Gandhinagar : Gujarat International Finance Tec-City (GIFT City) has firmly established itself as India’s first fully operational international financial and IT hub, redefining the country’s standing in the global financial ecosystem. Conceived as a visionary project, GIFT City has evolved into a globally benchmarked, policy-driven financial center that is rapidly gaining prominence among leading international hubs.
Envisioned under the leadership of Narendra Modi during his tenure as the Chief Minister of Gujarat, the project was designed to create a world-class ecosystem integrating financial services, technology, regulatory efficiency, and cutting-edge infrastructure within a unified jurisdiction. Today, that vision stands realized, positioning GIFT City as a strategic gateway connecting India to global capital markets.
The momentum of this transformative initiative continues under the leadership of Bhupendra Patel, whose administration has ensured sustained growth, policy continuity, and accelerated expansion. Under his stewardship, GIFT City has scaled new milestones, reinforcing Gujarat’s leadership in driving India’s economic growth.
GIFT City now hosts a dynamic and rapidly expanding financial ecosystem, with over 1,150 IFSCA-registered entities operational. The banking sector has witnessed exponential growth, reaching $106 billion, marking a seven-fold increase since 2020. The capital markets ecosystem has grown to $80 billion, supported by consistent monthly exchange turnovers exceeding $100 billion. Additionally, 349 funds have been launched with a targeted corpus of $80 billion, strengthening India’s footprint in global finance.
Beyond financial services, GIFT City is emerging as a holistic urban ecosystem. Employment generation is projected to surpass 100,000 jobs by 2030, supported by large-scale infrastructure development across commercial, residential, and institutional segments. The city also offers robust social infrastructure, including international schools, destination retail hubs, central parks, and sports facilities—creating a comprehensive “Live, Work, Thrive” environment.
At an infrastructure level, GIFT City is setting new benchmarks in urban planning and sustainability. It is India’s first city to implement an integrated underground utility tunnel system, complemented by district cooling and automated waste collection systems, ensuring operational efficiency and environmental sustainability.
On the global stage, GIFT City has strengthened its position through proactive international engagement, including participation at the World Economic Forum and outreach initiatives across key financial markets such as Milan, Zurich, Hong Kong, Germany, and Austria. Domestically, strong collaborations have been fostered through banking forums, Vibrant Gujarat summits, IGF Mumbai engagements, and reinsurance conferences.
The ecosystem today spans a wide range of high-value sectors, including banking, insurance, capital markets, aircraft and ship leasing, global capability centers (GCCs), fintech innovation, and academic partnerships with leading global institutions. With over 37 banks, 65 insurance entities, and 35 aircraft leasing companies, GIFT City continues to diversify and deepen its global financial integration.
GIFT City stands as a testament to visionary leadership, strategic execution, and sustained policy support. From its conceptualization under Prime Minister Narendra Modi to its accelerated growth under Chief Minister Bhupendra Patel, the city represents India’s growing influence as a global financial powerhouse with long-term strategic significance.
