GiftCity Latest News

NSE IFSC Ltd and the London Stock Exchange have signed a Memorandum of Understanding (MoU) to explore cross-border listings, trading opportunities and new financial products, strengthening GIFT City's international capital market connectivity.

The collaboration will examine dual listings, equities, bonds, exchange-traded funds (ETFs) and derivatives linked to FTSE Russell indices. Both exchanges will also explore new equity indices, cross-border trading infrastructure and market-data distribution.

NSE IFSC CEO V Balasubramaniam and London Stock Exchange CEO Dame Julia Hoggett highlighted opportunities to strengthen financial ties between India and the UK. The agreement follows the India-UK Comprehensive Economic and Trade Agreement, with specific products and launch timelines yet to be announced.

GIFT City is gaining popularity among Non-Resident Indians (NRIs) and global family offices seeking foreign-currency investment opportunities, tax advantages and easier capital repatriation compared with mainland India.

Under FEMA regulations, eligible NRO account balances face a $1 million annual repatriation limit, while qualifying foreign-currency investments through GIFT IFSC can be repatriated without this restriction. The financial centre also offers tax incentives and access to Alternative Investment Funds (AIFs), subject to applicable regulations.

IFSCA's framework permits 100% NRI ownership in eligible IFSC fund structures, allowing overseas Indian investors to access Indian startups, global equities and debt markets. GIFT City is also attracting interest from family offices exploring international treasury and wealth-management operations.

BlackRock Chief Operating Officer Robert Goldstein met Gujarat Chief Minister Bhupendra Patel in Gandhinagar to discuss the global investment firm's expansion plans at GIFT City.

During the meeting, Patel highlighted GIFT City's growing international financial ecosystem and invited BlackRock to expand its operations. Goldstein outlined BlackRock's global presence, with over $15.3 trillion in assets under management across more than 40 countries.

The discussions also covered BlackRock's existing joint venture with Jio Financial Services, which operates from GIFT City under IFSCA licences. Patel extended an invitation to BlackRock to participate in Vibrant Summit 2027.

The International Financial Services Centres Authority (IFSCA) is proposing regulatory reforms to develop GIFT City into an international commodity trading hub, attracting foreign investors and strengthening global market participation.

IFSCA has sought government approval to classify commodity derivatives as financial products, bringing exchange-traded and over-the-counter contracts under a unified regulatory framework.

GIFT IFSC has already facilitated imports of 110 tonnes of gold and 1,200 tonnes of silver through its international trade exchange framework. The proposed changes aim to expand commodity trading, improve liquidity and support price discovery within India.

Swarrnim School of Management, Commerce and Liberal Arts organised an academic session titled “GIFT City and Opportunities in GIFT City” to introduce students to career prospects in Gujarat’s growing financial services hub.

Gaurav Kanudawala, co-founder of Global Nivesh Solutions Pvt Ltd, shared industry insights into opportunities across banking, finance, investments, capital markets, fintech and insurance.

The session emphasised professional skills, industry exposure and adaptability, aiming to strengthen industry-academia collaboration and prepare students for careers in GIFT City’s financial ecosystem.

JPMorgan believes GIFT City has the potential to develop into a regional treasury hub, strengthening India's position in international banking and financial services.

In an interview with Moneycontrol, Max Neukirchen, Global Co-Head of Payments at JPMorgan, highlighted India as an important market for growth and financial innovation.

The bank is expanding its presence through Global Capability Centres (GCCs) and GIFT City. Neukirchen also recognised India's UPI system as a transformative payments innovation that has raised the country's profile in global payments.

GIFT City is emerging as a financial platform for NRIs and OCIs, providing access to foreign-currency banking, investments, insurance and other international financial services through its regulated IFSC ecosystem.

Eligible NRIs can access foreign-currency accounts and deposits, along with securities, ETFs, mutual funds, debt instruments and Alternative Investment Funds through regulated entities. Certain IFSC frameworks also allow NRI and OCI participation in eligible fund structures, subject to applicable conditions.

Banks operating at GIFT City are also expanding NRI-focused services. IDFC FIRST Bank, for instance, offers USD and EUR savings accounts and fixed deposits with tenures ranging from 7 days to 5 years, alongside cross-border banking services.

GIFT City in Gandhinagar witnessed a striking ‘Mashaal Raas’ performance during a recent pre-Navratri celebration, adding a distinctive touch to the festive atmosphere.

Participants performed the traditional dance while holding burning torches and moving to the beats of a popular Gujarati song. The performance took place as celebrations gathered momentum ahead of Navratri.

A video capturing the fiery performance at GIFT City has since attracted considerable attention.

GIFT City continues to expand as India’s international financial hub, hosting more than 1,150 entities across financial services, technology and allied sectors. Banking assets crossed $110 billion by May 2026, while fund management commitments exceeded $32 billion.

The city, originally spread across about 1,000 acres, is being expanded to more than 3,300 acres. Its infrastructure includes a District Cooling System, Automated Waste Collection System and Underground Utility Tunnel, while IFSC units now benefit from an extended 20-year tax deduction within a 25-year period.

However, challenges remain around talent retention, housing, connectivity and social amenities. A 2025 PwC India study found 63% of respondents willing to relocate or expand to GIFT City, while 62% of executives cited difficulties attracting experienced professionals, 54% highlighted the limited maturity of the ecosystem and 46% pointed to the lack of an established talent pool.

Kazakhstan’s Astana International Financial Centre (AIFC) is exploring a potential partnership with India’s GIFT City, seeking to strengthen financial and investment links between the two international financial hubs.

“GIFT city is emerging as a key financial centre. AIFC is Eurasia's best performing financial centre and a collaboration between the two entities is being explored,” AIFC Governor Renat Bekturov told ET.

Launched in 2018, AIFC has attracted $27 billion in investments and hosts more than 6,500 companies from 90 countries. Its ecosystem spans banking, asset management, sustainable finance, digital assets, aviation finance and capital markets.

A potential GIFT City-AIFC collaboration could create new avenues for cross-border financial services and investment between India, Kazakhstan and Central Asia.

India and France are looking to deepen cooperation in higher education, research and innovation, with French institutions invited to consider establishing branch campuses in India, particularly at GIFT City, Gujarat.

Union Education Minister Pralhad Joshi and French Minister for Higher Education, Research and Space Philippe Baptiste discussed stronger institutional partnerships, student and faculty mobility, joint academic programmes and collaborative research.

The discussions also covered life sciences, social sciences, humanities, language education and digital learning, along with revising the Mutual Recognition of Qualifications Agreement between the two countries.

The proposed expansion of French educational institutions could further strengthen GIFT City’s emerging role as a hub for international education alongside finance and technology.

GIFT City is increasingly attracting NRIs and high-net-worth individuals from global markets, strengthening its position as an international financial hub for overseas Indians.
The financial centre is expanding its retail wealth and banking ecosystem, supported by foreign-currency services and products linked to FCNR(B) deposits. Its framework enables international banking activity from India while catering to the investment and wealth-management requirements of NRIs.
The growing participation of overseas Indians is further widening GIFT City’s role beyond institutional finance, as the IFSC develops into a platform for cross-border banking, investments and wealth services.

JPMorgan Chase plans to double its GIFT City business over the next couple of years, expanding its presence across trade finance, foreign exchange, liquidity and payment solutions.

The bank’s GIFT City business currently has a book of close to $1 billion, according to people familiar with the matter, and serves a few hundred clients. JPMorgan has also said that more than 100 multinational companies approached it to explore banking and payment solutions for treasury operations.

JPMorgan opened its GIFT City branch in 2022 and currently offers loans, working-capital financing, risk management, investment services and products across fixed income, commodities and capital markets.

GIFT City now has 15 retail funds available for mutual fund distributors (MFDs) and wealth managers, offering exposure across Indian and international markets.

Minimum investments range from $500 to $25,000. Parag Parikh’s NASDAQ 100 and S&P 500 Fund of Funds, along with Tata India Dynamic Equity Fund, start at $500, while Edelweiss India Opportunities Fund requires $25,000.

The growing product range covers developed and emerging markets, China, US technology, Indian equities and themes such as artificial intelligence and big data, with exit-load structures varying across schemes.

GIFT City has emerged as the only Indian financial centre among the Asia-Pacific top 15 in the Global Financial Centres Index (GFCI 40), strengthening its position in the international financial ecosystem.

The Gandhinagar-based financial hub climbed nine places to 37th globally, from 46th in the previous index. Mumbai improved three positions to 49th, while Delhi ranked 56th.

GIFT City also advanced in the global FinTech ranking to 26th from 29th, supported by its expanding financial services ecosystem, regulatory framework and digital infrastructure.

HSBC and ICICI Bank emerged as the largest lenders under the RBI’s special FCNR(B) swap facility at GIFT City, together disbursing $19.3 billion between June and August.

HSBC accounted for $10.9 billion, while ICICI Bank disbursed $8.4 billion. Overall, 20 lenders operating at GIFT City collectively disbursed $52.8 billion through the programme.

GIFT City’s banking assets are expected to cross $150 billion by the end of September, while the number of depositors increased nearly 50% to around 32,000 by August-end, highlighting the expansion of its NRI banking ecosystem.

GIFT City has climbed nine positions to rank 37th globally in the Global Financial Centres Index (GFCI 40), up from 46th, strengthening its position among international financial hubs.

The report also placed GIFT City among the top 15 financial centres in Asia-Pacific and identified it as one of 15 global centres expected to grow significantly in importance over the next two to three years. Its fintech ranking also improved to 26th globally.

The GFCI 40 assessed 139 financial centres using 144 quantitative measures and 39,531 professional assessments, highlighting GIFT City’s growing integration with global financial markets.

GIFT City’s fund investor base increased 68% to 16,150 during the April-June 2026 quarter, compared with 9,594 at the end of March, according to IFSCA data.

Retail schemes led the expansion, adding 5,029 investors during the quarter. Their investor count jumped 146% to 8,467, from 3,438, taking retail participation to more than half of GIFT City’s overall fund investor base.

Fund management activity also expanded, with registered Fund Management Entities rising to 235 and live schemes reaching 401. Cumulative fund commitments increased to $45.08 billion, while actual funds raised reached $22.93 billion by June-end.

