GIFT smart city project gets a new CEO


Ajay Kumar Pandey will take over as Managing Director & Group CEO of Gujarat International Finance Tec-City Company Ltd or GIFT with effect from August 01, 2015.

Incumbent head of GIFT, Mr. Ramakant Jha, who has successfully steered this project since November 2009, to make it India’s first global level ‘Smart City’ as well as country’s first International Financial Services Centre (IFSC), will move to Mumbai as CEO of IL&FS’s Smart City initiative.

“Considering the large experience of Mr. Ramakant Jha in the field of infrastructure, urban development & Smart City, IL&FS has requested him to spearhead the IL&FS Group’s activity for Smart City and take over the charge as CEO of this important initiative from August 01, 2015,” GIFT said in a statement.

Ajay Kumar Pandey has three decades of global & domestic experience in the field of telecommunications, including at companies such as Tata Telecommunications, Tata Teleservices and Neotel.

Gujarat International Finance Tec-City (GIFT City) is India’s First Global Financial Hub. Part of GIFT City is notified as multi-service SEZ with International Financial Service Centre (IFSC) status which is catering to India’s large financial services potential by offering global firms, world-class infrastructure and facilities. It is attracting the top talent in the country by providing the finest quality of life.

It is estimated that GIFT would provide 5 lakh direct and an equal number of indirect jobs which would require 62 million square feet of commercial, residential & social facilities with total investment of about Rs. 78000 crore over next 10 years.