Government's '75 Digital Banking Units (DBUs) in 75 Districts' initiative.

In addition, under Corporate Social Responsibility (CSR), the Bank in collaboration with Shroff Foundation Trust (SFT) has also launched a CSR project for Skill Development in Gujarat.

The Chief Minister expressed readiness to support the expansion of education and livelihood projects in Gujarat under Kotak Group's CSR. He also invited Gupta to participate in the Vibrant Gujarat Startup Conclave to be held in Ahmedabad in the coming December and the main summit to be held in Gandhinagar on January 10, 2024.

Kotak Mahindra Bank is one of the leading private sector banks in India, and its expansion in Gujarat is a sign of the state's growing economic importance. The bank's IBU in GIFT City will further boost the state's position as a global financial hub.