The International Fintech Innovation Hub at GIFT City will begin operations by January 2025 in collaboration with the Asian Development Bank (ADB), a senior official said at the global fintech fest.
The center will focus on three pillars: The first is the International Fintech Institute, which will be established in collaboration with a renowned international institute and an Indian partner to train people in fintech and build a talent pool.
“Offers from these institutions have already been received and we will finalise them by the end of September,” Saurabh Singhal, Chief Commercial Officer and Chief Fintech Officer, GIFT City, told FE on the sidelines of the event.
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About 90 percent of the talent needed would work in either finance or technology, as is allowed in the special economic zone, Singhal said.
There are more than 100 fintech companies in GIFT City with a total of over 25,000 employees and the number of employees is expected to rise to 150,000 in the next five years, he said.
In February, the ADB had approved a loan of Rs 23 million for fintech training, research and innovation at GIFT City.
