Fund administrator and corporate services provider Vistra has received regulatory approval to set up operations in India’s new Gujarat International Finance Tec-City (GIFT City) – a global financial and IT hub.
GIFT City is an ecosystem designed to provide businesses with a platform to enable commerce and collaboration. In a statement, the hub said it has been designed to not only align to exacting standards, but to exceed global benchmarks for similar jurisdictions around the world.
The collaboration marks a continuation of the growth Vistra India has experienced in recent years, despite the challenges posed by the pandemic. The team is made up of 1,000 professionals based in India, servicing more than 150 global clients and managing payrolls for over 160 global employers.
Shikha Bagai, country managing director, India and Mauritius at Vistra, said: “This expansion into GIFT City represents a fantastic opportunity for us and the nation to grow and connect with different financial hubs around the world.
“In the future, we see GIFT City at the heart of our efforts to help organisations realise the potential of expanding into the Indian market. We are excited to soon offer our support and services from GIFT City to both existing and future clients and are confident we have an even brighter future ahead.”
Vistra follows in the footsteps of Apex Group, who received regulatory approval for GIFT City back in November.