Sun Pharmaceutical Industries has incorporated a new wholly owned indirect subsidiary, Sun Pharma Global Treasury Centre IFSC Ltd, at GIFT City’s International Financial Services Centre (IFSC) in Gandhinagar.

The entity was incorporated on September 8, 2026, as a wholly owned subsidiary of Sun Pharma Laboratories Ltd, including nominee shareholders. The company has made an initial cash investment of approximately ₹9.50 crore in its equity share capital.

Sun Pharma said the new subsidiary will undertake its proposed activities after securing the required registration and approval from IFSCA.

GIFT City has significantly streamlined its digital onboarding process for overseas investors, reducing a procedure that earlier took 20–30 days to around 60 minutes, according to IFSCA Executive Director Dipesh Shah.

Around 16,000 overseas investors are already participating in alternative investment funds (AIFs) at GIFT City, with investors from 90 countries onboarded so far.

The new digital process enables online applications, e-notarisation, e-apostille and cloud-based digital signatures, removing several documentation hurdles previously faced by NRIs and foreign investors.

Trilegal has expanded its presence in India with a new office at GIFT City, Gandhinagar, strengthening its ability to support clients operating within the International Financial Services Centre (IFSC).

The office will assist businesses with asset management, financial services and regulatory matters, while providing local access to Trilegal’s wider network and expertise.

The firm said an on-ground presence will help it engage more closely with clients on structuring and regulatory considerations relevant to GIFT City.

GIFT City’s maritime finance ecosystem is set to benefit from India’s Merchant Shipping (Registration of Vessels) Rules, 2026 and an exemption allowing eligible IFSC units to charter foreign vessels for EXIM and international trade without licensing under Section 11 of the Coastal Shipping Act, 2025.

The new framework provides a clearer route for bareboat charter-cum-demise (BBCD) registration of foreign vessels and is expected to support ship leasing, financing, chartering and related maritime services from GIFT IFSC.

IFSCA data shows that 43 ship assets had been leased as of March 2026, highlighting the growing maritime asset-leasing ecosystem at GIFT City.

Retail participation in GIFT City funds has expanded sharply, with the number of investors rising 146% to 8,467 by June 2026, from 3,438 at the end of March, according to IFSCA data.

Retail schemes now represent 52.4% of GIFT IFSC’s 16,150 fund investors. The 14 retail schemes had collectively raised $99.59 million, including $54.13 million during the April-June quarter alone.

Of the $87.32 million invested by retail schemes, 78.5% was deployed in foreign markets, highlighting GIFT City’s growing role in providing access to global investment opportunities.

Retail investment schemes at GIFT City recorded strong growth, with the investor base rising 146.3% to 8,467 by June 2026, compared with 3,438 at the end of March, according to IFSCA data.

GIFT City had 14 authorised retail schemes as of June 30, which cumulatively mobilised ₹946 crore ($99.59 million). Of this, ₹514 crore, or 54%, was raised during the June quarter alone.

Of the ₹829 crore invested by these schemes, 78.5% was deployed overseas, highlighting growing demand for global investment products through India’s IFSC.

GIFT City’s IFSC Banking Units (IBUs) have mobilised $52.82 billion under the RBI’s FCNR(B) swap facility, accounting for a significant share of India’s total $127 billion inflows under the scheme as of August 31, 2026.

By the end of August, 20 participating IBUs had sanctioned $54.02 billion, of which $52.82 billion was disbursed. GIFT IFSC also recorded $11.62 billion in External Commercial Borrowing (ECB) disbursements between April and August 2026.

Indian banks additionally raised $11.12 billion through international bond listings on IFSC exchanges, further strengthening GIFT City’s role as a bridge between global capital and India’s financing requirements.

Around 25 premium food, beverage and recreational brands are in the final stages of planning their entry into GIFT City following Gujarat’s reduction of taxes on foreign liquor served within the special zone.

In June, the state government reduced VAT on foreign liquor from 65% to 25% and removed a special fee of around ₹240 per 30ml serving, improving viability for premium restaurants and hospitality operators.

GIFT City currently has two wine-and-dine facilities, while at least 20 new buildings are expected by 2030, each planned to include such a facility. The expansion is expected to strengthen the city’s social infrastructure as more financial institutions, GCCs and international professionals move into the hub.

Fund management registrations at GIFT IFSC have increased nearly five-fold in four years, rising from 45 in March 2022 to 217 by March 2026, according to Union Finance Ministry data.

Overall registrations and authorisations by IFSCA grew from 110 in March 2021 to 1,193 in March 2026. Banking units increased from 15 to 37, while insurance entities rose from 18 to 70 during the period.

As of March 31, 2026, GIFT IFSC had 652 entities, comprising 487 domestic and 165 foreign entities, reflecting the continued expansion of its financial services ecosystem.

Prime Minister Narendra Modi has invited an Uzbek delegation to visit GIFT City in Gujarat to study its technology-driven infrastructure and urban development practices, as India and Uzbekistan upgraded relations to a Comprehensive Strategic Partnership.

The invitation came during Modi’s talks with President Shavkat Mirziyoyev in Tashkent, where he highlighted GIFT City alongside Uzbekistan’s New Tashkent mega-project.

The two countries also agreed on a long-term uranium supply arrangement and set a target of increasing bilateral trade to $5 billion by 2030.

IFSCA has proposed simplifying the secondary listing of global exchange-traded funds (ETFs) at GIFT City, allowing established ETFs from markets such as New York, London, Dublin and Luxembourg to list through India INX or NSE IFSC.

Under existing regulations, ETFs already listed in India or overseas can secondary-list at GIFT City if they continue complying with their home-market rules. The proposal aims to streamline this route, potentially giving Indian and NRI investors wider access to global investment products in foreign currency.

The framework could also provide international asset managers with a simpler route into GIFT City without requiring them to establish a new IFSC-domiciled ETF.

GIFT City is emerging as an option for Indian family offices seeking global investment access while retaining an India-based presence, according to the EY-Julius Baer Indian Family Office Playbook 2026.

Eligible IFSC units can claim a 100% deduction on qualifying income for 20 consecutive years out of 25 years and transact in 15 foreign currencies. Resident individuals can also remit up to $250,000 annually under the Liberalised Remittance Scheme.

The report describes GIFT City’s proposition as “onshore presence with offshore functionality,” offering tax advantages and international market access as it develops its family office ecosystem alongside established hubs such as Singapore and Dubai.

India is seeking greater Japanese institutional investment, with GIFT City being positioned as a gateway for cross-border capital flows between India and Japan.

During discussions in Tokyo, Commerce and Industry Minister Piyush Goyal highlighted opportunities in semiconductors, AI, clean energy, advanced manufacturing and digital infrastructure. Japanese financial institutions also called for easier capital movement, profit repatriation and greater regulatory predictability.

GIFT City is expected to help facilitate international investment flows as India and Japan work towards mobilising 10 trillion yen (around ₹60,000 crore) in Japanese private investment into India over the next decade.

GIFT City is strengthening its position as a gateway for India-related cross-border financial activity, attracting major domestic and international banks through its regulatory and tax framework.

The financial hub is now home to 41 banks with combined assets of $110 billion, including SBI, HDFC Bank, ICICI Bank, JPMorgan, HSBC, Citigroup and Standard Chartered.

IFSCA is targeting 55 banks, 50 corporate treasury centres and 1 million overseas Indian customers as the ecosystem expands. International banks are also widening their presence, with Standard Chartered planning wealth management and retail services, while JPMorgan has received enquiries from more than 100 companies for banking and payment solutions.

GIFT City is witnessing rapid growth as India’s international financial centre, with activities expanding beyond corporate banking into wealth management, private banking, aircraft leasing, vessel financing and treasury operations, according to HSBC’s Sandeep Batra.

“It started as a place for corporates; now wealth managers, individuals, private banking, a lot is happening at GIFT,” Batra said.

He noted that 1,200-plus players are operating at GIFT City, while NRIs and resident Indians can access multi-currency accounts and global investment products through the financial hub.

“Clearly, this is India's international financial centre at this point in time. I think the affinity is a lot more Indian. I think it is a matter of time; this will go beyond,” Batra said.

Gujarat Chief Minister Bhupendra Patel, during his US visit, highlighted the state’s plans to become a global hub for artificial intelligence, financial services, advanced technology and international capital.

At a World Bank round-table in Washington, Patel presented GIFT City as an international financial gateway and sought concessional financing for development-focused projects in Gujarat.

He also highlighted plans to accelerate AI adoption across administration, education, healthcare and agriculture, while combining GIFT City’s expanding financial ecosystem with technology and innovation.

“Under the leadership of Prime Minister Narendra Modi, Gujarat has maintained a strong tradition of balancing financial discipline with development”, says Patel.

The Gujarat Real Estate Regulatory Authority (GujRERA) has initiated proceedings under Section 8 of the RERA Act to complete the stalled WTC GIFT Tower C project in GIFT City Phase I, marking a first-of-its-kind intervention by the regulator.

Developed by WTC Noida Development Company Pvt Ltd, the project is only 28% complete despite 311 of 312 units being booked and missed its revised June 30, 2025 completion deadline.

Following financial probes, the promoter’s arrest and cancellation of the land lease by GIFT Authority, GujRERA has frozen the project’s bank account, stopped fresh bookings and revoked promoter access to its portal. Allottees and stakeholders have been invited to submit claims or objections regarding the remaining development work.

India Factoring has launched its wholly owned subsidiary, India Factoring (IFSC) Private Limited, at GIFT City, Gujarat. The new entity is regulated by the International Financial Services Centres Authority (IFSCA).

The subsidiary will provide factoring and trade finance solutions to exporters and businesses, helping them improve liquidity, manage trade risks and optimise working capital.

Ravi Valecha, Director at India Factoring IFSC, called the launch “a strategic milestone” and said GIFT City provides a platform to extend the company’s trade finance services to a wider international market.

The development follows recent IFSCA reforms providing eligible GIFT City finance companies capital relief on credit-insured factoring exposures.

UCO Bank has launched its International Financial Services Centre (IFSC) Banking Unit at GIFT City, Gandhinagar, expanding its international banking operations and cross-border financial services.

The unit will provide trade finance, external commercial borrowings (ECBs), foreign currency loans, loan syndication and treasury services to corporates, exporters, importers, financial institutions and other eligible customers.

