Latest news with #BhupendrabhaiPatel
Mint
a day ago
- General
- Mint
Ahmedabad Plane Crash Today Live Updates: Air India flight crashes near airport; Amit Shah speaks to Gujarat CM
12 Jun 2025, 02:44 PM IST Ahmedabad Plane Crash Today Live Updates: As soon as the report of the crash of AI flight AI171, from Ahmedabad to London, spread, Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu took to X and said he is devastated to learn about the crash. He also said that the Ministry is on highest alert. He wrote, "Shocked and devastated to learn about the flight crash in Ahmedabad. We are on highest alert. I am personally monitoring the situation and have directed all aviation and emergency response agencies to take swift and coordinated action." "Rescue teams have been mobilised, and all efforts are being made to ensure medical aid and relief support are being rushed to the site. My thoughts and prayers are with all those on board and their families." 12 Jun 2025, 02:38 PM IST Ahmedabad Plane Crash Today Live Updates: Union Home Minister Amit Shah has spoken to the Gujarat Chief Minister Bhupendrabhai Patel, state Home Minister and the Ahmedabad Police Commissioner regarding the plane crash. He also assured to provide Central government assistance. 12 Jun 2025, 02:37 PM IST Ahmedabad Plane Crash Today Live Updates: Soon after the crash, Air India took to X and wrote that 'Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details and will share further updates at the earliest and on our X handle." 12 Jun 2025, 02:31 PM IST Ahmedabad Plane Crash Today Live Updates: Gujarat CM Bhupendrabhai Patel has reached Ahmedabad.
Hindustan Times
3 days ago
- Business
- Hindustan Times
Infosys leases over 1 lakh sq ft office space in GIFT City for ₹57.26 lakh monthly rent. Here's all we know
Tech giant Infosys Limited has leased 1.03 lakh sq ft office space in Gujarat's GIFT City for a monthly rent of ₹57.26 lakh for 10 years, lease documents accessed by Propstack showed. Real estate experts say the deal is expected to boost the commercial real estate market in the area. Infosys has leased office space in the PRAGYA-2 building, located in Gandhinagar, Gujarat. The development centre spans four contiguous floors (14 to 17) and is designed to accommodate up to 1,000 employees. Real estate experts say this move marks a significant expansion of the IT major's footprint in India's only operational International Financial Services Centre (IFSC). According to the lease documents, the rental agreement commenced in October 2024 and is valid for 10 years. Infosys is paying ₹55 per sq ft per month on the chargeable area of 1.03 lakh sq ft and ₹108 per sq ft per month on the carpet area, which measures 53,020 sq ft. The lease includes an annual rent escalation of 5%. Infosys has paid a security deposit of ₹3.43 crore to the landlord, Savvy Realty Creators LLP. The agreement also provides for 71 dedicated car parking slots, with the option to lease additional spaces at ₹2,000 per slot per month. The lease carries a lock-in period of three years, documents showed. The office space was officially inaugurated on June 7. "It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients. Its services will span critical domains including digital banking, regulatory affairs, trade finance, capital markets, cards and payments, as well as risk and compliance management," Infosys said in a regulatory filing. The new development centre was inaugurated by the Chief Minister of Gujarat, Bhupendrabhai Patel, on June 7. Jayesh Sanghrajka, Infosys's chief financial officer, was quoted as saying, 'Setting up our Development Centre in GIFT City is a strategic step aligned with our vision of leading innovation in financial services from within India's foremost international financial hub. GIFT City offers a robust, future-ready environment that enables digital transformation through cutting-edge technologies such as AI, Gen AI, cloud, and blockchain. This presence not only strengthens our global delivery model but also reinforces our long-term commitment to the region's economic development and digital evolution.' Email queries have been sent to Infosys and Savvy Realty Creators. If a response is received, the copy will be updated. Also Read: GIFT City in Gujarat: Here's what you should know about India's first IFSC and a global financial hub Located between Ahmedabad and Gandhinagar, Gujarat International Finance Tec-City, better known as GIFT City, sprawls over 880 acres along the Sabarmati River. The city is structured into two key zones: a Special Economic Zone (SEZ) tailored for export-oriented businesses, and a domestic area designed to support residential and commercial activity. About 30% of the city is currently developed and operational, with another 30% designated for upcoming housing and community spaces. Real estate experts said that the Special Economic Zone (SEZ) area within GIFT City exhibits negligible vacancy in commercial Grade A assets, indicating high demand. "The SEZ micro-market demonstrates minimal vacancy levels, recorded at 1.46% and strong annual net absorption of 0.5 million square feet in 2024. While the current supply is tight, new commercial inventory is anticipated by the end of 2025. The rentals for Grade A buildings are on an upward trajectory, reaching north of ₹70 per sq ft per month," Samantak Das, executive director and head of research and REIS, JLL India, told Experts pointed out that the robust commercial ecosystem is further strengthened by the presence of major financial and IT companies, including Infosys, Cognizant, Infineon Technologies, Accenture, Wipro, Bank of America, Morgan Stanley, and JP Morgan. On the residential front, Das said over 14 million sq ft (about 23%) of the city's total construction allocation is dedicated to residential development and 6 million sq ft (about 10%) to social development. Also Read: GIFT City liquor permit rules eased; Real estate developers say move to attract investments Real estate experts say investors can expect a return on investment (ROI) in the range of 7% to 8% in Gift City, which is considered healthy given the market conditions and the city's rapid development trajectory. "Investors should first understand the distinction between the Domestic Tariff Area (DTA) and the International Financial Services Centre (IFSC), as both zones offer distinct advantages. GIFT City has gained attention on the global stage, drawing interest from international investors due to its phenomenal growth story. Whether investing in residential or commercial assets, GIFT City presents a promising opportunity," Rumit Parikh, senior director of occupier strategy and solutions at Knight Frank India, said. Additionally, there is no Goods and Services Tax (GST) on services received by an Indian Financial System Code (IFSC). "Similarly, transactions conducted on IFSC exchanges are also exempt from GST. Investors continue to benefit from exemptions on Securities Transaction Tax (STT), Commodities Transaction Tax (CTT), and stamp duty for transactions carried out on IFSC exchanges," Das said.
