Gujarat International Finance Tec-City (GIFT City) has rapidly emerged as India’s leading international financial and technology hub, drawing global banks, fintech firms, asset managers, and large corporates.
As the country’s first International Financial Services Centre (IFSC) and a fully operational smart city, GIFT City combines world-class infrastructure with progressive regulation, positioning itself as India’s answer to Singapore and Dubai.
What is GIFT City and why is it central to India’s global financial ambitions?
Located between Ahmedabad and Gandhinagar, GIFT City is India’s first operational smart city and International Financial Services Centre. Conceived to compete with global financial hubs, it offers a purpose-built ecosystem for international finance, technology, and innovation.
Spread across more than 1,000 acres, with planned expansion beyond 3,300 acres, it is divided into:
Domestic Tariff Area (DTA) – for domestic businesses
GIFT Multi-Services SEZ (GIFT IFSC) – for international financial services
Its foundational vision is to channel global capital through India and support the country’s push toward Viksit Bharat 2047 by generating high-skilled jobs and enabling India to become a global financial powerhouse.
Today, it hosts global banks, insurers, fintechs, asset managers, and the India International Bullion Exchange (IIBX). IFSC units are treated as non-residents under FEMA, giving them international operating flexibility while being based in India.
How is GIFT City governed and what makes its regulatory framework unique?
GIFT City operates under a unified global-standard regulator, the International Financial Services Centres Authority (IFSCA), set up under the IFSCA Act, 2019. It consolidates regulatory powers otherwise split among RBI, SEBI, IRDAI and PFRDA.
Key regulatory strengths include:
Unified oversight of banking, capital markets, insurance, fintech and fund management
Innovation-friendly frameworks for aircraft and ship leasing, fund management, GIFT Global In-House Centres (GIC/GCC), sustainable finance, bullion trading and more
Direct authorisation pathways and sandbox frameworks for fintech
OECD-compliant bullion standards through IIBX
Delegated SEZ powers enabling IFSCA to process approvals entirely online through the Single Window IT System (SWITS)
The result is light-touch regulation, global competitiveness, and ease of doing business tailored for international operations.
What makes GIFT City’s infrastructure and talent ecosystem world-class?
GIFT City is designed as a plug-and-play smart financial district with modern utilities and sustainable urban infrastructure.
Smart & Sustainable Infrastructure
District Cooling System reducing energy use by 30%
Automated Pneumatic Waste Collection
17-km integrated underground utility tunnel
Zero-discharge water management with 24×7 potable water
99.999% power reliability (just 5.3 minutes annual outage)
Tier-IV green data centre
Integrated mobility – metro, highways, airport access, EV buses, bullet train proximity
Talent and Global Education Hub
Located near top institutions—IIM Ahmedabad, IIT Gandhinagar, Ahmedabad University and others—GIFT City attracts engineers, finance professionals, AI specialists and management talent.
Under IFSCA’s AISP framework, foreign universities including Deakin, Wollongong, Queen’s Belfast and Coventry are setting up campuses, positioning GIFT as India’s gateway to global education in finance and tech.
How large is GIFT City’s business ecosystem today?
GIFT City is now home to:
1,034+ registered entities across banking, markets, insurance, fintech and leasing
194 Fund Management Entities
Two international exchanges with monthly turnover of $89.67 billion
37 aircraft lessors (303 aircraft) and 34 ship lessors
Over $20 billion in dollar loans disbursed by GIFT-based banks
Global players such as Standard Chartered, J.P. Morgan, HSBC, MUFG, ADIA, Infosys, Capgemini and Accenture
This footprint reflects GIFT City’s credibility as a global financial centre.
What incentives make GIFT City attractive to global and domestic firms?
GIFT City offers a globally competitive fiscal and regulatory framework.
Direct Tax Incentives
10-year tax holiday within a 15-year window (Sec 80-LA)
Lower withholding tax on interest income
Indirect Tax Benefits
GST exemption on all IFSC transactions
Customs duty exemption inside the SEZ
Other Incentives
No STT, CTT, or stamp duty
Relaxed Companies Act provisions
Self-certification and single-window clearances
100% employer PF reimbursement
Electricity duty concessions and employment incentives
These align GIFT City with global IFSC standards and offer firms a low-friction operating environment.
How is GIFT City performing as a global financial hub?
Recent figures highlight GIFT’s rapid rise:
Capital Markets
Two international exchanges averaging $89.67 bn monthly turnover
GIFT Nifty recorded $102.35 bn turnover in May 2025
Robust fund management ecosystem with 194 FMEs
Banking
38 banking units with assets of $100.14 billion
Cumulative transactions: $142.98 billion
$20 billion in dollar loans disbursed—surpassing some traditional offshore hubs
Insurance and Leasing
52 insurers/intermediaries with gross premiums over $425 million
303 aircraft and 28 ships leased through GIFT, positioning India strongly in global leasing markets
GIFT City climbed to 46th in the Global Financial Centres Index (2025) — its highest-ever ranking.
Which global and domestic companies are expanding into GIFT City?
GIFT is rapidly becoming the preferred location for GCCs and high-value financial operations.
Technology and Semiconductors
Infineon (Germany), Tata Electronics
Technip Energies (France), TELUS (Canada)
Centres with 500–750 employees focusing on chip design, AI and digital engineering
Consulting and IT Services
Accenture, Capgemini, IBM Consulting, Infosys, Wipro, Cognizant, Hexaware
Global Banks
Standard Chartered, HSBC, J.P. Morgan, Citi, Deutsche Bank, BNP Paribas, Barclays, MUFG, Mizuho, ANZ, DBS and QNB—all now operate from GIFT IFSC.
Asset Management
ADIA, Morgan Stanley, Lightrock, Lighthouse Canton, Bering, Onyx and several global private equity firms.
Indian Institutions
AM/NS India, REC, IREDA, India Exim Bank and others have established financial and trade-related operations.
Collectively, the presence of these companies signals that GIFT City is no longer a pilot project—it is becoming India’s flagship international finance and technology hub, capable of hosting high-value operations that were once offshored to Singapore, Dubai, Dublin, and Hong Kong.