GiftCity Latest News

Sundaram Asset Management Company (SAMC) has introduced the Sundaram India Mid Cap GIFT at GIFT City’s IFSC, offering global investors USD-denominated exposure to India’s mid-cap segment. Structured as an offshore feeder fund, it will invest primarily in the Sundaram Mid Cap Fund.

The scheme opens for subscription on February 16, 2026, with a minimum investment of USD 5,000 for both regular and direct plans. The portfolio focuses on sectors such as industrial products, banking, financial services, healthcare services, and auto components, aligned with India’s manufacturing, infrastructure, and consumption-driven growth themes.

Gujarat has appointed veteran banker Uday Kotak as Chairman of GIFT City, replacing Hasmukh Adhia. The move aligns with efforts to strengthen GIFT City’s position as a global financial hub competing with Singapore and Dubai.

The federal government recently extended the tax holiday for businesses operating in GIFT City from 10 years to 20 years to attract international companies. Kotak, founder and largest shareholder of Kotak Mahindra Bank, brings decades of experience across banking, asset management, insurance, and alternative investments.

GIFT City has emerged as India’s primary hub for External Commercial Borrowings (ECBs), with $18 billion out of $27.5 billion raised between April–December 2025 routed through its IFSC. Its share has risen sharply from 36% last fiscal year to over 65% now, supported by competitive borrowing costs, simplified compliance, and strong tax incentives — including a 20-year tax holiday announced in Union Budget 2026.

With 35 IFSC Banking Units and cumulative ECB bookings reaching $55.7 billion, GIFT City is positioning itself as a global financial gateway. While risks such as rising external debt and global interest rate volatility remain, policy support and regulatory reforms are expected to sustain its growth trajectory.

In a first-of-its-kind move, a state committee led by the chief secretary has decided to transfer the stalled World Trade Center (WTC) project at GIFT City to an association of allottees after the original promoter’s arrest in a fraud case. Towers A and D are complete, while work on Towers B and C remains pending.

The move follows GujRERA’s reference to the state government under Section 8 after registrations were cancelled. Around 90 buyers have sought possession, and authorities may revive the lease if allottees agree to fund and complete the project.

PMS Bazaar will bring the fourth edition of the Dubai Alternative Investment Summit (DAIS 2026) to Dubai, featuring leading PMS, AIF and GIFT City fund managers. The event comes as India’s alternatives space records a 31% CAGR over the past decade, with GIFT AIFs attracting $26.3 billion in commitments as of September 2025.

The summit will connect NRIs, global investors and asset managers to explore opportunities across equities, private equity, venture capital, SME investing and other alternative strategies.

February 10, 2026 - A high-level Sri Lankan delegation led by Mr. Tilvin Silva, General Secretary of the Janatha Vimukthi Peramuna (JVP), visited GIFT City under the Indian Council for Cultural Relations’ Distinguished Visitors Programme. The visit focused on understanding GIFT City’s vision, regulatory framework under IFSCA, and its development as a global financial and FinTech hub.

The engagement highlighted opportunities for financial innovation, cross-border collaboration, and reinforced India–Sri Lanka cooperation in financial services and economic development.

February 8, 2026 - In 2026, areas surrounding Gujarat International Finance Tec-City (GIFT City) have become the most influential real estate hotspot in Ahmedabad. As GIFT City strengthens its position as a global financial and commercial hub, nearby residential zones such as Zundal and Randesan are witnessing rapid housing development.

Demand in these areas is largely driven by professionals working in finance, IT, and allied sectors within GIFT City. Improved infrastructure, employment-led migration, and long-term growth prospects have made the GIFT City influence zone the top choice for both homebuyers and real estate investors in the region.

February 06, 2026 – The Gujarat chief minister Bhupendra Patel said the Union Budget 2026–27 promotes overall development and that extending the tax holiday in GIFT City from 10 to 20 years will encourage long-term investments and boost investor confidence.

He added that Gujarat will gain from central initiatives for pharma, MSMEs, and semiconductors, while the higher share in central devolution will help speed up infrastructure development across the state.

