GIFT City achieving key milestones, gaining global traction

In just five years since inception, the International Financial Services Centres Authority (IESCA) has crossed major milestones. It has surpassed 1,000 registrations and achieved over $100 billion in banking assets at Gujarat International Finance Tec-City (GIFT City).

- BS REPORTER

(From left) V Balasubramaniam, MD & CEO, NSE International Exchange; Revati Kasture, CEO, CareEdge Global IFSC; Tushar Sachade, partner, PWC; Dipesh Shah, ED, IFSCA

At a panel discussion titled, ‘Has the GIFT-IFSC truly arrived?’ moderated by Khushboo Tiwari of Business Standard, experts said the international financial hub has evolved beyond banking, insurance, and capital markets. There are now over 35 active business segments operating in the centre.

Dipesh Shah, executive director, IFSCA, said the time was ripe for GIFT City to be seen alongside global peers, such as Dubai International Financial Centre (DIFC) and Singapore.

“[ would definitely answer positively that GIFT City has arrived. It is now in everyone’s interest to make it comparable to Singapore and other global financial centres — rapidly and decisively,” Shah said.

The financial hub is also attracting foreign companies exploring direct listings on its international exchanges.