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Time of India
4 days ago
- Business
- Time of India
Union finance minister Nirmala Sitharaman calls for fast-tracking reforms at GIFT City
Ahmedabad: Union finance minister Nirmala Sitharaman on Thursday reviewed the progress of GIFT City in Gandhinagar and called for fast-tracking reforms to enhance its competitiveness and align it with the govt's vision of 'Viksit Bharat @2047'. Reviewing the progress of the International Financial Services Centre (IFSC) in Gandhinagar, the minister said India must use its technological strength and large domestic market to position GIFT IFSC as a leading global financial hub. She also underlined the need to attract foreign capital through structured and well-regulated channels. Sitharaman chaired two high-level meetings during her visit. One was with GIFT City officials and regulatory stakeholders along with state and central ministers and officials, and the second with market participants. "Reforms must be implemented over the next few years to accelerate growth and attract foreign capital through well-regulated channels," she said. "India's advantages in technology and its large domestic market should be used to build competitiveness at IFSC. Regulators must identify the financial sector's aspirational needs to support this effort," Sitharaman added. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad In a separate meeting with 21 market participants, she gave suggestions to improve the ease of doing business at the IFSC. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Worst Home Items That People Own, Ranked CleverClassic Undo "Efforts should be made to make GIFT IFSC more cost-effective and attractive for high net-worth individual (HNI) investments," she said. According to Sitharaman, there is also a need to mobilise sovereign and pension funds at the centre and align talent development with its growing mandate. "India's position as a major gold importer should be leveraged to scale up the India International Bullion Exchange (IIBX) and strengthen price discovery, positioning GIFT IFSC as a global bullion hub," she said. GIFT City should also be developed as a modern, sustainable smart city with infrastructure that supports its role as a global financial hub and helps attract skilled talent, Sitharaman said.
Time of India
4 days ago
- Business
- Time of India
Roundtable flags challenges in trade policy, calls for sectoral consensus
MUMBAI: The Centre for Policy Research and Governance (CPRG) flagged key challenges in India's trade policy at a roundtable held in Mumbai on Tuesday, calling for stronger coordination across industry, finance, and policy institutions to address rising trade barriers. Tired of too many ads? go ad free now The session, part of CPRG's ongoing Trade Roundtable Series, focused on the impact of tariff and non-tariff hurdles on steel and aluminum industries and the role of trade finance in ensuring resilience. Hosted at the National Stock Exchange (NSE), the roundtable brought together representatives from financial institutions, manufacturing firms, policymakers, and regulatory bodies. Discussions highlighted how India must adopt a proactive and strategic approach to protect its economic interests amid shifting global trade dynamics. Ashish Chauhan, managing director and CEO of NSE, underlined the potential of India's services sector. 'Our strategy need not be reactionary. While we may work on improving goods exports with finance, technology upgradation, incentives, policies and trade deals, our services and experience-driven sectors have boundless potential,' he said. Senior RSS functionary, Sunil Ambekar, noted the importance of recalibrating India's trade position. 'India has always welcomed international trade, but it's now vital to assert our interests with clarity and strength,' he said. 'This is the right time to strategically renegotiate our trade positions in line with national priorities.' Participants also discussed trade-related priorities such as enhancing the competitiveness of GIFT City, integrating the Unified Payments Interface (UPI) into international trade finance, and aligning trade benefits across multinational corporations and MSMEs. Tired of too many ads? go ad free now CPRG director Ramanand said the roundtable was aimed at fostering cross-sector alignment. 'Continuous dialogue between economists, industry, and institutions is essential to navigate the complexities of the global trade landscape. Our approach should be to build consensus among all stakeholders while also holding India's economic interests on priority,' he said. The CPRG Trade Roundtable Series will continue with sector-focused discussions. The next session is scheduled for June 30 in Delhi and will involve stakeholders from manufacturing and startup sectors.
