Google's Fintech Operation Center in GIFT City, Gujarat: Fueling India's Digital Revolution

Tapan Ray, Managing Director and Group CEO of GIFT City, sees Google's fintech operation center as a significant step towards realizing Prime Minister Narendra Modi's vision of making GIFT City a global fintech hub.

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Gujarat has played a pivotal role in the digital revolution, thanks to its IT penetration and Digital Gujarat programs that have brought about a new era of communication and technology.

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According to Forbes, the operations center will support Google Pay, which accounts for a substantial share of Unified Payments Interface (UPI) transactions in terms of volume and value.

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Google's decision to set up the operation center in Gujarat reflects its confidence in India's market potential, driven by the country's strong engineering talent, digital infrastructure, and the government's API vision.

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Forbes highlights Google's focus on building software with access to government IDs (Aadhaar) and payment networks (UPI), showcasing its commitment to integrating with India's digital ecosystem.

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During his visit to India in December, Google CEO Sundar Pichai announced a $10 billion investment in the country over the next five to seven years, further demonstrating Google's belief in India's growth potential.

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With Gujarat emerging as a fintech leader, India is poised to become a formidable force in the global fintech landscape, especially with the United Payments Interface (UPI) and Aadhar ID systems.

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GIFT City is experiencing rapid growth and has become a prominent hub with multinational banks, international stock exchanges, fintech entities, and India's first bullion exchange, fostering a thriving financial ecosystem.

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