Ajay Kumar Pandey was appointed as new Managing Director and Group CEO of Gandhinagar based Gujarat International Finance Tec-City (GIFT City). He will succeed Ramakant Jha as he was appointed as CEO of Mumbai based IL&FS’s Smart City initiative. Jha was associated with GIFT City project since November 2009. Ajay Kumar Pandey has more than three decades of global and domestic experience in the field of telecommunications. He had worked in various senior management positions in Tata Telecommunications, Tata Teleservices and Neotel. About GIFT City GIFT City is a central business district in Gandhinagar, Gujarat built on 886 acres. Implemented by: Joint Venture Company of Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS). The city comprises special economic zone (SEZ), international education zone, integrated townships, international techno park, Software Technology Parks of India (STPI) units, stock exchanges etc. Its main purpose is to provide high quality physical infrastructure to finance and tech firms can relocate their operations. This initiative is brainchild of Prime Minister Narendra Modi and was initiated at the time he was chief Minister. Note: India’s first International Financial Services Centre (IFSC) has become operational in April 2015 in GIFT City.
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