UCO Bank is also offering 6.50% interest on FCNR(B) deposits through the IBU. The launch follows RBI approval granted in September 2025 and strengthens the bank’s international presence alongside its operations in Singapore and Hong Kong.

The Ahmedabad-GIFT City corridor could attract 40–50 new Global Capability Centres (GCCs), creating demand for 4–6 million sq. ft. of Grade A office space and more than 50,000 high-skilled jobs, according to a joint report by Dev Accelerator Limited (DevX) and Anarock.

Ahmedabad currently has nearly 26 million sq. ft. of Grade A office stock, while GIFT City contributes another 4.1 million sq. ft. The region also has a technology talent pool of around 90,000–95,000 professionals, supported by lower occupancy costs and employee attrition of 7–12%.

Infrastructure projects and the Gujarat GCC Policy 2025–30, which targets more than 250 GCCs and investments exceeding ₹10,000 crore, are expected to further support growth across the corridor.

GIFT City is making global investing more cost-efficient by reducing currency conversion spreads and remittance charges, which can add significantly to the cost of buying US stocks.

India INX Global Access (India INXGA) said it has negotiated lower remittance fees and does not earn from currency conversion spreads. The platform has partnered with over 150 brokers, with around 50,000 new KYC onboardings per month.

India INXGA is also planning ETFs and UCITS-based funds, with the latter aimed at avoiding US estate tax that can reach 40% on directly held US assets above roughly $60,000.

The expansion is supported by regulatory frameworks introduced by SEBI and IFSCA, strengthening GIFT City’s role as a gateway for Indian investors seeking global market exposure.

Ahmedabad and GIFT City are emerging as key destinations for Global Capability Centres (GCCs), supported by lower costs, talent availability, infrastructure and GIFT City’s financial ecosystem.

According to a DevX-Anarock report, the corridor could attract 40-50 new GCCs, creating demand for 4-6 million sq ft of Grade A office space and more than 50,000 high-skilled jobs.

Ahmedabad currently has over 30 GCCs and around 3,700 technology firms, while GIFT City contributes another 4.1 million sq ft of Grade A office stock. Office occupancy costs in Ahmedabad are estimated to be 30-35% lower than major Indian markets.

Improved connectivity and the Gujarat GCC Policy 2025-30, which targets more than 250 GCCs and over ₹10,000 crore in investment, are expected to further support growth.

Ahmedabad-GIFT City is increasingly attracting global companies seeking alternatives to established technology hubs, supported by competitive costs, a strong talent base and GIFT City’s financial services ecosystem.

According to a DevX-Anarock report, the corridor could attract 40–50 new Global Capability Centres (GCCs), generating demand for 4–6 million sq ft of Grade A office space and more than 50,000 high-skilled jobs.

Ahmedabad currently has over 35 GCCs and around 3,700 technology firms, while GIFT City adds about 4.1 million sq ft of Grade A office stock. Banking, financial services and insurance (BFSI) remains a major growth driver.

The report also projects 1–1.5 million sq ft of flex and managed-office demand across GIFT City, SG Highway and western Ahmedabad.

The Wealth Company has launched the IFSC Fund of Funds (FoF) at GIFT City, offering eligible NRIs and overseas investors a single, US dollar-denominated route to invest in Indian mutual funds and ETFs.

The open-ended Category III AIF can invest across equity, debt, hybrid and sectoral funds, index strategies, gold and silver ETFs, and Specialised Investment Funds. The structure allows professional fund managers to handle fund selection and portfolio allocation.

The fund is aimed at eligible NRIs, HNIs/UHNIs, family offices, accredited and institutional investors. Resident Indians and investors based in the US and Canada are currently excluded.

The launch further strengthens GIFT City’s role as a gateway for overseas capital seeking regulated access to Indian investment opportunities.

Ahmedabad and GIFT City are emerging as attractive real estate destinations for NRIs, supported by expanding commercial activity, infrastructure development and policy incentives.

Key residential markets include SG Highway, GIFT City and Bopal, where three-bedroom homes are typically priced between ₹70 lakh and ₹1.4 crore, with estimated rental yields of 3% to 4%.

GIFT City’s growing financial ecosystem and infrastructure-led development are strengthening the region’s investment appeal, particularly for NRIs seeking long-term capital appreciation.

Standard Chartered has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to distribute capital market products from GIFT City, paving the way for the launch of its wealth management services in the coming months.

The bank, which became the first foreign bank to begin operations at GIFT City in 2020, currently serves over 600 corporate and institutional clients, has financed more than USD 25 billion across products, and holds around 50% market share in regional treasury centres.

The approval strengthens Standard Chartered’s presence in GIFT City and supports its expansion into retail wealth management while reinforcing the IFSC’s position as a global financial hub.

EarthRe Insurance IFSC Ltd has received a reinsurance licence from the International Financial Services Centres Authority (IFSCA), becoming the first locally incorporated reinsurer in GIFT City. The approval coincides with its parent company, InRisk Labs, raising USD 27 million in a Series A funding round.

EarthRe will offer treaty, facultative, structured and parametric reinsurance solutions focused on India and the Global South, with expertise in natural catastrophe, climate risk, property and crop insurance.

The fresh capital will support EarthRe’s regulatory requirements, strengthen underwriting and AI capabilities, and expand its presence in India’s reinsurance market.

Resident Indian investors can now access US stocks, ETFs, global mutual funds and bonds through GIFT City, offering an alternative route to overseas investing.

The GIFT City framework allows investors to bypass certain domestic investment caps while accessing international financial products. According to ET Online, minimum investments start at around USD 5,000 for mutual funds and USD 150,000 for Alternative Investment Funds (AIFs).

The development further strengthens GIFT City’s position as a gateway for Indian investors seeking regulated access to global markets and greater portfolio diversification.

Artha Bharat Investment Managers is expanding its international investment business through GIFT City, with plans to grow its assets under management and provide Indian investors greater access to global opportunities.

Managing Partner Sachin Sawrikar said the firm is pursuing international expansion into Abu Dhabi, Singapore and Mauritius, while using GIFT City as a gateway for global investing.

The strategy also focuses on increasing retail participation in overseas markets and encouraging portfolio diversification beyond India. The firm sees GIFT City’s regulatory framework as an important enabler for the continued growth of India’s alternative investment ecosystem.

GIFT City-based Artha Bharat Investment Managers IFSC LLP plans to double its assets under management (AUM) from $750 million to $1.5 billion within three years, supported by a wider investor base and international expansion.

The company has received principal approval from the Abu Dhabi Global Market regulator and expects a full operating licence by the end of 2026. It also plans to launch two USD-denominated products, including a commodity and precious metals arbitrage fund and a global equity fund.

Artha Bharat is also exploring expansion into Mauritius and Singapore, while strengthening its distribution network across major Indian cities.

With international mutual funds in India no longer accepting fresh SIPs, GIFT City’s International Financial Services Centre (IFSC) is emerging as an alternative route for Indian investors seeking global diversification.

Through the Liberalised Remittance Scheme (LRS), resident Indians can invest in GIFT City-based outbound funds that provide exposure to international markets, including the US, Europe, Japan, China, Taiwan and other developed economies.

The growing availability of IFSC investment products is expected to strengthen GIFT City’s role as a gateway for global investing, offering investors a regulated avenue to access overseas markets.

Punjab National Bank (PNB) has approved raising up to $1.5 billion through foreign currency bonds under a medium-term note programme, with the issuance to be routed through its IFSC Banking Unit at GIFT City.

The fundraising aims to strengthen the bank’s foreign currency resources and support business growth. PNB also expects its net profit to exceed ₹20,000 crore in the current financial year, backed by continued growth in retail, agriculture and MSME lending.

The move further highlights GIFT City’s growing role as a preferred platform for international fundraising and cross-border banking activities.

GIFT International FinTech Institute (GIFT IFI) organised its first Training and Placement Officers (TPO) meet at GIFT City, bringing together 34 placement officers from higher education institutions across Gujarat.

The programme focused on the role of artificial intelligence and emerging technologies in enhancing student employability, placement practices and industry-academia collaboration. Experts highlighted the need for institutions to adopt technology-driven approaches to prepare students for careers in financial services, fintech and other emerging sectors.

The initiative reinforces GIFT City’s growing role in fostering innovation, skill development and industry-ready talent.

Policybazaar has introduced US dollar-denominated term insurance plans for Non-Resident Indians (NRIs) through GIFT City’s International Financial Services Centre (IFSC).

The plans allow NRIs to pay premiums and receive claim payouts in US dollars, helping protect policy value from currency fluctuations while aligning coverage with overseas income and financial commitments. The offering also features a fully digital onboarding and medical process for a seamless customer experience.

The launch further strengthens GIFT City’s position as a hub for globally focused financial products tailored to the needs of NRIs.

GIFT City is emerging as a key platform for Indian investors seeking regulated access to global investment opportunities through professionally managed funds.

Operating under the International Financial Services Centres Authority (IFSCA), GIFT City enables overseas investments through the Liberalised Remittance Scheme (LRS), offering investors access to international markets while helping diversify portfolios and manage long-term financial goals.

As the ecosystem continues to evolve, GIFT City is expected to play an increasingly important role in expanding global investment opportunities for Indian investors through internationally managed financial products.

Punjab & Sind Bank plans to operationalise its IFSC Banking Unit (IBU) at GIFT City by November 2026 after receiving approvals from the Reserve Bank of India and the International Financial Services Centres Authority (IFSCA).

The IBU will function as the bank’s foreign branch, supporting international banking services, including Foreign Currency Non-Resident (FCNR) deposits, External Commercial Borrowings (ECBs) and foreign exchange business. The bank has completed staffing, selected its IT vendor and begun system integration.

Separately, the lender reported a 23% rise in net profit to ₹331 crore for the June quarter and expects to exceed its ₹1,000 crore recovery target for the current financial year.

GIFT City has sought the Finance Ministry’s approval to recognise commodity trading as a financial activity, a move aimed at transforming India’s international financial centre into a global hub for trading, hedging and financing commodities.

IFSCA has proposed expanding GIFT City’s scope to include commodities such as crude oil, gold, metals and agricultural products, enabling electronic trading, derivatives, trade finance and merchanting. The regulator said the initiative would help bring India-related commodity trading back from overseas financial centres such as Singapore, Dubai and Switzerland.

