PW and Co LLP inaugurates its office at GIFT City

The global consultancy will be amongst the Big 4 Audit and Tax firm to set up office in India’s first International Financial Services Centre (IFSC)

PW & Co LLP is a member firm of PricewaterhouseCoopers International Limited (PW & Co LLP). PW & Co LLP is a multinational professional services network of firms operating as partnership under the PW & Co LLP brand. PW & Co LLP was granted a license to operate as an ancillary service provider in Gujarat International Finance Tec-City (GIFT City), 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 IFSC.

Mr. Tapan Ray, MD and Group CEO, GIFT City, appreciated the announcement and said, “As India’s fast developing international financial services centre, we need to take full advantage of the evolving financial services ecosystem and build on it further through meaningful collaborations. 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.”

Mr. Jaxay Shah, Group CMD, Savvy Group said, “We are delighted to host PW & Co LLP at our office tower Pragya in GIFT City. We have received tremendous interest from global institutions present in this tower which is almost occupied. 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.”

In 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 with average daily trading volume of USD 14 Bn+, IFSC Banking Units including domestic and foreign banks with asset side of USD 22 BN+, brokers, depository, capital market intermediaries, Insurers, and ancillary service providers.

GIFT City IFSC is developing various new lines of businesses such as aircraft leasing & financing, international bullion exchange, ship leasing, fintech etc. The role of global consultancy firms is important to engage with foreign investors looking to participate in GIFT IFSC.