Business Upturn
6 days ago
- Business
- Business Upturn
Infosys inaugurates new Development Center at GIFT City to boost BFSI Tech services
Infosys (NSE, BSE, NYSE: INFY), a global leader in digital services and consulting, has inaugurated its new Development Center (DC) at Gujarat International Finance Tec-City (GIFT City), Gandhinagar. The newly launched facility is designed to support over 1,000 employees operating in a hybrid work model. The center will serve as a strategic TechFin hub, focusing on delivering advanced digital solutions to global Banking, Financial Services, and Insurance (BFSI) clients. Key service areas include digital banking, regulatory compliance, capital markets, trade finance, cards and payments, and risk management. Infosys will harness cutting-edge technologies such as Artificial Intelligence (AI), Generative AI (Gen AI), cloud, APIs, blockchain, and cybersecurity to provide seamless cross-border digital services and enhance client engagement. The Development Center was inaugurated by the Hon'ble Chief Minister of Gujarat, Shri Bhupendrabhai Patel. Infosys CFO Mr. Jayesh Sanghrajka, Senior Vice Presidents Mr. Niladri Prasad Mishra and Mr. Rajneesh Malviya, along with senior government officials, were present at the event. Aligned with Infosys' ESG (Environmental, Social, and Governance) goals, the facility integrates sustainable design features including energy efficiency, water conservation, and smart operational systems. The workplace also supports collaboration, productivity, and innovation through a future-ready hybrid office model. This initiative reinforces Infosys' commitment to strengthening India's role as a global financial technology hub and driving innovation in the BFSI sector. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
NDTV
22-05-2025
- Automotive
- NDTV
HMSI To Invest Rs 920 Crore In Vithalapur Plant; Crosses 50-Crore Production Landmark
Honda Motorcycle & Scooter India (HMSI) announced on Thursday the expansion of the production line at its Vithalapur plant in Gujarat, committing Rs 920 crore. Planned to begin operation in 2027, the new line will have an annual production capacity of 6.5 lakh units, bringing the total capacity of the fourth plant to 26.1 lakh units. This facility will become Honda's largest assembly plant in the world. The company achieved a 50 crore cumulative global production of engine/motor-powered motorcycles. Globally, Honda started operations 76 years ago with the production of the Dream D-Type in 1949. Celebrating the milestone, Honda's top global official and Gujarat chief minister Bhupendrabhai Patel unveiled a special '500 million' logo. The celebratory logo was used on a Honda Activa unit, which was the 50-crore unit rolled out. Honda Motorcycle and Scooter India currently has four production plants in Manesar, Tapukara, Narsapura, and Vithalapur, with a total annual production capacity of 61.4 lakh units. The fourth line at the Vithalapur plant will expand the cumulative production volume to 70 lakh units. This Honda plant in Gujarat is dedicated to scooters, and the company claims 7,700 units are manufactured in a day. The company exports two-wheelers to 23 countries from the Vithalapur facility. Tsutsumu Otani, President & CEO, of HMSI, said, "Honda has long been investing and expanding its production capacity in India, the world's largest motorcycle market, to bring joy to its customers. 25 years on, with much support, HMSI has reached the milestone of 70 million units of cumulative production. With the additional investment in our fourth plant, Honda will continue to deliver attractive products and services to its customers around the world who have higher expectations and trust in the company, and further solidify its Indian motorcycle business."
