Pandey will take over the charge from August 1, the company said in a statement.
He has three decades of global and domestic experience in the field of telecommunications and has worked in senior management positions in Tata Telecommunications, Tata Teleservices and Neotel.
Pandey will replace the current head of GIFT, Ramakant Jha, who has been associated with the project since November 2009. Jha will move to Mumbai as CEO of IL&FS's Smart City initiative.
India's first International Financial Services Centre (IFSC), GIFT City in Gujarat became operational in April.
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