February 04, 2026 – The government’s move to extend the tax holiday for units in GIFT City to 20 years is expected to boost office space demand and commercial real estate activity at India’s only IFSC. The policy offers 100% tax deduction for 20 consecutive years within a 25-year block, providing long-term fiscal certainty.

The extended incentive is likely to encourage global financial institutions to commit to longer leases and larger office spaces, improving occupancy and rental stability. For developers and investors, it reduces risk and strengthens GIFT City’s position as a long-term hub for international financial services.

February 03, 2026 – Gandhinagar: Minister of state for science and technology Arjun Modhwadia said on Monday that Gujarat’s youth are not only generating ideas but also building full ecosystems, from incubators to semiconductor and satellite manufacturing.

He was speaking at a day-long workshop on ‘Strategic IP Management for Innovation: Patent Analytics and Freedom to Operate–FTO’ held at GIFT City. Modhwadia added that the complete ecosystem for designing, fabricating, testing and packaging semiconductors used in satellites is now available in-house at Isro in Ahmedabad.

February 01, 2026 – The Union Budget 2026 has doubled the tax holiday for entities in the IFSC at GIFT City to 20 years from the earlier 10 years. After this period, units will be taxed at a concessional rate of 15%, strengthening the centre’s global competitiveness.

Finance Minister Nirmala Sitharaman said the move aims to boost IFSC competitiveness and provide long-term tax certainty, alongside rationalising deemed dividend rules for treasury centres.

January 30, 2026 – GIFT City is drawing interest from major global reinsurers, including Lloyd’s of London, to establish operations in India. The move is aimed at tapping India’s $129.78 billion insurance market through the low-tax international financial hub.

About 14 global reinsurers currently operate from GIFT City, managing $700–800 million in annualised premiums, with the number expected to rise to at least 20 by March 2026. Tax incentives, regulatory flexibility and globally aligned solvency norms are key drivers of this growing interest.

January 29, 2026 – State-owned Punjab & Sind Bank has received approval from the Reserve Bank of India to set up a branch at the IFSC in GIFT City. This development marks the bank’s strategic entry into international banking and global financial services.

The GIFT City presence will enable the bank to strengthen foreign currency lending, trade finance, treasury operations, and services for corporate and institutional clients, while supporting India’s objective of becoming a global financial hub.

29 Jan 2026 – Abu Dhabi National Insurance Company (ADNIC) plans to establish a branch in the International Financial Services Centre at GIFT City, Gujarat, after securing approval from the UAE central bank. Indian regulatory clearance is expected ahead of a proposed opening in the latter half of 2026. The move aligns with ADNIC’s global expansion strategy and growing insurer interest from the GCC in India’s IFSC.

January 27, 2026 – Saudi Reinsurance Company has launched a branch in GIFT City, marking its second operational base in Asia after Malaysia. The move highlights GIFT City’s rapid emergence as a key hub for global re/insurers seeking access to India’s fast-growing insurance market and a more supportive regulatory framework.

Saudi Re, which has operated in India for over a decade, views the expansion as a strategic step to strengthen its Asian presence, support global business growth, and improve operational efficiency.

January 26, 2026 – GIFT City has emerged as India’s first International Financial Services Centre, drawing global banks, fund managers, and foreign-currency capital through a specialised regulatory and tax framework. However, despite rapid growth in offshore finance and cross-border fund activity, its overall market scale, liquidity, talent depth, and urban ecosystem remain significantly smaller than Mumbai.

As a result, GIFT City currently serves as a complementary international finance hub rather than a substitute for Mumbai, with any future role expansion likely confined to select international financial functions over the longer term.

January 24, 2026 – GIFT City attracted strong interest from global financial institutions and technology companies at the World Economic Forum in Davos, reflecting growing confidence in its regulatory framework and IFSC ecosystem.

Discussions with major global firms focused on capital markets, cross-border fund flows, and India’s role as a base for advanced financial and technology operations, highlighting GIFT City’s positioning as a scalable, globally aligned platform for long-term international business expansion.

