GIFT city emerges as India’s global financial powerhouse

Gujarat International Finance Tec-City (GIFT City) is rapidly transforming into a leading global financial hub, positioning India alongside international centres such as Singapore, Dubai, and London. Strategically located between Ahmedabad and Gandhinagar, GIFT City is India’s first International Financial Services Centre (IFSC) and operational smart city, designed to integrate finance, technology, sustainability, and world-class infrastructure.

Spread over nearly 1,000 acres, with expansions underway to exceed 3,300 acres across Special Economic Zone (SEZ) and Domestic Tariff Area (DTA), GIFT City currently hosts over 1,034 registered entities in banking, insurance, fintech, capital markets, aircraft and ship leasing, asset management, and corporate treasury services. The IFSC alone houses 38 global and domestic banks, collectively managing an asset base of USD 100.14 billion, and has facilitated cumulative banking transactions of USD 142.98 billion.

Backed by strong government support and powered by the International Financial Services Centres Authority (IFSCA) a unified regulator for banking, insurance, capital markets and fintech GIFT City offers globally competitive regulations and simplified governance through a single-window clearance system. IFSC units enjoy a 10-year income tax exemption within a 15-year window, along with waivers on GST, stamp duty, and customs duties, further strengthening its appeal as an international finance destination.

GIFT City’s financial landscape has witnessed robust growth with two international stock exchanges reporting a monthly average turnover of USD 89.67 billion, while GIFT Nifty recorded USD 102.35 billion in trades in May 2025. The city has attracted 194 fund management entities and mobilised USD 26.30 billion in global commitments. It is also emerging as Asia’s fastest-growing aircraft and ship leasing hub, with 37 aircraft lessors managing 303 aircraft and 34 ship lessors leasing 28 vessels.

The India International Bullion Exchange (IIBX), launched in 2022, has positioned GIFT City as the first organised bullion marketplace in the country, promoting transparent and secure gold trading under globally accepted due diligence standards.

GIFT City also ranks 46th globally in the Global Financial Centres Index (March 2025), its best-ever position, and is rated 5th among 15 emerging financial centres, topping the reputation index. Its banks have disbursed nearly USD 20 billion in dollar-denominated loans to Indian corporates, surpassing traditional hubs like London and Singapore.

Beyond finance, GIFT City is increasingly attracting Global Capability Centres (GCCs) of multinational corporations and technology firms. Companies like Infineon, Technip Energies, IBM Consulting, Accenture, Capgemini, and Tata Electronics have established operations, with employee strength ranging from 500 to over 1,000. Enriched by strong academic partnerships with IIT Gandhinagar, IIM Ahmedabad, and international universities like Deakin and University of Wollongong, GIFT City is also evolving into a global education and talent hub.

The city’s cutting-edge smart infrastructure includes centralized district cooling, automated waste systems, underground utility tunnels, 99.999% power reliability, Tier-IV green data centres, high-speed optical fibre connectivity, and EV-based urban transport. With metro connectivity, proximity to airports and highways, and tech-enabled command-and-control systems, it presents a futuristic walk-to-work urban ecosystem.

GIFT City represents India’s strategic vision for financial self-reliance, foreign capital mobilization, and innovation leadership. As it accelerates toward its Viksit Bharat 2047 goals, it stands as a tangible symbol of India’s readiness to lead the next generation of global finance and technology.