Gujarat International Finance Tec-City (GIFT City) is fast becoming a vital hub for international finance and business activity. The Focus on Gujarat International Finance Tec-City (GIFT City) 2024, published today, provides key updates on the city’s impressive strides in establishing itself as a global financial hub. It showcases how the city has become a centre for innovation, financial services, and business activities.
In April 2015, the Government of India launched its initiative to establish the country’s first globally-benchmarked International Financial Services Centre (IFSC) at GIFT City. The aim was to help realise India’s potential in the global financial services industry by creating a strategically located efficient platform for facilitating both inbound and outbound financial transactions.
Over the years, GIFT City, which is also India’s first operational smart city, has become a host to financial and technology majors from across the globe. It offers an ideal ecosystem for domestic and international businesses with its advanced infrastructure, skilled workforce, unified regulatory framework for ease-of-doing-business, and relatively lower cost of operations.
Located just 20 minutes from Ahmedabad International Airport, GIFT City enjoys seamless connectivity to major global financial centres, including New York, London, Dubai, and Singapore. Being part of Gujarat’s knowledge corridor, it benefits from a continuous talent pipeline, supported by leading Indian and international academic institutions.
The IFSC at GIFT City enables cross-border financial products and services within a competitive tax environment. Governed by the International Financial Services Centres Authority (IFSCA), GIFT City boasts a business-friendly ecosystem underpinned by a robust regulatory framework. It has emerged as a prime destination for global businesses such as Capability Centres, Corporate Treasury Centres, FinTech companies, and investment funds.
Contact
We hope that you find the report of interest. If you would like to connect with GIFT City, you can email a question to query@giftgujarat.in or call GIFT City at +91-79-61708300.
Mike Wardle, Chief Executive of Z/Yen, said: “India’s contribution to the world economy is vital and GIFT City’s development as an international hub for finance in India is important in linking India to the rest of the world. Today’s report shows GIFT City’s, and its steady development ensures its growing importance as an international financial centre in the Asia/Pacific region.”
GIFT City MD and Group CEO Mr. Tapan Ray said, “GIFT City is fast emerging as a premier global financial hub, showcasing India’s ambition to be a significant player in the international financial services sector. With world-class infrastructure, a unified regulatory framework, and a thriving business ecosystem, we are delivering unmatched ease of doing business for global enterprises.
GIFT City’s focus on fostering innovation, attracting top-tier talent, and delivering excellence in financial solutions will no doubt reshape India’s financial landscape, driving the nation’s integration into global markets and advancing its stature as a preferred destination for businesses worldwide.”
ENDS
Notes For Editors
GIFT City
GIFT City, India’s first operational smart city and maiden International Financial Services Centre (IFSC), is a global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. As a leading Central Business District (CBD), GIFT City offers significant advantages such as reduced operational costs, favourable tax policies, and a vibrant community, making it the top choice for global and domestic companies in BFSI, IT/ITeS, fintech, international education, and other service sectors.
A ‘Project of National Importance’, GIFT City encompasses office spaces, residential areas, school, hospital, hotels, clubs, retail outlets, and recreational facilities, creating a truly ‘walk-to-work’ environment. Pioneering innovations and sustainable solutions implemented in GIFT City, such as the District Cooling System, Automated Waste Collection System, and Utility Tunnel, have set new standards in urban development.
For more information, visit www.giftgujarat.in.
Follow GIFT City on Twitter @GIFTCity_
Long Finance And Financial Centre Futures
The Z/Yen Long Finance initiative (www.longfinance.net) undertakes research programmes on Financial Centre Futures, Sustainable Futures, Distributed Futures, Eternal Coin, and Meta-Commerce.
Financial Centre Futures is a programme within the Long Finance Initiative that initiates discussion on the changing landscape of global finance. Financial Centre Futures comprises the Global Financial Centres Index, the Global Green Finance Index, and the Smart Centres Index with other research publications that explore major changes to the way we will live and work in the financial system of the future.
For more details on Long Finance, email Mike Wardle at mike_wardle@zyen.com.