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GIFT City Hits $100B Turnover, Hosts 1,150+ Firms as Global Finance Hub

Gujarat Chief Minister Bhupendra Patel highlighted the rapid growth of GIFT City, which now hosts over 1,150 entities and has a banking ecosystem exceeding $100 billion. He stated that the project, originally envisioned by Prime Minister Narendra Modi, has evolved into a fully operational international financial hub. The centre offers tax incentives and simplified regulations, attracting global banks, fintech firms, and fund managers. This ecosystem is creating thousands of high-quality jobs and reflects growing international confidence in India's financial infrastructure.

Key Points: GIFT City: $100B Turnover, 1,150+ Entities Drive India's Finance Hub

  • Over 1,150 registered entities
  • Banking ecosystem exceeds $100 billion
  • Monthly exchange turnover crosses $100B mark
  • Creating thousands of high-quality jobs
2 min read

Over 1,150 entities, USD 100 billion turnover mark GIFT City's rise: Gujarat CM

Gujarat's GIFT City surpasses $100 billion in banking and monthly exchange turnover, with over 1,150 entities, becoming a global financial hub.

"GIFT City is not just a vision, but a vibrant reality driving economic growth. - Bhupendra Patel"

Gandhinagar, March 28

Positioning India as a competitive global financial hub, Gujarat's GIFT City has recorded rapid growth in financial activity and international participation, prompting Chief Minister Bhupendra Patel to describe it as a "vibrant reality driving economic growth".

The Chief Minister said the project, envisioned by Prime Minister Narendra Modi during his tenure in Gujarat, has moved beyond its initial concept to become a fully operational international financial hub.

"GIFT City stands today as a powerful testament to India's rising stature in the global financial ecosystem. What began as a bold and futuristic idea has now evolved into a fully operational international financial hub, placing Gujarat and India firmly on the world map of finance and innovation," Patel said.

He highlighted that the city now hosts more than 1,150 registered entities and a banking ecosystem exceeding USD 100 billion, with monthly exchange turnovers also crossing the USD 100 billion mark.

Patel said this scale reflects increasing global participation and trust in India's financial infrastructure.

GIFT City is home to India's first operational International Financial Services Centre, overseen by a unified regulator that streamlines governance across banking, insurance, capital markets and fund management.

The centre offers tax incentives and simplified regulations, which have attracted a diverse range of global and domestic players, including banks, insurance companies, fintech firms and fund management entities.

"Leading global institutions, fintech companies, and financial service providers are choosing GIFT as their base, reflecting growing international confidence in India's regulatory strength and infrastructure," Patel said.

He added that the ecosystem has allowed 'ease of doing business' while advancing innovation at scale.

"GIFT City is not just a vision, but a vibrant reality driving economic growth," he said.

Patel also underlined the employment potential generated by the project, noting that it is creating thousands of high-quality jobs, particularly for young professionals in finance, technology and allied sectors.

"From global banks and insurance giants to cutting-edge fintech firms and fund management entities, GIFT City has created a dynamic ecosystem that is attracting investments, enabling ease of doing business, and fostering innovation at scale," he said.

- IANS

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Reader Comments

S
Sarah B
As someone working in finance, the unified regulator at GIFT City is a game-changer. The regulatory clarity and tax benefits are exactly what we need to compete with Singapore or Dubai. Hope this success story inspires more such hubs across India.
P
Priya S
While the numbers are impressive, I hope the development is sustainable and inclusive. Are the 'thousands of high-quality jobs' accessible to graduates from all over India, or is there a regional bias? Also, what about affordable housing for professionals moving there?
R
Rohit P
Waah! What a transformation. From an idea to over 1150 entities. This shows what long-term vision and consistent policy can achieve. The next step should be to connect this hub more deeply with our MSME sector to fuel broader economic growth.
K
Karthik V
The focus on fintech is crucial. India is a leader in digital payments and innovation. Having a dedicated zone with simplified rules will help our startups scale globally without getting bogged down in red tape. More power to GIFT City!
M
Michael C
Attracting global institutions is a strong sign of confidence. The USD 100 billion banking ecosystem shows serious money is trusting the Indian framework. This could significantly reduce capital flight for Indian companies seeking international financial services.

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