The proposal follows the successful launch of the India International Bullion Exchange and is expected to strengthen GIFT City’s role as a global financial and commodity trading hub.

GIFT City is emerging as a global financial and technology hub with world-class smart infrastructure, supporting India’s vision of becoming a leading investment destination.

The city features an integrated underground utility tunnel network, a centralised Command and Control Centre for real-time urban management, and sustainable infrastructure designed to global standards. It is also home to leading global companies and international institutions, including Deakin University’s India campus.

By combining advanced infrastructure, global business presence and international education, GIFT City continues to strengthen its position as a model for India’s future urban and financial development.

IFSCA has proposed expanding the list of foreign jurisdictions whose capital market products can be distributed through registered distributors in GIFT City, adding the UAE, Singapore, Australia and the European Union (excluding Croatia).

The proposal aims to broaden investment options for Indian and global investors, improve GIFT City’s competitiveness as an international financial centre, and align the distribution framework with the regulator’s existing Video Customer Identification Process (V-CIP) framework.

IFSCA has invited stakeholder comments on the proposal until August 7, 2026, after which it will consider amendments to the Master Circular for Distributors in IFSC.

GIFT City should become the natural destination for India-related financial business currently conducted overseas, according to GIFT City Managing Director and Group CEO Sanjay Kaul.

Speaking at the CII GCC Business Summit, Kaul said GIFT City is steadily building a globally competitive ecosystem through regulatory reforms, world-class infrastructure and improved ease of doing business. He added that sectors such as aircraft leasing, fund management, treasury operations, insurance and external commercial borrowings present significant growth opportunities.

Kaul also highlighted that around 26,000 people currently work in GIFT City, with ongoing commercial developments expected to support more than one lakh additional jobs in the coming years.

More than 100 companies have approached JPMorgan to explore banking and payment solutions for setting up corporate treasury operations in GIFT City over the next 12–18 months, reflecting growing multinational interest in India’s financial hub.

According to JPMorgan, firms from sectors including insurance and fintech are evaluating GIFT City, attracted by its foreign currency capabilities, regulatory advantages and tax incentives. The city currently hosts 10 operational corporate treasury centres, with multinational companies expected to drive the next phase of growth.

Gujarat Chief Minister Bhupendra Patel reviewed the progress of commercial, residential and social infrastructure projects at GIFT City, highlighting its role in advancing Prime Minister Narendra Modi’s Viksit Bharat 2047 vision.

During a high-level meeting, GIFT City Managing Director Sanjay Kaul presented the Strategic Roadmap-2030, outlining the financial hub’s development priorities and future plans. The Chief Minister emphasised the need to sustain momentum in infrastructure, business growth, talent development and global connectivity.

IFSCA has proposed a framework allowing eligible companies to directly list their equity shares on GIFT City stock exchanges without launching an IPO. Companies can qualify based on revenue, profit or market capitalisation thresholds.

The draft framework outlines a 15-day in-principle approval process, along with disclosure requirements covering financials, risks, management and litigation. Pricing will be based on an independent valuation, with a pre-open session on the listing day for price discovery.

The proposal aims to strengthen GIFT City’s capital markets by aligning its listing framework with global financial centres such as the NYSE, Nasdaq, London Stock Exchange and Tokyo Stock Exchange.

Deakin University’s GIFT City Campus has welcomed its third cohort of students, marking another milestone in the growth of India’s first international university branch campus.

The new students have enrolled in postgraduate programmes in Business Analytics and Cyber Security. Since beginning operations in July 2024, the campus has welcomed three cohorts, celebrated its first graduates and developed partnerships with more than 60 organisations.

Students gain industry exposure through live projects, internships, masterclasses and mentoring programmes. The university’s industry network includes leading Indian and global organisations across banking, technology and other sectors.

The growing campus reflects GIFT City’s expanding role beyond financial services as a hub for international education, talent development and industry-focused learning.

The Centre has exempted eligible GIFT City IFSC units from obtaining licences under the Coastal Shipping Act, 2025, for chartering foreign vessels used in export-import and international trade.

The reform, notified by the Ministry of Ports, Shipping and Waterways, is expected to strengthen GIFT City’s ship leasing and financing ecosystem by reducing regulatory requirements. The exemption applies only to international EXIM operations and does not affect India’s existing cabotage rules for domestic coastal routes.

Ship leasing activity at GIFT City has expanded significantly since IFSCA recognised it as a financial product in 2022. By March 2025, 17 vessels had been leased and more than $71.1 million borrowed to support operations.

The latest regulatory change is expected to further GIFT City’s ambitions of emerging as a competitive global maritime finance hub alongside established centres such as Singapore and Dubai.

The Shipping Ministry has allowed entities operating from GIFT City’s International Financial Services Centre (IFSC) to lease foreign vessels without obtaining permission from the Directorate General of Maritime Administration (DGMA).

Under a gazette notification issued pursuant to the Coastal Shipping Act, 2025, foreign vessels chartered by GIFT IFSC units have been exempted from licensing requirements under Section 11 of the Act.

The move is expected to simplify vessel leasing operations and strengthen GIFT City’s growing ship leasing and international financial services ecosystem.

Deakin University’s GIFT City Campus has welcomed its third cohort of students, marking another milestone for India’s first international university branch campus.

The new students have enrolled in postgraduate programmes in Business Analytics and Cyber Security. Since opening in 2024, the campus has welcomed three cohorts, celebrated its first graduates and developed partnerships with more than 60 industry organisations.

Students gain industry exposure through live projects, internships, mentoring and career-readiness programmes. The growing campus reflects GIFT City’s expanding role as a hub for international education and industry-focused talent development.

GIFT City has signed a strategic partnership with the Vietnam International Financial Center–Da Nang (VIFC-DN) to strengthen cooperation in financial services, fintech, digital innovation and cross-border investment.

Under the MoU, GIFT City will share institutional expertise and best practices to support the development of Vietnam’s international financial centre.

GIFT City also signed agreements with Tata Communications to promote GCCs, treasury centres and technology enterprises, and with CEPT University for collaboration in research, sustainability, urban planning and executive education.

Belong has introduced GIFT Nifty Futures trading through NSE International Exchange (NSE IX), becoming one of the first platforms to offer NRIs and Overseas Citizens of India (OCIs) access to dollar-denominated Nifty 50 futures.

The service enables eligible overseas investors to trade through GIFT City’s international financial ecosystem, further expanding global access to Indian markets.

GIFT City is emerging as a key gateway for global business and financial opportunities, offering entrepreneurs and investors access to world-class infrastructure and international markets.

Speaking at the Vibrant Gujarat Regional Conference in Vadodara, Dr. Mangla Chouhan, President of the Baroda Management Association, encouraged young entrepreneurs to adopt a global mindset and explore GIFT City’s growing ecosystem.

She highlighted opportunities across banking, insurance, capital markets and financial services, noting that GIFT City’s advanced technology and infrastructure are strengthening India’s position as an international financial centre.

JioBlackRock AMC plans to offer a full range of mutual fund products over the next three years, with a strong focus on ETFs, specialised investment funds (SIFs), and offshore investment products through GIFT City.

The asset manager has shortlisted 10 outbound investment products for GIFT City, with the first launches expected after regulatory approvals. It also plans to introduce its first ETFs in the coming months and expand its SIF offerings.

The move aims to provide Indian investors with easier access to global investment opportunities through GIFT City’s international financial ecosystem.

GIFT City has signed an MoU with Vietnam International Financial Center–Da Nang (VIFC-DN) to enhance cooperation in financial services, fintech, innovation, and cross-border investment. The agreement, signed during the Vibrant Gujarat Regional Summit, also covers joint research, knowledge sharing, capacity building, and institutional collaboration.

GIFT City also signed MoUs with Tata Communications, CEPT University, Collabera Talent Solutions, and Finansham Education to support Global Capability Centres (GCCs), research, talent development, and financial education.

As of March 2026, GIFT City hosts over 1,500 entities, with USD 111 billion in banking assets and 217 fund management entities managing 360 investment schemes with capital commitments exceeding USD 39 billion.

Indian fintech firm HiWiPay has received in-principle approval to establish a Payment Service Provider (PSP) unit at GIFT IFSC through a wholly owned subsidiary.

The proposed unit will offer cross-border money transfers, merchant acquisition, and account issuance services for exporters, freelancers, digital businesses, and globally mobile customers. Additional offerings, including e-money issuance and escrow services, will be introduced after receiving final authorisation from the IFSCA.

Central Bank of India has inaugurated its IFSC Banking Unit (IBU) at GIFT City, Gandhinagar, expanding its international banking presence.

The new offshore banking unit will offer cross-border banking, foreign currency deposits, investment banking, foreign currency loans, trade finance, treasury, and correspondent banking services to corporates, institutions, and eligible global customers. The bank said the move supports India's vision of developing GIFT City into a leading global financial hub.

GIFT City will showcase its role as India’s international financial gateway at the Vibrant Gujarat Regional Summit in Vadodara on June 30. The event will feature discussions on cross-border finance, banking, capital markets, fund management, insurance, and emerging financial sectors.

As of March 2026, GIFT City hosted over 1,500 entities employing around 27,000 professionals, with banking assets of USD 111 billion and 217 fund management entities managing commitments exceeding USD 39 billion. The summit will also feature an interactive pavilion highlighting opportunities in fintech, aircraft leasing, and global finance.

The International Financial Services Centres Authority (IFSCA) has approved the establishment of a Global Commodity Trading Platform (GCTP) at GIFT City to strengthen India’s position in global commodity trading.

The platform is expected to offer an integrated ecosystem covering commodity trading, merchant trade, trade finance, and risk management services. It aims to bring a larger share of commodity-linked financial flows and trading activity back to India, which are currently routed through overseas hubs such as Singapore, Dubai, Hong Kong, and Switzerland.

The first phase is likely to focus on merchant trading and precious metals, with operations expected to begin within six months, subject to regulatory approvals.

Avenue Supermarts Ltd., the operator of the DMart retail chain, has opened a new store at GIFT City, Gandhinagar, taking its total store count across India to 501.

The store commenced operations on June 21, 2026, marking another milestone in the company’s retail expansion strategy. The addition also strengthens the growing commercial and retail ecosystem within GIFT City as the financial hub continues to attract businesses, professionals, and residents.

