PricewaterhouseCoopers' arm PW & Co LLP set-ups office at GIFT City

PW & Co LLP, a member firm of PricewaterhouseCoopers International Ltd, on Monday inaugurated its office in Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. Its new office will be one of the largest set-ups in GIFT City in the tax and regulatory space for providing services to entities intending to set up their presence in international financial services centre (IFSC), according to an official statement.

PW & Co LLP was granted a licence to operate as an ancillary service provider in GIFT City.

"With the enhanced presence of an international institution, like PwC at GIFT City IFSC, we are confident of rapid growth in the ancillary services segment, with other big players also establishing their presence here," Tapan Ray, MD and Group CEO, GIFT City, said.

Jaxay Shah, Group CMD, Savvy Group said, "With the rising demand of global and Indian companies flocking to GIFT City, we will be commencing development of additional commercial and residential towers shortly."

Over the last few years, GIFT City has had an upward growth trajectory in terms of business transactions and presence of renowned domestic as well as global players.

The units in IFSC include two international exchanges, IFSC Banking Units including domestic and foreign banks, brokers, depository, capital market intermediaries, insurers, and ancillary service providers.