Small-cap IT stock jumps 14% after PM Modi launching company’s IFSC single window system | Stock Market News
Source: Live Mint
Small-cap IT stock: Dev Information Technology share price surged 14% in early trading on September 25. Wednesday, following the launch of the company’s Single Window IT System (SWIT) by Prime Minister Narendra Modi. The system, designed to streamline operations for businesses in India’s International Financial Services Centres (IFSCs), was unveiled on September 16 in Ahmedabad.
The SWIT platform, developed by Dev IT under the guidance of the International Financial Services Centres Authority (IFSCA), aims to simplify bureaucratic procedures and enhance transparency for entities setting up operations in these specialized financial zones. This innovation is expected to boost India’s attractiveness as a global financial hub by reducing the time and effort required for businesses to establish a presence in IFSCs.
Pranav Pandya, Founder & Chairman of Dev Information Technology Limited, expressed his enthusiasm about the project, stating, “We are delighted to be a part of India’s digital transformation journey with the launch of the SWIT. Developed under the guidance of the International Financial Services Centres Authority, this project showcases our ability to create scalable, innovative solutions that simplify complex business processes, enhancing operational efficiency for businesses looking to establish themselves in India’s International Financial Services Centres.”