GIFT City is strengthening its social and lifestyle ecosystem as it aims to attract global talent and support long-term growth. The financial hub is developing new recreation, wellness, retail and entertainment facilities to create a more integrated urban environment.

Key projects include an 85,000 sq ft golf entertainment destination, a multi-sport arena expected to open by September 2026, and a destination mall with retail, dining and entertainment offerings. These developments are designed to complement GIFT City’s growing financial ecosystem and enhance its appeal as a live-work destination for professionals and businesses.

Real estate is increasingly becoming a core investment asset for NRIs, moving beyond its traditional role as a second home or emotional investment. Alongside premium housing, NRIs are exploring REITs, commercial properties, and other income-generating real estate assets.

According to industry experts, stronger transparency, digital access, and attractive market conditions are driving interest. Demand remains particularly strong for premium and luxury housing, while commercial real estate and data centres are also emerging as key investment opportunities.

GIFT City is strengthening its position as a global financial and technology hub with world-class infrastructure and smart urban systems. Located in Gandhinagar, the city features an integrated underground utility network that houses power, water, internet, and district cooling services, enabling efficient maintenance and uninterrupted operations.

Its centralised Command and Control Centre allows real-time monitoring of urban services, supporting a smart and sustainable city ecosystem. GIFT City has also attracted major global companies and international institutions, including Deakin University’s India campus.

With advanced infrastructure, a growing business ecosystem, and international connectivity, GIFT City is emerging as a key driver of India’s ambitions to become a global investment and innovation destination.

The Gujarat government has projected that GIFT City will generate 1 lakh jobs by 2031, up from the current workforce of around 27,000 employees.

Speaking at the launch of the Viksit Gujarat Industrial Policy 2026, Chief Secretary M K Das said employment at GIFT City is expected to grow significantly as the financial hub continues to expand. Deputy Chief Minister Harsh Sanghavi also highlighted efforts to attract investments and establish more Global Capability Centres (GCCs) in Gujarat, including at GIFT City.

IT services company Hexaware Technologies has inaugurated a new delivery centre at GIFT City, Gujarat, and plans to create around 1,000 high-skilled jobs over the next three years.

The facility will support clients across banking, financial services and insurance (BFSI) with services spanning AI, cloud, data analytics, digital transformation and software engineering. The company expects its workforce at the centre to grow from about 250 employees initially to 1,000 over the next three years.

Hexaware said GIFT City’s strong financial services ecosystem, talent pool and policy framework were key factors behind its expansion decision.

GIFT City is aiming to strengthen its position in the global aircraft leasing industry, which was valued at $187 billion in 2025. The financial hub currently hosts around 40 lessors managing more than 220 aircraft and engines.

GIFT City MD and Group CEO Sanjay Kaul said India’s rapidly growing aviation sector presents a major opportunity to bring aircraft financing activities onshore through GIFT City. Recent reforms, including the implementation of the Cape Town Convention and new IFSCA frameworks, are expected to boost the leasing ecosystem.

The latest regulatory changes also allow Trust and Company Service Providers (TCSPs) to establish Special Purpose Vehicle (SPV) structures for aircraft leasing from GIFT IFSC.

GIFT City has launched applications for the second cohort of its Fintech Residential Programme, with submissions open until July 5, 2026.

The six-month programme supports early-stage fintech start-ups through mentorship, regulatory guidance, investor access, and ecosystem support. The first cohort assisted 11 start-ups in product development and market growth.

The initiative is part of GIFT City’s broader plan to support 250 fintech start-ups over the next four years.

GIFT City is emerging as a preferred destination for NRIs seeking global banking, investment, and wealth management solutions. Its International Financial Services Centre (IFSC) offers tax benefits, simplified regulations, and the ability to transact in foreign currencies without mandatory conversion into rupees.

Banks and financial institutions are expanding NRI-focused offerings, including foreign currency accounts, global investments, and cross-border payment services. With a business-friendly framework and growing financial ecosystem, GIFT City is strengthening its role as a gateway for international financial transactions linked to India.

International General Insurance Holdings (IGI) has received regulatory approval from the International Financial Services Centres Authority (IFSCA) to establish an Insurance Office in GIFT City, India’s international financial services hub.

The new operation will function as a reinsurance branch of International General Insurance Company (UK) Ltd., with IGI planning to open the branch and begin operations later this year. The company will also build a local team to support its India business.

IGI said the GIFT City presence will strengthen its footprint in the Indian subcontinent and support facultative and specialty treaty reinsurance business. The move adds GIFT City to IGI’s global network, which includes operations in London, Bermuda, Dubai, Kuala Lumpur, Casablanca, Malta, Oslo, and Amman.

Kerala Minister Roji M. John has identified the Kochi Metro extension and the proposed GIFT City project among the key development priorities for Ernakulam district under the state government.

The minister said the government will assess the district’s development requirements and fast-track major infrastructure projects to support economic growth and investment. The proposed GIFT City initiative is expected to strengthen Ernakulam’s position as a financial and business destination, while the metro expansion aims to improve urban connectivity.

GIFT IFSC continued its rapid expansion during Q4 FY2025-26, with total registrations and authorisations rising to 1,213 in March 2026, up from 1,114 in December 2025, according to the latest IFSCA quarterly bulletin.

The insurance sector recorded significant growth, with the number of IFSC Insurance Offices (IIOs) increasing to 36 from 24 in the previous quarter. Insurance Intermediary Offices (IIIOs) also grew from 31 to 34.

Business volumes strengthened across the sector, with direct insurance gross written premium rising to $15.38 million from $9.25 million, while reinsurance gross written premium increased to $186.93 million from $148.13 million during the quarter.

IFSCA said the growth reflects increasing participation, deeper market activity, and GIFT IFSC’s expanding role as a global financial and insurance hub supporting India’s long-term development goals.

The International Financial Services Centres Authority (IFSCA) has introduced a new regulatory framework for pension funds in GIFT City, aiming to attract global retirement capital and expand the IFSC’s financial ecosystem.

The IFSCA (Pension Fund) Regulations, 2026 establish rules for the registration, regulation, and supervision of pension funds operating in GIFT City. Eligible pension fund managers must have a minimum 10-year track record, while pension schemes will offer flexible contribution options and include features such as life-cycle and active-choice investment plans.

Industry experts believe the framework could boost GIFT City’s appeal among global fund managers, wealth platforms, expatriates, and international investors seeking long-term retirement solutions.

GIFT City is targeting 100,000 jobs by 2030, up from around 27,000 currently, as it expands its role as India’s international financial hub.

Speaking at CNBC-TV18’s Leadership Collective event, Sanjay Kaul, MD and Group CEO of GIFT City, said the focus is on building a globally competitive talent pool for banks, fund managers, insurers, exchanges, and leasing firms operating in the ecosystem.

To meet growing demand, GIFT City is partnering with universities and industry bodies, launching specialised training programmes, and developing a fintech institute. The hub currently hosts around 1,300 registered entities, with nearly 100 new registrations each month.

India’s GIFT City has made significant progress in establishing itself as an international financial centre, but experts believe it remains in the early stages compared with mature global hubs such as Singapore and Dubai.

According to Vikas Satija of Shriram Wealth, GIFT City has reached an important inflection point, supported by regulatory reforms, tax incentives, growing participation from global financial institutions, and increasing activity across banking, fund management, insurance, leasing, and fintech sectors.

Decentro has become the first Indian payment aggregator to receive final PSP licence approval from IFSCA at GIFT City, marking a major step for India’s cross-border fintech ecosystem.

The licence will allow Decentro to offer multi-currency accounts, global collections, escrow services, merchant acquisition, virtual accounts, and international money transfers. The move strengthens GIFT City’s role as a global fintech and payments hub, competing with centres like Dubai and Singapore.

Fintech infrastructure company Decentro has received final approval from the International Financial Services Centres Authority (IFSCA) for a Payment Service Provider (PSP) licence at GIFT City, becoming the first Indian payment aggregator to obtain the authorisation.

The licence enables Decentro to offer cross-border payment services through a dedicated GIFT City entity. The company plans to provide multi-currency accounts, cross-border collections, escrow services, merchant acquisition, virtual account issuance, and international payment settlements for businesses operating globally.

According to Decentro, the global cross-border payments market is valued at approximately $200 trillion, and the licence will help expand its offerings for companies managing international transactions across multiple jurisdictions.

The Bengaluru-based fintech, founded in 2020, currently serves more than 1,600 businesses across sectors including fintech, lending, and insurance. The company said its GIFT City operations will function under IFSCA oversight in partnership with designated banking institutions and will be supported by additional hiring in business development and banking partnerships.

GIFT IFSC is rapidly emerging as a global financial hub, driven by regulatory reforms, tax incentives, and strong growth across banking, fund management, capital markets, and leasing sectors.

Banking assets in GIFT IFSC have surged from USD 14 billion in 2020 to USD 106 billion by December 2025. The ecosystem now hosts over 1,200 registered entities, including banks, fund managers, insurers, and leasing firms.

The IFSC has also seen strong traction in fund management, with 327 Alternative Investment Funds targeting a corpus of USD 77 billion, while exchange turnover touched USD 96 billion in December 2025.

Aircraft and ship leasing, international bond listings, and foreign university campuses are further strengthening GIFT IFSC’s position as India’s gateway for global capital flows.

GIFT IFSC is rapidly emerging as a global financial hub, driven by regulatory reforms, tax incentives, and strong growth across banking, fund management, capital markets, and leasing sectors.

Banking assets in GIFT IFSC have surged from USD 14 billion in 2020 to USD 106 billion by December 2025. The ecosystem now hosts over 1,200 registered entities, including banks, fund managers, insurers, and leasing firms.

The IFSC has also seen strong traction in fund management, with 327 Alternative Investment Funds targeting a corpus of USD 77 billion, while exchange turnover touched USD 96 billion in December 2025.

Aircraft and ship leasing, international bond listings, and foreign university campuses are further strengthening GIFT IFSC’s position as India’s gateway for global capital flows.

Union Finance Minister Nirmala Sitharaman reviewed the progress of GIFT City, describing it as a key pillar of India’s global financial ecosystem.

