2 days ago
‘Gujarat's recent policy initiatives closely aligned with India's national vision for services sector'
Written by Jay Jani
Gujarat's recent policy initiatives are closely aligned with India's national vision for the services sector, said Mona Khandhar, Principal Secretary of the Department of Science and Technology (DST), at a round table recently organised by the Gujarat Department of Science and Technology (DST) and HSBC at the GIFT City to promote Global Capability Centres (GCC) Policy 2025-30.
Around 27 Chief Executive Officers (CEOs), Chief Financial Officers (CFOs) and senior executives of 27 leading national and international companies participated in the event.
Addressing the gathering on Thursday, Khandhar said, 'In just the past year, the Gujarat government has implemented over five key policies to promote innovation, investment, and institutional development.'
She also underlined Gujarat's strengths, including 'a robust legal-administrative framework and gender-inclusive business environment, making it one of the most trusted and investment-friendly destinations in India'.
Opening the discussion, Mr Avasar Vipathi, CEO of HSBC and Head of GIFT City Branch, reiterated HSBC's commitment to supporting investment and innovation in Gujarat.
Avantha Vamshra, Managing Director and Head of Markets and Securities Services, HSBC India, praised the state's fast-paced development and emphasised the crucial role GCCs could play in the next growth phase. She noted that Gujarat's ecosystem offers structural support for Research & Development (R&D), talent development, and sustainable expansion.
During the session, officials from GIFT City and the DST gave detailed presentations on the government's key industry incentives and the policy framework supporting GCC growth. Industry participants expressed enthusiasm about expanding their operations in Gujarat and praised the 'clarity and pro-investor approach' of the GCC policy. Many remarked that the CaPEX (Capital Expenditure) and OpEX (Operational Expenditure) support offered would significantly aid long-term organisational planning and scalability.
(Jay Jani is an intern with The Indian Express)
