Siemens signs MoU with IL&FS, GIFTCL to develop smart mobility solutions for the tec-city

MUMBAI: Siemens today said it has signed an MoU with Infrastructure Leasing and Financial Services (IL&FS) and Gujarat International Finance Tec-City Company (GIFTCL) to develop smart mobility solutions for the tec-city.

"Siemens has signed an MoU with IL&FS and GIFT to develop smart mobility solutions for the tec-city," the company said in a statement here.

GIFT is a 50:50 joint venture of Gujarat Urban Development Company and leading infrastructure development company IL&FS.

"India is a highly-attractive market where Siemens is already very well represented. The most recent move has been an agreement to establish additional local competences, which will support the make in India program which focuses on energy management, mobility, smart cities and health technology," Siemens President and CEO Joe Kaeser said.

GIFT is one of the most ambitious projects being designed as a hub for the global finance services industry. Over the medium term, GIFT expects to generate 5,00,000 direct jobs and another 5,00,000 indirect jobs.