GIFT City now hosts over 1,150 entities, with banking assets crossing USD 110 billion and fund management commitments exceeding USD 32 billion. The ecosystem includes 37 banking units, 217 fund management entities, 36 insurance firms, and growing aircraft and ship leasing operations.

The review focused on expanding banking, fintech, insurance, GCCs, leasing, infrastructure, and global connectivity. Sitharaman said continued coordination among stakeholders will further strengthen GIFT City’s role in India’s Viksit Bharat 2047 vision.

British hedge fund and high-frequency trading firm Qube Research & Technologies (QRT) has become one of the first global trading firms to establish operations in GIFT City’s Special Economic Zone (SEZ).

The move highlights GIFT City’s growing appeal as an international financial hub for offshore trading, algorithmic investing, and derivatives markets. QRT is expected to benefit from tax incentives available at GIFT IFSC, including exemptions on certain derivative trades and a globally competitive regulatory framework.

The entry of global quantitative and hedge fund firms is seen as another milestone in GIFT City’s efforts to position itself alongside established offshore financial centres such as Dubai and Singapore.

Skydo, a cross-border payments platform focused on Indian exporters and businesses, has received in-principle approval to operate as a Payment Service Provider at GIFT City IFSC.

The approval allows Skydo to expand services including multi-currency collections, e-money accounts, merchant acquisition, and international payment corridors. The company said the GIFT City presence will help Indian MSMEs, startups, freelancers, and exporters manage global payments through a more streamlined and compliant system.

Skydo stated that the move strengthens its ability to support cross-border transactions while leveraging GIFT City’s growing role as an international financial hub.

GIFT City is rapidly emerging as India’s gateway for global capital, attracting banks, fund managers, fintech firms, and NRIs through tax incentives, foreign currency transactions, and a unified regulatory framework under IFSCA.

With banking assets crossing $106 billion and over 200 fund management entities operational, the IFSC hub is enabling easier access to global investments, offshore funds, international banking, and cross-border financial services.

Backed by strong infrastructure and growing investor interest, GIFT City is positioning itself as India’s answer to global financial hubs like Dubai and Singapore.

Rising geopolitical tensions in West Asia are prompting global investors and NRIs to reconsider their exposure to Dubai, creating new opportunities for India’s GIFT City to emerge as an alternative international financial hub. Industry experts say NRIs are increasingly opening accounts and moving dollar assets to GIFT City amid concerns over regional instability.

The shift is helping strengthen GIFT City’s position as a gateway for India-linked global investments, supported by tax incentives and a growing IFSC ecosystem. However, experts note that while capital inflows are rising, GIFT City still needs stronger lifestyle infrastructure, talent attraction, and a broader ecosystem to compete long term with established hubs like Dubai and Singapore.

GIFT City is rapidly evolving beyond a financial hub into a full-scale smart urban ecosystem, driving strong growth in residential real estate, hospitality, retail, and lifestyle services around Gandhinagar. Developers and consultants say rising demand from NRIs, professionals, and global firms is reshaping the city into a preferred destination for high-income residents seeking international-standard living and business infrastructure.

Industry experts highlighted that GIFT City’s IFSC framework, 20-year tax incentives, strong security, and advanced infrastructure are attracting overseas investors and professionals. Residential demand is rising sharply despite limited housing supply, with projects witnessing significant bookings from NRIs. Developers expect the city’s workforce to touch nearly one lakh jobs by 2030, which could fully absorb existing residential inventory. Many residents compare GIFT City’s clean environment, app-based security, and professional ecosystem to living standards in countries like the UK.

ICICI Bank, in partnership with Visa, has launched India’s first US dollar-denominated debit card for NRIs through its IFSC Banking Unit at GIFT City. Linked to ICICI Bank’s USD Global Savings Account, the card enables NRIs to spend directly in US dollars across global ATMs, POS terminals, and online platforms without currency conversion markups on eligible transactions.

Built on Visa’s Infinite platform, the card offers premium travel and lifestyle benefits along with enhanced security controls such as transaction limits and customizable usage settings. The launch highlights GIFT City’s growing role as a hub for international banking innovation and offshore financial services tailored for globally mobile Indians.

As global AI-driven markets like South Korea and Taiwan outperform amid the semiconductor boom, Indian investors are increasingly looking beyond domestic equities for international diversification. However, overseas investing remains restricted due to regulatory hurdles and limited access to global funds.

GIFT City is emerging as a potential solution by offering Indian investors easier access to global investment products through a regulated offshore-style financial ecosystem. Experts believe GIFT City could help investors diversify across international markets and currencies while benefiting from simplified structures, tax efficiency, and global investment access, especially at a time when Indian markets face high valuations and slower earnings growth.

IIFL Capital Services has incorporated a wholly owned subsidiary, IIFL Capital (IFSC) Limited, at GIFT City’s International Financial Services Centre (IFSC) in Gujarat. Approved by the Ministry of Corporate Affairs on May 11, 2026, the new entity will operate as a broker-dealer and distributor under the IFSCA (Capital Market Intermediaries) Regulations, 2025.

The subsidiary has an authorised capital of ₹10 crore, with IIFL Capital holding 100% ownership through cash subscription. The move follows SEBI’s no-objection approval and strengthens IIFL’s presence in GIFT City’s growing financial ecosystem, which is increasingly attracting capital market, banking, and global investment firms.

Union Civil Aviation Minister Rammohan Naidu said India is working to transform GIFT City into a complete global aviation leasing and financing hub, rather than just a registration centre for aircraft leasing. Speaking at the India Aircraft Leasing and Financing Summit 2.0 in Gandhinagar, he highlighted ongoing legal, tax, and financing reforms aimed at strengthening India’s aviation ecosystem and attracting global lessors and investors.

The government wants leasing transactions to be originated, financed, and managed within GIFT City itself. India’s aviation market is expanding rapidly, with the commercial fleet expected to grow to 2,250 aircraft by 2032, while GIFT IFSC already hosts 38 registered aircraft lessors. The Centre is also focusing on domestic aviation financing, seaplane leasing opportunities, airport expansion, and regulatory reforms aligned with global standards like the Cape Town Convention.

Akasa Air has launched a dedicated aircraft financing and leasing arm, Akasa Air Leasing IFSC Pvt Ltd (AALIL), at GIFT City in Gandhinagar to strengthen its long-term fleet financing strategy. The new entity aims to improve financing flexibility, reduce costs, and provide better access to global capital markets through the IFSC ecosystem.

The airline plans to use the leasing unit to finance a majority of its aircraft over time while boosting India’s onshore aviation leasing capabilities. GIFT City continues to emerge as a major aviation leasing hub, with airlines such as Air India and IndiGo also establishing leasing entities there.

A detailed legal and tax analysis argues that GIFT City should be viewed as a “tax architecture” rather than a tax shelter, backed by clear legislation, regulatory oversight, and operational substance requirements. Key incentives include a 20-year tax holiday, concessional tax rates, exemptions on transaction taxes, and frameworks that allow global fund managers to operate tax-efficiently from within India’s IFSC ecosystem.

The article highlights that GIFT City is increasingly positioning itself as a serious platform for global asset management, offshore fund operations, and cross-border finance, while maintaining strict compliance standards under IFSCA. With real operational requirements, foreign currency rules, and enforcement mechanisms, the IFSC aims to balance investor incentives with regulatory credibility.

GIFT City is increasingly emerging as a preferred offshore investment gateway for Indian investors and NRIs, competing with global financial hubs like Dubai and Singapore. While Dubai appeals to globally mobile entrepreneurs and Singapore remains a hub for legacy wealth and succession planning, GIFT City is positioning itself as a cost-effective, India-linked platform for foreign currency investing and global diversification.

Experts highlight GIFT City’s advantages such as tax efficiency, USD-denominated products, simplified digital onboarding, and regulatory support under IFSCA. Although it still trails Dubai and Singapore in product depth and global wealth infrastructure, GIFT City is steadily gaining traction as the first offshore investment destination for India-based investors seeking international exposure without changing tax residency.

Major companies including Adani Group, Bharti Airtel, Genpact, ZF Friedrichshafen, and ArcelorMittal are setting up treasury operations in GIFT City, reinforcing its emergence as a global financial hub. The move is driven by benefits such as cheaper funding access, lower taxes on dividend remittances, foreign currency asset holding, and improved cash management flexibility.
GIFT City is increasingly attracting multinational treasury centres traditionally based in hubs like Singapore and the Netherlands. Regulatory changes, tax incentives, and growing policy support are accelerating this shift, with several more companies expected to begin operations in the coming months.

GIFT City is gaining traction among cross-border digital payment firms, with companies like Razorpay, Cashfree, and Skydo exploring Payment Service Provider (PSP) licences to expand international operations. The platform enables firms to offer multi-currency wallets and streamline payments for global travelers and import-export businesses.

By complementing existing RBI frameworks, GIFT City provides a regulated environment for fintech innovation, helping firms simplify cross-border transactions and strengthen India’s position in global digital payments.

The International Financial Services Centres Authority (IFSCA) has advised entities operating in GIFT City to wait for further guidance following a recent RBI circular on Foreign Liabilities and Assets (FLA) FAQs. The current communication does not clearly interpret the RBI’s position, leading to uncertainty among IFSC participants.

Entities have been asked to hold off on taking action until clearer regulatory directions are issued, highlighting ongoing alignment challenges between domestic RBI frameworks and GIFT City’s international financial ecosystem.

GIFT City will be a key focus at the Vibrant Gujarat Regional Conference (VGRC) – South Gujarat on May 1–2 in Surat, with dedicated sessions highlighting its role as India’s International Financial Services Centre (IFSC) and a global hub for finance, fintech, and Global Capability Centres (GCCs). Discussions will cover cross-border finance, capital markets, fund management, and investment opportunities.

The event will also host a GCC conclave showcasing Gujarat’s policy framework and GIFT City’s infrastructure, talent pool, and ease of doing business. With over 1,100 registered entities and banking assets exceeding $106 billion, GIFT City continues to strengthen its position as a gateway for global capital and enterprise growth.

GIFT City is set to significantly scale its district cooling system (DCS) capacity from 10,000 TR to 30,000 TR by 2030, with a new plant planned in the SEZ and upgrades to existing infrastructure. The system, which has already replaced around 14,500 standalone air conditioners, will expand to serve about 55 buildings by 2028, including commercial, residential, and social infrastructure.

