The International Fintech Innovation Hub in GIFT City will become functional by January 2025 in partnership with Asian Development Bank (ADB), a senior official said at the global fintech fest.
The hub will focus on three key pillars, the first being the International Fintech Institute, which will be created in partnership with a renowned international institute and an Indian partner to come and train people on fintech and create a talent pool.
“Bids from these institutes have already started coming in, and we will be finalising them by the end of September,” Saurabh Singhal, chief commercial officer & chief fintech officer of GIFT City, told FE on the sidelines.
About 90% of this talent pool needed will be related to either finance or technology, as is allowed in the special economic zone, Singhal said.
There are more than 100 fintech firms in GIFT City, with total employment crossing 25,000 and in the next five years expected to touch 1.5 lakh employees, he said.
In February, ADB had approved a Rs 2.3-crore loan for fintech education, research and innovation at GIFT City.