India’s push to become a global financial hub was highlighted during a review of Gujarat International Finance Tec-City (GIFT City). Finance Minister Nirmala Sitharaman praised the International Financial Services Centre (IFSC) at GIFT City for attracting international capital flows with top-notch frameworks and a supportive environment. GIFT City is seen as a crucial part of India’s financial landscape, showcasing the nation’s economic confidence and global ambitions.
Sitharaman emphasized India’s unique blend of scale, technology, and talent, offering significant growth prospects. The evolving ecosystem at GIFT City is bolstering India’s standing in global finance and investment. The Finance Minister stressed the importance of turning forward-looking policy talks into tangible actions for immediate impact and measurable progress.
The review meeting centered on enhancing the International Financial Services Centre ecosystem, boosting institutional capabilities, and expanding infrastructure to draw global financial players, investors, and skilled workforce. Principal Secretary to the Prime Minister, P.K. Mishra, highlighted the need to translate the Prime Minister’s vision for GIFT-IFSC into real achievements by attracting skilled professionals and building top-notch infrastructure.
GIFT City currently hosts over 1,150 entities spanning financial services, technology, and related sectors. The banking assets at GIFT City have surpassed USD 110 billion, with capital commitments in fund management activities exceeding USD 32 billion. The ecosystem comprises various entities, including banking units, fund management firms, insurance companies, aircraft lessors, and international exchanges, fostering a globally competitive financial hub.
