This initiative is part of a broader strategy to position GIFT City as a global hub for financial technology services
The National Payments Corporation of India (NPCI), the organisation behind some of India’s most transformative digital payment infrastructure, has applied to establish a ‘techfin’ unit at Gujarat International Finance Tec-City (GIFT City).
The move adds to the growing list of technology companies setting up operations in India’s only International Financial Services Centre (IFSC), reinforcing GIFT City’s emergence as a global hub for financial technology services.
According to the proposal, NPCI plans to establish the unit on the 18th floor of the newly-constructed International Financial Services Centres Authority (IFSCA) headquarters building within GIFT City’s Special Economic Zone (SEZ).
The proposed facility will cover approximately 474 square metres and is expected to employ 25 professionals, comprising 13 men and 12 women. The entity will operate as a branch office, with the project being funded by NPCI’s head office.
Founded in 2008, NPCI is the umbrella organisation for retail payments and settlement systems in India. It has played a pivotal role in transforming the country’s digital payments landscape by developing platforms such as the Unified Payments Interface (UPI), RuPay, Immediate Payment Service (IMPS), National Automated Clearing House (NACH) and Bharat BillPay. NPCI’s entry into GIFT City’s techfin ecosystem reflects its expanding focus on technology-driven financial innovation beyond domestic payment infrastructure.
Digital solutions
The proposed unit will undertake techfin activities under the IFSCA TechFin and Ancillary Services Regulations, 2025. Introduced earlier this year, the regulatory framework enables technology companies to provide digital solutions and ancillary services to banks, insurance companies, capital market intermediaries, fintech firms and other regulated entities operating from GIFT IFSC.
The initiative forms part of IFSCA’s broader strategy to position GIFT City as a globally competitive financial technology and innovation hub.
NPCI’s application comes amid rising interest from technology firms seeking to establish a presence in the international financial centre. Last month, Navadata Intelligence IFSC LLP also applied to set up a techfin services unit at the Shilp Incubation Centre in GIFT City’s SEZ. The company plans to operate as a techfin service provider, with its designated partners funding the venture through capital contributions.
5,600 jobs
Several leading technology companies have already operationalised or announced techfin centres in GIFT City. These include Infosys, Cognizant, HCL Technologies, Wipro and Hexaware, which are collectively expected to create more than 5,600 jobs over the coming years. Their centres are focused on developing technology solutions for banking, capital markets, insurance, wealth management and other regulated financial services for both Indian and global clients.
The techfin ecosystem is expected to expand further as more firms receive approvals under the IFSCA framework.
So far, around 18 entities have either secured regulatory approvals or announced plans to establish techfin operations in GIFT City.
Industry estimates suggest the sector could eventually generate nearly 50,000 high-skilled jobs, positioning GIFT City as a specialised destination where technology and financial services converge to support cross-border innovation and serve global financial institutions.
Published on July 8, 2026
