By Abdul hafiz lakahni Ahmedabad
It is almost certain that Gujarat and Dubai will come very close on economic and finance front as a very senior minister from Gujarat governmnet who was recently in Dubai to discuss the modalities of GIFT city.Minister Mr. Saurabhabhai Patel who returned from Dubai after a three-day tour recently said his agenda to promote Gujarat InternationalFinance Tech (GIFT) City was very successful. During his visit, the Finance Minister met various authorities dealing with Dubai International Finance Centre (DIFC), Dubai Multi Commodity Centre (DMCC) and Dubai Metro in view of the development of GIFT City as a GlobalFinancial Hub.It is to be noted that developing country’s first Global Financial Hub at GIFT City as smart city has been the vision of Indian Prime Minister Mr. Narendra Modi, and the Gujarat Government with the help of Central Government is taking all necessary steps to implement this vision which will transform State of Gujarat and India as a whole and create large number of jobs
Dubai wants toexpand its business ties with India and projects like GIFT City, Metro & Diamond business, provides great opportunity for both the countries to partner in the development and business operations for mutual benefits, the Ministe rsaid .
During those meetings, Mr. Patel had a wide range of discussion with Chairman and top officials of these organisations. They included Mr. H.E. Matter Al Tayer – Chairman of the Board and the Executive Director, RTA, Dubai. Mr. Abdulla Yousif Al Ali – CEO Rail Agency, Jeffrey Singer CEO, DIFC, Chirag Shah, Head Strategy, DIFC, Mr. Ahmed Bin Sulayem, Executive Chairman DMCC, and Mr. Gautam Shashithal, CEO, DMCC. Their talks had evoked an overwhelming response to participate in the development of GIFT City and shown good confidence in making investment in Gujarat.
The authorities of these organisations also shared their experience of developing DIFC and the DMCC and they also agreed to exchange information with GIFT officials. These organisations have also agreed to enter into MoU to collaborate with each other in the development and promotion of GIFT City.
They had shown a keen interest in the International Financial Services Centre (IFSC) in GIFT City. As GIFT City is on fast track development and is making inroads in the map of Global Financial Hubs and Dubai has already created financial hub under DIFC, as collaboration for mutual promotion fits in the objective of both centres.
The Minister also had discussion about that the Gujarat is getting ready to host diamond business in the collaboration with the Gold Souk authorities and DMCC in Dubai for establishing India’s largest Diamond Business in Surat. Gold Souk and DMCC agreed to form alliance with Gujarat Government to help it in establishing Diamond Business in Surat.
Mr. Patel had also met the key officials of Road & Transport Authority (RTA)- (Dubai Metro) to understand the planning, development and operation of the Metro system in Dubai and the possible areas of cooperation between Gujarat Government and RTA, Dubai
– The writer is a senior journalist in Ahmedabad. He can be reached at Abdulhafizlakhani@gmail.com