The expansion will improve energy efficiency and sustainability, with district cooling delivering around 30% energy savings compared to conventional systems. With thermal energy storage and advanced infrastructure, the initiative strengthens GIFT City’s position as a leader in smart, sustainable urban development.

GIFT City is set to expand its footprint by over 15%, adding 161 acres to its current 1,065-acre area and taking the total size beyond 1,220 acres. The expansion will include riverfront land reclamation along the Sabarmati and additional contiguous government land, supporting the next phase of growth for India’s flagship financial hub.

The move comes amid strong development momentum, with new commercial and residential space under construction and a large pipeline of future projects. The expansion is expected to strengthen GIFT City’s capacity to attract more businesses, residents, and global financial activity.

Policybazaar has expanded its operations in GIFT City, offering US dollar-denominated investment-linked insurance products to NRIs across more than 35 countries through fully digital onboarding. The company said GIFT City now accounts for over half of its NRI customer base, driven by tax benefits, seamless repatriation, and access to global investment options.

The platform is seeing strong interest from younger investors aged 28 to 45, while Policybazaar is also growing its reinsurance presence in GIFT City. The expansion highlights GIFT City’s rising position as a credible alternative to global financial hubs like Singapore and Dubai for cross-border wealth and insurance solutions.

Indian equities are increasingly attracting NRI investors due to India’s strong long-term growth story, with the Sensex delivering solid returns over time. Many NRIs now view India as a core portfolio allocation, supported by economic reforms, rising domestic demand, and the country’s path toward becoming the world’s third-largest economy.

At the same time, GIFT City is gaining popularity as a strategic investment gateway, offering foreign currency investing, easy repatriation, tax efficiency, and access to global assets. Rising participation from younger NRIs and investors from the US, UAE, and UK signals growing confidence in both India’s markets and GIFT City as part of long-term wealth strategies.

Natixis Corporate & Investment Banking (Natixis CIB) has opened a new branch in GIFT City, strengthening its presence in India’s International Financial Services Centre. The branch is expected to support growth, improve client servicing, and expand international diversification opportunities.

The GIFT City branch will offer foreign currency-denominated structured products and financing solutions across sectors such as energy, commodities, infrastructure, aviation, export finance, and External Commercial Borrowings (ECBs). Natixis also plans to scale operations further in line with business growth and regulatory frameworks.

Global companies are increasingly considering GIFT City as a base for treasury operations amid geopolitical tensions in West Asia and rising demand for stable financial hubs. According to GIFT City officials, around 15 global entities are exploring the IFSC for managing cash flows, funding, hedging, and cross-border finance from a centralized location.

Traditionally dominated by hubs like Singapore and Dubai, treasury activities may now shift partly to GIFT City due to India’s strong growth outlook, policy support, and strategic location. The city is positioning itself as an emerging destination for multinational treasury centres and regional financial operations.

GIFT City is emerging as a model for India’s next-generation urban and financial development, combining smart infrastructure, global business presence, and advanced technology systems. Its integrated underground utility tunnels, district cooling, and centralized Command and Control Centre enable efficient real-time management of city services.

Located in Gandhinagar, GIFT City continues to attract major global firms such as Bank of America, KPMG, and Infibeam Avenues, while also hosting international institutions like Deakin University. The city is positioning itself as a blueprint for India’s future smart cities and a growing global investment destination.

GIFT City has issued its first family office permit, marking a major milestone in expanding private wealth management within India’s International Financial Services Centre. The approval was granted to Poorman Asset Management IFSC Pvt Ltd, highlighting GIFT City’s efforts to attract global family offices seeking structured and tax-efficient wealth management solutions.

The move strengthens GIFT City’s position as an alternative to hubs like Dubai, especially amid rising geopolitical concerns in the Gulf. It also signals growing momentum for GIFT City in private wealth, offshore structuring, and global capital management.

GIFT City is rapidly emerging as a preferred investment gateway for NRIs due to its tax efficiency, foreign currency investing, easy repatriation, and globally aligned financial framework. As overseas Indian wealth grows and investors seek structured exposure to India, GIFT City offers a seamless route to invest in equities, debt, AIFs, mutual funds, and global assets.

Its appeal is further supported by India’s strong economic growth outlook, expanding capital markets, and simplified regulations under IFSCA. With increasing focus on efficiency, governance, and cross-border wealth planning, GIFT City is positioning itself as a strategic bridge between global Indian capital and India’s long-term growth story.

Gujarat Chief Minister Bhupendra Patel said the state will play a major role in achieving Viksit Bharat 2047, supported by its industrial strength, innovation ecosystem, and business-friendly policies. He highlighted GIFT City as one of Gujarat’s flagship initiatives driving next-generation economic growth and strengthening the state’s global financial presence.

The CM noted that GIFT City, along with sectors like semiconductors, logistics, and renewable energy, has positioned Gujarat at the forefront of future-ready industries. As India’s International Financial Services Centre, GIFT City is expected to remain a key catalyst in attracting global investment, boosting exports, and helping Gujarat reach its $3.5 trillion economy target by 2047.

Full-service law firm Khaitan & Co has launched a new office in GIFT City, Gandhinagar, marking its entry into India’s International Financial Services Centre (IFSC). The move aligns with the firm’s strategy to expand in Gujarat and strengthen its presence in cross-border financial and regulatory services.

The firm aims to leverage GIFT City’s growing ecosystem, offering expertise in areas such as global capability centres, treasury hubs, and capital markets, while tapping into increasing international financial activity and investment opportunities in the region.

India’s senior living housing segment is witnessing strong growth, with developers expanding into new cities including GIFT City, driven by rising demand and an aging population. The sector remains under-penetrated, with only around 22,000 units available against demand for nearly 4 lakh homes, creating significant expansion opportunities.

Developers are increasingly launching premium and large-scale projects, with higher pricing and enhanced amenities. With India’s senior population expected to grow sharply and the market projected to reach $7.7 billion by 2030, GIFT City is emerging as a new destination within this evolving real estate segment.

PRANA by Nila has become GIFT City’s first residential project to receive EDGE Advanced Pre-Certification, achieving 48% energy savings, 52% water savings, and 46% lower embodied carbon, well above standard benchmarks. It has also secured WELL Pre-Certification, highlighting a dual focus on sustainability and occupant well-being.

The project, comprising 696 units, integrates energy-efficient design, renewable energy, and water recycling systems, setting new benchmarks for green residential development in GIFT City and reinforcing the shift toward sustainable urban living.

GIFT City is rapidly emerging as a preferred investment destination for NRIs, with capital commitments surging 60 times to $32.13 billion by December 2025. The IFSC ecosystem now hosts over 1,000 registered entities and banking assets exceeding $106 billion, reflecting strong growth and global participation.

The appeal lies in tax efficiency, foreign currency investing, and simplified cross-border wealth management, supported by evolving IFSCA regulations. With expanding fund structures and India’s strong economic outlook, GIFT City is becoming a strategic gateway for global Indian capital into domestic growth opportunities.

GIFT City’s fund management ecosystem has seen massive growth, with capital commitments rising nearly 60 times from under $0.5 billion in March 2020 to $32.13 billion by December 2025. The number of Fund Management Entities (FMEs) also increased significantly, from 8 to over 200, reflecting strong participation from both domestic and global investors.

The growth is driven by rising interest in innovative investment products and increased global integration, with funds raising $17.34 billion so far, most of which has been deployed in India. GIFT City is increasingly emerging as a key platform for both inbound and outbound investments.

Indian family offices are increasingly exploring Singapore and GIFT City as alternative wealth management hubs as geopolitical risks rise in Dubai, which had recently attracted significant Indian capital.

The shift reflects a move toward more stable and regulated financial centres, with GIFT City gaining attention as a domestic offshore option offering global investment access within India’s regulatory framework.

GIFT City’s insurance and reinsurance market has grown rapidly, with premium volumes rising from $102 million in 2020 to $1.2 billion in 2025, driven mainly by non-life segments such as trade credit, marine, and aviation insurance linked to cross-border trade and financing.

The expansion is supported by increasing participation from global and domestic insurers, with Insurance Offices rising from 8 to around 24. Entry of major global players and regulatory clarity have strengthened underwriting capacity, positioning GIFT City as a growing hub for India-linked risk underwriting.

GIFT City’s insurance and reinsurance sector has expanded significantly, with premium volumes increasing from $102 million in 2020 to over $1.2 billion in 2025, marking an 11-fold growth. This surge is supported by the rise in Insurance Offices from 8 to around 24 and increased participation from global players like Allianz, Generali, and Lloyd’s, along with domestic insurers.

Growth has been largely driven by non-life and reinsurance segments such as trade credit, marine, and aviation insurance, which are closely linked to cross-border trade and financing. Industry experts note that rising global participation and regulatory clarity are strengthening GIFT City’s position as a key hub for India-linked risk underwriting.

GIFT City’s insurance and reinsurance sector has witnessed rapid expansion, with premium volumes rising more than 11 times from $102 million in 2020 to over $1.2 billion in 2025. This growth is driven by increasing participation from global and domestic insurers, with the number of Insurance Offices (IIOs) growing from 8 to around 24.

The expansion is largely led by non-life and reinsurance segments such as trade credit, marine, and aviation insurance, supporting cross-border trade and financial activities. With strong regulatory support and entry of major global players, GIFT City is steadily emerging as a key hub for India-linked risk underwriting.

GIFT City has emerged as India’s first fully operational global financial and IT hub, with over 1,150 registered entities, banking assets crossing $106 billion, and capital markets reaching $80 billion. The ecosystem also includes 349 funds targeting $80 billion, reflecting strong global capital participation and growth.

Beyond finance, the city is expanding into infrastructure, technology, and employment, with projections of 100,000 jobs by 2030. With global outreach, advanced infrastructure, and a diversified ecosystem spanning banking, insurance, leasing, fintech, and education, GIFT City is positioning itself as a key gateway to international finance.

Deakin University, the first foreign university with a physical campus in India, plans to introduce undergraduate programmes and short-term courses at its GIFT City campus after awarding degrees to 46 students in its first convocation. The campus currently offers postgraduate courses in Business Analytics and Cyber Security.