January 22, 2026 – Indus Towers has announced plans to incorporate a wholly owned subsidiary at GIFT City, Gujarat. The proposed entity will function as an investment holding company for the group’s overseas operations and will also manage treasury-related activities.

The move is aimed at leveraging the International Financial Services Centre (IFSC) framework, which offers tax efficiencies and operational flexibility. The incorporation will be completed after receiving the necessary regulatory approvals, according to the company.

January 21, 2026 – Gujarat Chief Minister Bhupendra Patel met Australian High Commissioner Philip Green OAM to discuss collaboration in sports infrastructure, education, and renewable energy. Australia shared its experience from preparations for the 2032 Brisbane Olympics and proposed partnerships in advanced sports training.

Plans were also outlined to establish a Centre of Excellence at Deakin University in GIFT City, focusing on sports science, research, and sports business. Renewable energy collaboration and skill training initiatives, including solar rooftop training at Pandit Deendayal Energy University, were also highlighted.

January 21, 2026 – A UK-based unit of JPMorgan Chase & Co. has received regulatory approval to open a branch in Gujarat International Finance Tec-City (GIFT City). The new branch will enable trading in equities, derivatives, and other financial instruments for clients outside India. The licence was granted by the International Financial Services Centres Authority (IFSCA).

This move adds to the growing presence of global banks in GIFT City, which has crossed $100 billion in banking assets and continues to attract international financial institutions with tax incentives and a dedicated regulatory framework.

January 20, 2026 – At the World Economic Forum in Davos, Sanjay Kaul, Group CEO and Managing Director of GIFT City, said the financial hub is emerging as a global centre for international finance and a key platform for showcasing India’s economic strength.

He noted that GIFT City has risen to 43rd place among global financial centres within four years, employs about 27,000 people with a target of 100,000 by 2030, and has attracted major global institutions with bank assets reaching around USD 110 billion.

January 19, 2026 – The Gujarat government has invited leading national and international restaurant brands to establish outlets at GIFT City, aiming to strengthen the ease of living and business environment at the international fintech hub.

Deputy chief minister Harsh Sanghavi held a meeting with representatives of over 100 restaurant brands from India and abroad, highlighting incentives and state support available for setting up operations at GIFT City and other locations across Gujarat.

According to government sources, the presence of major restaurant brands will complement upcoming global sporting events, including the 2030 Commonwealth Games, and enhance Gujarat’s overall ecosystem.

January 14, 2026 – German development finance institution DEG has made its first investment in an Indian debt fund, committing $25 million to the Vivriti India Retail Assets Fund, an asset-backed securitisation vehicle managed by Vivriti Asset Management and based in GIFT City, sources told Reuters. DEG is part of the KfW Group and confirmed the investment.

Following DEG’s commitment, the fund’s corpus will rise to around $190 million, moving closer to its $250 million target. Other investors include M&G Catalyst, the International Finance Corporation and British International Investment, and the fund had invested $285 million across 72 ABS and bond deals as of December 2025.

January 12, 2026 – A seminar at the Vibrant Gujarat Conference showcased GIFT City as India’s international financial gateway and emerging global financial hub.

The session, attended by senior officials and US delegates, highlighted the 886-acre project developed between Ahmedabad and Gandhinagar under the guidance of Prime Minister Narendra Modi. GIFT City includes a Domestic Tariff Area and a Multi-Services SEZ focused on international financial services.

January 08, 2026 – Gujarat is sharpening its push on artificial intelligence, IT and the digital economy to strengthen GIFT City as a global financial and technology hub. The state has rolled out a broad plan to attract global firms, startups and skilled professionals to the international financial services centre.

The strategy focuses on AI-led businesses, fintech and advanced IT services, while aligning regulations with global standards to improve ease of doing business. To enhance liveability, the government has also permitted regulated access to alcoholic beverages for employees and residents within designated areas of GIFT City.

