GIFT City and ANSR join hands for building Global In –house Centres (GICs) and Global Capability Centres (GCCs) at GIFT City.
ANSR, a Global Market Leader in the business of designing, establishing and operating Global In –house Centres (GICs) has joined hands with GIFT City, India’s only operational International Financial Services Centre (IFSC) to attract the global in-house centres to set up high end processing centres related to financial services at GIFT City.
The Central Government notified Global in-house Centres (GICs) as a financial service relating to financial products and financial services under the IFSCA Act on 16 October 2020. Subsequently, on 12 November 2020, the IFSC Authority (IFSCA) notified the IFSCA (GIC) Regulations, 2020 covering the operating framework to recognize and operationalize Global in-house Centres (GICs) in GIFT IFSC.
The model of GICs has transformed the global landscape in the past two decades. GIC model has proven to efficiently deliver support services augmented with digital and technological advancements. The pandemic has stimulated the model of GICs and GCCs further to show that disruptive digital technology coupled with innovative delivery models and capable talent pool are a transformational way of doing business. India has proven its competence for establishing GICs or GCCs to economically deliver high-quality work.
A ‘GIC’ in GIFT IFSC can provide support services, directly or indirectly, to entities within its financial services group. The regime at GIFT SEZ provides benefits such as a competitive tax, ease of doing business, comparatively lower operational costs and state-of-the-art infrastructure.
Speaking about the collaboration with ANSR, Mr. Tapan Ray, MD and Group CEO, GIFT City, said, “Recent regulatory changes and tax incentives have made it an attractive proposition for setting up GICs and GCCs at GIFT City. This will provide an opportunity to utilize the large untapped talent pool with state-of-the-art infrastructure. ANSR’s long standing industry experience and domain expertise will provide a boost to benchmark GIFT City as the ideal destination for setting up GICs & GCCs in India”
Elaborating on the collaboration, Mr. Lalit Ahuja, Founder and CEO of ANSR, the market leader in designing, establishing and operating GICs said, “We are very excited to be partnering with GIFT City, to enable the transformation of this unique and ‘one of a kind’ eco-system into a preferred global location for GICs/ GCCs.”
“GIFT City provides a very compelling combination of truly world-class infrastructure, top talent, a progressive and business friendly administration and a host of financial incentives. Our partnership with the stakeholders of GIFT City will set the path for an accelerated development of the region as an important location for leading global companies establishing business critical capabilities. ANSR is committed to leverage this partnership to build a slew of unique GIC platforms to put GIFT City firmly on the global GIC map”, Mr. Ahuja added.
ANSR is a GIC consulting firm which has established over 75 GICs hiring more than 75,000 employees. ANSR’s clients include companies like Wells Fargo Bank, Silicon Valley Bank, CME, Transunion, Target, Delta Airlines, PepsiCo, Lowe’s etc.