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.

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.

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.

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.

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.

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.

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.

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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