NOIDA: A proposal for the development of Noida as an International Finance Technology City (NIFT) on the lines of Tokyo, Shanghai, Paris and London, has been prepared and sent to the state government of Uttar Pradesh by the Assocham. The proposed city could generate additional 1.2 million direct and indirect job opportunities by the year 2020 in identified areas with growing infrastructure like the DND toll bridge, Metro connectivity, projected international airport, the Yamuna Expressway and export processing zone.
A survey conducted by the industry body in many north Indian cities has revealed that Noida is best suited to be a NIFT city due to large tracts of developed infrastructure, good communication network and a large pool of qualified and trained workers. “The study has been submitted to Uttar Pradesh chief minister Mayawati. We have laid particular emphasis on the concept of NIFT city in line with several big cities of the world,” said secretary general of Assocham, D S Rawat. “This model will create over a million new jobs, spur economic growth in India and make the UP exchequer richer by increase in 10 per cent of the state GDP,” added Rawat.
The industry body has offered expertise of its international constituent experts to the state government for the development of NIFT. The sectors, which are promising in particular for development of NIFT, include financial services operations, IT services, capital markets and trading, ITeS, and BPO and KPO services. “Transforming Noida into such a city will also help the state government to further identify and develop new satellite townships,” said Rawat.
“Noida has been planned on the grid iron concept and employs modern technology in engineering, urban planning and architecture. The city’s conceptualization is absolutely in tandem to meet the needs of a fast developing city of the future,” said Rawat.
Ayaskant Das, TNN | Oct 19, 2011, 04.19AM IST