Officials expect the combined focus on technology, finance and lifestyle infrastructure to accelerate growth and investment in the district.

January 08, 2026 – Mumbai-based Sri Lotus Developers & Realty Limited has entered into a joint development agreement with actor Abhishek Bachchan to develop an ultra-luxury mixed-use project of over one million sq ft in GIFT City, Gandhinagar.

The project, Sri Lotus Developers’ first in Gujarat, will be executed through its subsidiary under a profit-sharing model, with completion targeted within four years of launch. The development will include premium retail, Grade-A offices, and high-end residences, catering to demand from financial, fintech, and IT/ITeS companies.

January 7, 2026 – Alpaca has announced its intention to acquire Zincmoney IFSC Private Limited, an IFSCA-regulated broker-dealer based in GIFT City, marking its planned entry into India’s broker-dealer market.

The acquisition will provide Alpaca with India-focused brokerage licenses and infrastructure, enabling it to operate as a regulated broker-dealer in one of the world’s fastest-growing markets. Zincmoney’s capabilities in global investing, IFSC products, and payment services will complement Alpaca’s multi-asset brokerage infrastructure.

“The acquisition of Zincmoney is critical to building truly global brokerage infrastructure,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca.

Gujarat Chief Minister Bhupendra Patel has given in-principle approval for setting up the Indian AI Research Organisation (IAIRO) at GIFT City to boost artificial intelligence research.

The project will be developed under a public-private partnership involving the State government, the Centre and the Indian Pharmaceutical Alliance. IAIRO will function as a non-profit SPV from January 1, with an estimated ₹300 crore budget for the first five years, funded equally by all three partners.

The initiative aligns with the India AI Mission and will focus on advanced research, AI-driven solutions, collaboration and capacity building.

GIFT City has rolled out a centralised admissions query mechanism to simplify access to information for students as more overseas universities begin operations in the district. The single-window system is designed to serve as a credible first point of contact, offering clarity on courses, fees and timelines, as interest grows among domestic and international applicants.

Officials said the initiative will address complexities arising from dual regulatory frameworks governing institutions in GIFT City and reduce duplication of effort by individual universities. The system will provide consistent, up-to-date information on programmes, regulations, degree recognition and shared campus facilities, strengthening GIFT City’s positioning as an emerging global education destination.

The Gujarat government plans to develop a dedicated IT, ITES and AI-focused city next to GIFT City in Gandhinagar to strengthen the state’s digital economy. The specialised cluster will leverage GIFT City’s existing infrastructure to attract global technology firms.

Officials said the project will offer customised incentives, policy support and upgraded digital infrastructure, helping position Gujarat as a national and global hub for advanced digital technologies.

Investors can now access dollar-denominated mutual funds through GIFT City, providing a structured way to invest in global assets. These investments are treated as overseas investments, with taxation varying based on residential status and whether income is earned as dividends or capital gains.

While resident Indians are taxed as per applicable income tax rules, NRIs may benefit from specific IFSC-linked tax concessions, subject to conditions. Investors are advised to factor in tax and reporting requirements before investing.

The Gujarat government has eased liquor consumption rules within GIFT City to strengthen its positioning as a global financial hub. The revised framework removes the need for temporary liquor permits for visitors and grants licensed hotels and restaurants greater operational flexibility, aligning the enclave’s business environment with international norms.

Industry stakeholders said the move is expected to support investments, hospitality growth, tourism and MICE activity, while improving ease of doing business. The policy reflects Gujarat’s dual approach of maintaining statewide prohibition while enabling targeted liberalisation in strategic zones such as GIFT City.

GIFT City and its International Financial Services Centre (IFSC) are playing a growing role in enabling Indian investors to access global markets, as overseas investing becomes a core part of portfolio strategies. Both retail investors and high-net-worth individuals are steadily increasing international allocations, supported by easier access, digital platforms and expanding product offerings.

By reducing regulatory friction and offering a regulated domestic gateway to global assets, GIFT City IFSC is reshaping how Indians invest overseas and positioning India as an emerging global capital hub.