Associated Press
4 days ago
- Business
- Associated Press
Intellect launches PF Cloud, World's First Open Business Impact AI Platform, Purple Fabric on Cloud at GIFT City
Built on PF Cloud at GIFT City, Purple Fabric enables enterprises to shift from AI experimentation to measurable business impact 'With this launch, we are not offering another AI tool, we are laying the foundation for enterprise transformation'— Arun Jain, Chairman and Managing Director of Intellect GIFT CITY, INDIA, June 26, 2025 / / -- Intellect Design Arena Ltd, a global leader in first-principle-based enterprise-grade financial technology, today announced the launch of PF Cloud, the world's first Open Business Impact AI Platform, Purple Fabric on PF Cloud at GIFT City, India's flagship International Financial Services Centre (IFSC). Anchored in GIFT City's globally competitive, regulation-compliant ecosystem of fintechs, global banks, regulators, and infrastructure providers, this strategic launch marks a significant step in advancing India's vision of becoming a Global AI Services Hub. Intellect's Open Business Impact AI Platform on PF Cloud is a culmination of over a decade of research and 20 million engineering hours, designed to help enterprises move from experimentation to enterprise-grade, accountable AI adoption. Arun Jain, Chairman and Managing Director of Intellect and Chief Architect of Purple Fabric, said, 'With this launch, we are not offering another AI tool, we are laying the foundation for enterprise transformation. Purple Fabric, the Open Business Impact AI Platform on PF Cloud at GIFT City is purpose-built for delivering business impact. It empowers institutions to build intelligence into the very fabric of their operations while staying compliant, secure, and scalable.' Reimagining AI for the Enterprise Purple Fabric redefines the way enterprises engage with Artificial Intelligence. While many organisations are trapped in the 'pilot paradox', testing horizontal tools without measurable outcomes, Purple Fabric delivers a fundamentally new approach. It moves away from generic AI assistance to enterprise-wide, agentic AI systems, powered by design thinking and anchored in contextual business knowledge. Built using the principles of First Principles Thinking, Design Thinking, and System Thinking, Purple Fabric enables organisations to construct an enterprise-grade AI operating layer with embedded governance, traceability, and performance optimisation. It allows institutions to shift from siloed experimentation to connected intelligence, unlocking both scale and speed. Hosted within GIFT City's IFSC, PF Cloud is a sovereign, cloud-native infrastructure designed for secure and compliant AI innovation. It offers a robust foundation for institutions seeking to operate across borders while ensuring adherence to local data and governance mandates. It provides a data-localised, compliance-aligned environment suited for regulated industries, with granular, role-based governance that enables auditability, traceability, and control. Its architecture supports secure, multi-tenant deployments through workspace-level isolation and is built to scale for high-performance enterprise delivery across jurisdictions. This launch positions PF Cloud as a catalyst for enterprise AI adoption within the trusted policy and regulatory framework of GIFT City. Built on Four Powerful Technology Stacks Purple Fabric is architected as a composable AI platform, unifying knowledge, AI agents, model orchestration, and enterprise governance into a single, deployable foundation. It is built on four integrated technology stacks: - Enterprise Knowledge Garden (PF EKG): Serves as the enterprise's curated memory, bringing together structured data, unstructured content, and tacit institutional knowledge. It creates the contextual backbone for all AI responses, enabling reasoning, decision support, and consistent enterprise-wide understanding. - Enterprise Digital Experts (PF EDE): Designed to work alongside human teams. These experts bring over 95% accuracy and are tailored for functional roles across customer engagement, operations, compliance, and more, enabling rapid deployment of AI use cases without the cost or risk of building from scratch. - Enterprise Governance (PF GOVERN): Establishes a robust, federated governance layer across all AI activities. It provides built-in controls for explainability, entitlement, traceability, and compliance. With role-based access, audit trails, and policy enforcement, enterprises can confidently scale AI with assurance of regulatory alignment and operational integrity. - LLM Model Optimisation Hub (PF MOH): PF MOH intelligently orchestrates the use of large language models, selecting the right model for the right task based on parameters like accuracy, latency, and cost. It enables enterprises to balance performance and efficiency while retaining full control over model behaviour, mitigating risks and optimising AI investments. Rather than just offering point solutions, Purple Fabric serves as a strategic AI foundation for institutions, enabling them to build differentiated capabilities in customer engagement, operations, product innovation, compliance, and enterprise decision-making. By launching Open Business Impact AI on PF Cloud at GIFT City, Intellect underscores its commitment to building open, secure, and scalable AI infrastructure for India and the world. The platform has been engineered to support India's aspiration of digital self-reliance, while being fully interoperable with global standards of governance and performance. 'AI must be outcome-led and organisation-owned,' added Arun Jain. 'With PF Cloud, we are offering institutions the tools to architect their own intelligence, reduce complexity, and drive transformative outcomes – at scale and with confidence.' About Intellect Design Arena Limited Intellect Design Arena Ltd is a global leader in enterprise-grade financial technology, delivering composable and intelligent solutions to financial institutions in 57 countries. With three decades of domain expertise, we offer full spectrum banking and insurance products across Wholesale and Consumer Banking, Central Banking, Wealth, Capital Markets, Insurance, Treasury, ESG, and Digital Technology for Commerce. Intellect applies First Principles and Design Thinking to elementalise financial services into Events, Microservices, and APIs, enabling faster, modular transformation. At the core are three platforms: the world's most comprehensive open finance platform; Purple Fabric, the world's first Open Business Impact AI platform; and iTurmeric, a composable integration and configuration platform, empowering institutions to modernise with agility, intelligence, and control. Intellect is a pioneer in applying Design Thinking and our 8012 FinTech Design Center, the world's first Design Center dedicated to Design Thinking Principles, underscores our commitment to continuous and impactful innovation, addressing the ever-growing need for digital transformation. We proudly serve over 500+ customers worldwide, supported by a diverse workforce of solution architects and domain and technology experts in major global financial hubs. For more information about Intellect, visit For Media related info, please contact: Nachu Nagappan Intellect Design Arena Ltd Mob: +91 89396 19676 Email: [email protected] Nachu Nagappan Intellect Design Arena Limited +91 89396 19676 email us here Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
