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The Indian Eye
NORTH AMERICAN Newsline AUGUST 18, 2023 26

Ashish Chauhan honored by Indo-American International Chamber of Ashish Chauhan with Appen P. Menon, President of Indo-American International
Commerce (IAICC) in USA Chamber of Commerce (IAICC)

You joined the largest business corporate this place which has carved its special pore and India and giftings basically Fortunately, things have been going
House of India, the Reliance group and place in history to an even better place a attach free zone outside of Indian on smoothly because of the push from
worked with Mukesh Ambani. Tell us of significance in future. normal jurisdiction know income tax the Prime Minister office of India’s
about your experience. applies for companies outside even office even cooperation from all the
My brother and sister were in the You are still in your early 50s and already companies within the city, don’t have regulators in India and the Govern-
US. They were telling me to migrate have this huge accomplishment of setting to pay taxes. There is no GST, no com- ment of Singapore.
there so I applied for assignments. up GIFT Nifty in Gujarat, which has modity subtraction taxes, stamp duty
However, I started my own company been done very successfully. Tell us how is also not there. Since last 1 year, we Before we call it a day, I would like to
called Exchange Next.com which was this was made possible. have ensured that whenever you are in know from you about your contribution
basically a B2B e-commerce for every Singapore is a trading hub. An the world, when you place an order on in making India the 3rd largest economy,
type of industry in India providing ecosystem has been created where Singapore Nifty index that order will which is the vision of Prime Minister of
matching engines financing, logistics, people from across the world are come to the GIFT exchange. People India. How do you see it happening?
and other things. It was a 100 people trading on Singapore exchange plat- were very apprehensive because first Destiny has been designed for In-
company but when the e-commerce form. Around 2007-08, Mr Modi who time in the world, between two coun- dia to rise now with all the parameters
bubble busted, the funding dried up. was the then chief minister of Gujarat tries, such a set up was done. People in place. Since last 1,000 years, India
It was at that time, Reliance told me visualised similar centre as Singapore thought this may not work but it has has been at the receiving end. For the
that we are setting up a new telecom international financial services centre been a very positive experience till first time now, we are a very techno
company and you can work with us as in Gandhinagar. He had given it the now with smooth operations. In the savvy country. We have leapfrogged
an employee along with your entire name of GIFT and that’s how it has last week of July, we started having many technology cycles, being a fully
team. Mr Ambani told me to clean been known as the gift city. In 2013, we $12 billion trading. on mobile hi-tech country. The amaz-
up their billing process. I could do met at the Bombay Stock Exchange So now international traders are ing miracle of technology is being ad-
that since I had done lot of business and requested to set up an exchange. connecting to the GIFT city via Singa- opted by India in the fastest possible
processes before. Later on, when the We had a meeting for the launch pore exchange. It’s a unique system way. The second thing which works is
group split and I was made the chief of SGX Nifty and GIFT Connect. created between the two countries, our demographics and which creates
information officer (CIO) of the Re- GIFT index is a touch free zone. wherein a unique system is created wealth is that we have huge young
liance Industries group. They also It’s a Special Economic Zone created and you can trade either on GIFT population of around 30 years.
told me to handle the public relations by India where basically way to work exchange or Singapore exchange and In the next 50 years more wealth
of the group. I was also leading the in a system work create a system be- its completely transparent. Risk man- will be created that has been done in
Mumbai Indians as its CEO. tween 2 different countries Singa- agement also happens seamlessly. the last 10,000 years. Next 50 years
are going to be tremendously import-
You are also the honorary chancellor ant for the world in terms of wealth
of the prestigious Allahabad University. creation using cloud adoption, AI, big
Please tell us about that. data, robotics as well as defence and
I have been associated with many genetic modification. Every Indian
education policies of the government. is thinking in their own unique way.
Allahabad University has been called Today to create wealth, we need little
the Oxford of the East. It has been wealth (capital) and loads of brains.
the producer of many top minds of Every day thousands of com-
the country including leaders, bureau- panies are being born. There are
crats and entrepreneurs. However, angel investors and funding plat-
due to increased political atmosphere forms. However, money can be raised
in the University, there was a down- through markets as well. Today we
fall. Now, we are upgrading it again. are the 4th largest stock exchange
We are trying to get funding from the in the world with $3.6 trillion wealth
alumni to improve the infrastructure created. We are the services capital
and appoint more faculty. of the world. Every year we need to
The number of students is rising. Ashish Chauhan presenting to Sunil Hali Ashish Chauhan STHITAPRAGYA, create 15 million jobs. We are getting
We have also created Centres of Ex- The Process of Maintaining Equilibrium to manufacturing as well in a big way.
cellence. The idea is to turn around The future lies ahead.

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