Pune: Gujarat International Finance Tec-City or GIFT City MD & CEO Sanjay Kaul met representatives of three to four large corporate and a couple of fintechs headquartered in the city to evince interest in starting offshore operations from the India’s sole International Financial Services Centre (IFSC).“We have come to Pune to tell the manufacturing sector that what you have been doing overseas you can do it from within India from GIFT City. We are disseminating information and engaging with the companies operating here,” he said on Thursday while speaking at a media roundtable here.He said that operating from GIFT City gives manufacturing and engineering companies cost advantage and better ability in transacting in trade finance instruments such as working capital requirements, factoring, letters of credit and bank guarantees.Companies will be able to bridge time zones between Asia, Europe, and the Americas on account of operating from a single location and maintain a sustainable and scalable operations for various treasury activities through optimal utilisation of financial resources.Kaul said that the GIFT City sees 40 registrations a month on average and that the inquiries have been increasing at a steady pace.