20-06-2025
- Business
- Yahoo
Deakin University GIFT City Campus, India, announced 'Winner' at Economic Times Education Excellence Awards 2025
NEW DELHI, June 20, 2025 /PRNewswire/ -- Deakin University is proud to announce that its GIFT City Campus in Gandhinagar, India, has been awarded 'Winner' in the category of 'Outstanding in Adopting NEP Strategies' at the prestigious Economic Times Education Excellence Awards 2025. The awards ceremony, held at The Leela Ambience Convention Hotel, New Delhi, brought together distinguished educational leaders from across the country. This milestone not only recognises the landmark India's first international branch campus initiative but also celebrates Deakin's three-decade legacy of deep engagement with India. Since becoming the first university to establish an office in India in 1994, Deakin has fostered enduring partnerships across India's academia, industry, and government, forging the path for this transformative new campus. Established in 2024, the campus represents a new model for higher education in India. It is globally benchmarked, digitally empowered, and deeply aligned with the transformative vision of India's National Education Policy (NEP) 2020. "It's an enormous privilege to be part of India's education transformation and support the Indian Government's NEP 2020 ambitions. Our Deakin GIFT City campus provides access to a world-class education for Indian students on their home soil, whilst building on Deakin's deep and longstanding connection and friendship with India. Being in the heart of GIFT City allows us to facilitate opportunities with key global industry tech and finance players," said Professor Iain Martin, Vice-Chancellor, Deakin University. Deakin's GIFT City Campus is the first international branch campus in India. Focused on preparing students for the rapidly advancing digital economy, it offers a vibrant atmosphere that includes cybersecurity laboratories and state-of-the-art digital classrooms. It also facilitates internship opportunities with onsite industry partners. "This is not just a win for Deakin, it's a win for the India-Australia education partnership," said Ravneet Pawha, Vice President (Global Engagement) and CEO (South Asia), Deakin University. "Our GIFT City Campus builds on years of meaningful collaboration and trust earned in India. It reflects Deakin's unique positioning to bring international education closer to Indian aspirations." The GIFT City campus currently offers postgraduate programs in Cybersecurity and Business Analytics, designed with Indian industry partners and delivered at the same standards as offered in Australia. Its first successful placement cycle concluded recently, with students securing paid internships and future roles at National Australia Bank's India Innovation Centre. Deakin's GIFT City Campus has been purpose-built for scalability and sustainability, both across its physical and academic structure. Powered by Deakin's award-winning advanced tech for education delivery model, students benefit from AI-powered learning platforms, virtual labs, and simulations, alongside holistic learner support systems and access-enabling scholarships. As a campus grounded in Deakin's philosophy of 'In India, With India, For India', this recognition affirms their role in helping India realise its NEP goals through globally relevant, locally delivered education. To know more about the Deakin University GIFT City Campus, please visit About Deakin University Established in 1974, Deakin is Australia's most progressive University with a focus on delivering outcomes that benefit the whole of society through exploring and developing great ideas. Deakin excels in both education and research globally and has more than 65 global partnerships. Deakin's South Asia operations commenced in 1994 at New Delhi, India, making it one of the first overseas education providers to set up operations in this region. Here, Deakin engages with the government, industry, and academia to share its vibrant education and research culture. Our strong global footprint allows us to connect with students and partners around the world through our presence in China, Europe, India, Indonesia, South and Central America, and Sri Lanka. For more information on Deakin University, please visit Photo: View original content to download multimedia: Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
16-06-2025
- Business
- Yahoo
Sing Re gets reinsurance branch licence to operate in India
Singapore Reinsurance Corporation (Sing Re) has secured a reinsurance branch licence from the International Financial Services Centres Authority (IFSCA). The regulatory approval enables the company to establish an IFSC Insurance Office (IIO) in Gujarat International Finance Tec-City (GIFT City). The move authorises Sing Re to conduct property & casualty (P&C) reinsurance as a Category – 2 reinsurer within the Order of Preference framework. The new IIO is expected to facilitate Sing Re's access to the Indian reinsurance market. The company provides treaty and facultative reinsurance across various lines including accident, agriculture, casualty, credit, energy, equipment, marine, medical, motor, personal and property business, targeting regions such as Asia-Pacific, Africa and the Middle East. With origins dating back to January 1973, Sing Re has transitioned from a local cooperative to a regional reinsurance entity, focusing on non-life reinsurance treaty and facultative business from Asia, including the Middle East and Indian sub-continent. In 2021, Sing Re underwent corporate changes, becoming a subsidiary of Fairfax Asia, with Fairfax Financial Holdings as the ultimate beneficial owner. Consequently, Sing Re was delisted from the Singapore Exchange on 5 August 2021. The treaty reinsurance covers a wide range of areas including accident and health, agriculture, auto/motor, casualty, marine and energy, marine hull and cargo, medical, professional liability, property and surety and trade credit. The facultative reinsurance services offered by the company encompass casualty, marine and energy, marine hull and property. "Sing Re gets reinsurance branch licence to operate in India " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
