Initiated under the visionary leadership of Gujarat’s Chief Minister and Prime Minister Narendra Modi, GIFT City has transformed into a thriving, policy-driven financial center of global significance.

From its inception, GIFT City was envisioned as a world-class financial and IT zone, serving not just India but the entire globe. Under Prime Minister Modi’s guidance, an integrated ecosystem was created, combining financial services, technology, regulatory simplification, and infrastructure within a single jurisdiction. This dream has now materialized into a vibrant hub that competes directly with established global financial centers.

Under Chief Minister Bhupendra Patel’s leadership, GIFT City is expanding its horizons, ensuring its continuity, growth, and rapid development. His leadership has propelled GIFT City to new heights, further solidifying Gujarat’s reputation as a key driver of India’s economic growth.

Currently, over 1,150 entities registered with the International Financial Services Centres Authority (IFSCA) are operating in GIFT City. The banking sector has seen significant growth, reaching $106 billion, nearly seven times more than in 2020. Additionally, the capital market has surged to $80 billion, with exchange turnover consistently exceeding $100 billion monthly. With a target of $80 billion, 349 funds have been launched, enhancing India’s position in the global capital market.

The development of GIFT City extends beyond financial activities. It is estimated that by 2030, over 100,000 jobs will be created, driven by substantial infrastructure expansion for commercial, residential, and institutional construction. A robust social infrastructure has also been established, featuring international schools, destination malls, a central park, and a sports arena. This social infrastructure is designed to embody the mantra of ‘Live, Work, Thrive’ for both residents and professionals.

GIFT City boasts state-of-the-art infrastructure facilities. For the first time in India, an underground utility tunnel has been installed. Additionally, a district cooling system and automated waste collection ensure efficient and sustainable operations.

Globally, GIFT City serves as India’s international financial gateway, connecting to major financial hubs like Davos, Milan, Zurich, Hong Kong, Germany, and Austria. Domestically, it brings together local and global financial networks through initiatives like the Banking Forum (with over 100 institutions), Vibrant Gujarat, IGF Mumbai, and the Re-Insurance Summit.

GIFT City offers a wide range of financial services under one roof, including capital markets, banking, insurance, aircraft and ship leasing services, fintech, GCC, and partnerships with global universities. With over 37 banks, more than 65 insurance companies, and over 35 aircraft leasing firms, it is emerging as a reliable center for high-value financial services, contributing to strengthening India’s position in the global financial ecosystem.

Initiated under PM Narendra Modi’s visionary leadership and continuously developed under the guidance of Gujarat’s current Chief Minister Bhupendra Patel, GIFT City reflects a strategic and long-term vision to establish India as a global financial center.

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