BANGALORE: In what would be a move to improve the country sagging economy as well as the slowdown of the job market, Prime Minister Narendra Modi's favorite project Gujarat International Finance Tec-City has the potential to generate over 10 lakh jobs by 2022.

GIFT city, which is being developed by the Gujarat government, aspires to cater to India's large financial services potential by offering global firms a world-class infrastructure and facilities.

"It is a pet project of Narendra Modi. He was monitoring it personally when he was the chief minister. What we are doing is that we are implementing his brainchild. New Chief Minister Anandiben Patel has also been a part of the project.

"If you take the job potential in expanding economy of the country, on a pan-India basis about 10 lakh jobs can be created," GIFT MD & Group CEO Ramakant Jha said.

The Rs 65,000-crore project is being developed on the lines of global financial services centres, spread over three phases of development to be completed by 2022.

GIFT city has two components of development -- domestic financial centre and international financial services centre.
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