The expansion is driven by improving infrastructure and growing demand, with plans to add industry-focused short courses tailored to local needs. The move highlights GIFT City’s emergence as an integrated hub for education, finance, and technology, supported by strong government focus on global-standard higher education.

Banking assets in GIFT City’s IFSC have grown sevenfold over five years, reaching $106.7 billion as of February 2026, up from $14 billion in September 2020. This growth has been driven by increasing participation from global and domestic banks, along with improved infrastructure like the foreign currency settlement system (FCSS), which enhances cross-border transaction efficiency.

With 37 banks operating in the IFSC, including major global institutions, GIFT City is strengthening its position as a hub for international banking, treasury operations, and cross-border financing, supported by expanding institutional presence and policy support.

GIFT City has introduced the Women in Fintech Accelerator through its IFSC innovation hub to support women-led startups by enhancing investment readiness, providing mentorship, and enabling investor connections. The programme follows a hybrid format with in-person immersion and virtual engagement tailored to startup needs.

The initiative focuses on building a stronger, inclusive fintech ecosystem by helping startups scale sustainably, access capital, and connect with institutional investors, reinforcing GIFT City’s commitment to innovation and diversity in financial services.

Despite being a major producer and consumer of commodities, India has historically remained a price taker, with global hubs like London, Singapore, and Dubai controlling pricing and trade. GIFT City aims to change this by offering a competitive regulatory framework under IFSCA, enabling India to capture more commodity trading, pricing, and risk management activities domestically.

However, success will depend on building strong liquidity, global participation, and infrastructure, including multi-currency clearing, robust risk frameworks, and physical trade linkages. While tax incentives and strategic advantages support the vision, effective execution will determine whether India can transition into a true global commodity pricing hub.

XED Executive Development has extended its $12 million GIFT City IPO deadline to March 30, 2026, due to delays in investor verification processes, particularly for NRIs and foreign investors. Issues with video-based KYC checks and geopolitical disruptions slowed participation, with subscriptions reaching only about 5% of the issue.

The development highlights operational and global challenges affecting GIFT City’s first IPO, including the ongoing Middle East conflict and weak investor sentiment. While the listing marks a milestone for GIFT City’s ambitions as a global financial hub, it also underscores hurdles in execution and cross-border participation.

Gujarat Chief Minister Bhupendra Patel highlighted that GIFT City has evolved into a unique ecosystem integrating financial services, technology, and education, while addressing the first convocation at Deakin University’s GIFT City campus. He emphasized Gujarat’s transformation in higher education through a strong focus on digital and tech-driven learning aligned with global standards.

The event also marked the graduation of the first batch from an international branch campus in India, showcasing the country’s emergence as a global knowledge hub. Gandhinagar’s growing presence of premier institutions like NIFT, NID, IIT Gandhinagar, DA-IICT, and NIPER further strengthens its position as an educational center.

India is developing GIFT City as a global aviation leasing hub by introducing SPVs for asset protection, extending tax holidays to 15 years, and aligning laws with the Cape Town Convention. These reforms aim to reduce leasing costs by 8–10% and attract global lessors, especially after past repossession issues like the Go First insolvency.

With over 80% of aircraft in India leased and strong sector growth expected, GIFT City is targeting a share of the $187 billion global market. However, concerns remain around legal enforcement and execution, which will be key to building long-term investor confidence.

Wipro has launched a new hub in GIFT City, Gandhinagar, to strengthen its AI-powered capabilities for global Banking, Financial Services, and Insurance (BFSI) clients. The center will focus on areas like digital banking, regulatory technology, risk and compliance, and platform modernization, aligned with its Wipro Intelligence™ offerings.

The hub starts with 150 seats and can scale to 500, supporting innovation, client collaboration, and local talent development. This move reinforces GIFT City’s growing position as a global financial and technology hub while expanding Wipro’s AI-driven transformation services worldwide.

XED Executive Development has launched the first-ever IPO from GIFT City’s IFSC, marking a key milestone in India’s push to attract global capital. The dollar-denominated issue, open from March 16 to March 24, 2026, aims to raise $12 million at a price band of $10–$10.5 per share, with listings planned on NSE IX and India INX.

The IPO is exclusively open to overseas investors, including NRIs and FPIs, and reflects GIFT City’s growing role as an international financial hub. Originally delayed due to Middle East geopolitical tensions, the offering is being closely watched as a test case for future global listings from India’s offshore financial ecosystem.

High-net-worth individuals are increasingly moving their savings to GIFT City, India’s International Financial Services Centre, to access foreign currency accounts, global investment opportunities, and potential tax advantages. The IFSC framework allows investors to diversify internationally while operating within Indian regulations.

Products like foreign currency fixed deposits and access to global markets make it attractive for wealth management. However, investors must still consider eligibility rules, minimum balances, currency risk, and regulatory requirements before shifting funds.

XED Executive Development launched its dollar-denominated IPO at GIFT City on March 16, 2026, targeting up to $12 million through listings on NSE IX and India INX. The offering marks an important milestone for India’s international financial centre. However, the IPO’s delayed launch due to geopolitical concerns highlights the challenges associated with cross-border capital raising.

Zurich-based reinsurer Echo Re has received approval from the International Financial Services Centres Authority (IFSCA) on 12 March 2026 to open a reinsurance branch office in GIFT City IFSC. The new office is intended to strengthen the company’s operations in India, where it has been active for more than a decade and has developed a diversified treaty reinsurance portfolio across property and casualty (P&C) and specialty lines.

The move reflects Echo Re’s strategy to deepen its presence in one of the world’s fastest-growing insurance markets. Company executives said the GIFT City branch will help enhance local engagement with clients, expand underwriting capabilities, and support business growth as GIFT City continues to emerge as a key reinsurance hub in the region.

Bank of Baroda has raised $500 million through a five-year syndicated loan arranged via its IFSC banking unit in GIFT City, marking its return to the international debt market after about a year. The transaction involved 13 international investors from Taiwan, South Korea, Japan, and Singapore, with MUFG Bank and HSBC acting as mandated arrangers. The funds will be used for general banking and corporate purposes as part of the bank’s strategy to diversify its funding sources beyond domestic deposits.

Bank of Baroda currently holds investment-grade credit ratings (BBB/BBB-/Baa3) and had ₹4,879.08 billion in international business as of December 31, 2025, accounting for 16.08% of its global operations across 15 countries. Despite the positive fundraising development, the bank’s stock declined slightly by 0.5% on the announcement day. The move highlights the growing role of GIFT City as a gateway for Indian banks to access global capital, though potential risks remain from global interest rate changes, currency fluctuations, and broader economic uncertainty.

Three Ahmedabad investors allegedly lost Rs 1.56 crore after being promised 1% monthly returns, a 12% bonus, and a buy-back option for investing in a shop at WTC GIFT City Tower. The investment was introduced in 2021 by a broker, and the investors later met officials from WTC Noida Development Company, who reportedly repeated the assurances.

The investors collectively invested Rs 1,56,83,360 and initially received some monthly payouts. However, when the buy-back option was due in March 2023, the post-dated cheques allegedly bounced, and the investors could not recover their money.

A complaint has been filed with the Ahmedabad City Crime Branch, which has registered an FIR against Ashish Bhalla and others and started an investigation.

XED Executive Development has postponed the launch of its IPO from March 6 to March 16, 2026, with the issue now set to close on March 24, 2026, citing geopolitical uncertainties in the Gulf region. The IPO is notable as it will be the first public offering launched from GIFT City, India’s International Financial Services Centre.

The company aims to raise $12 million through a US dollar-denominated listing on NSE International Exchange (NSE IX) and India International Exchange (India INX). The offering will be open to eligible global investors under IFSCA regulations, including NRIs, foreign portfolio investors, and institutional investors. XED, founded in 2018, provides executive education programs and serves professionals across more than 25 countries.

GIFT City’s fund management sector is expanding rapidly, with 202 registered fund management entities and fund commitments reaching $26.3 billion. However, the growth is being challenged by a significant talent shortage, including lower salaries (10–15% below major Indian cities) and high attrition rates of 22–25%, rising to 30–40% in Global Capability Centres.

Competition from established financial hubs like Singapore and Dubai, along with limited lifestyle infrastructure, is making it harder to attract skilled professionals. Addressing talent, infrastructure, and ecosystem gaps will be crucial for GIFT City to achieve its ambition of becoming a global financial hub.

Aircraft leasing from GIFT City’s IFSC has grown sharply, rising from 63 aircraft in December 2024 to 196 by December 2025, and reaching 198 by January 2026. The leased assets are valued at $6.886 billion, supported by $615 million in financing from IFSC banking units.

The growth is driven by regulatory reforms, tax incentives, and stronger aviation financing through banks and investors. While most aircraft are leased to Indian airlines, expanding international leasing and strengthening financial expertise will be key for GIFT City to become a global aviation leasing hub.

GIFT City is preparing a framework that will allow Indian and global companies to directly list shares on its exchanges without launching an IPO or raising new funds. The move aims to increase liquidity, attract global investors, and provide a lower-cost listing option, while detailed rules from the regulator (IFSCA) are still awaited.

Indian companies are increasingly exploring fundraising through GIFT City treasury centres to benefit from a 20-year tax holiday and zero withholding tax on dollar bonds. Firms such as Adani Transmission Step-One (ATSOL) plan to raise $500 million, while 360tf is also considering this route. Indian Oil and ONGC, which already have treasury centres there, may also explore similar fundraising.

Interest has risen after ReNew Global Energy issued $600 million green bonds at 6.5% in January 2026 via its GIFT City entity. The issue was four times oversubscribed, highlighting the tax advantages and lower borrowing costs attracting more companies to raise global debt from GIFT City.

HSBC’s IFSC banking unit at GIFT City has entered into a strategic referral partnership with India INX Global Access IFSC Ltd (India INX GA) to enhance outbound investment opportunities for Indian investors. The collaboration enables structured access to international equities, debt instruments, and other global assets through GIFT City’s regulated framework under the International Financial Services Centres Authority (IFSCA).

The initiative responds to rising demand among Indian high-net-worth and affluent investors for geographic diversification, supported by the Liberalized Remittance Scheme (LRS), which allows remittances of up to USD 250,000 annually. The move further strengthens GIFT City’s positioning as India’s offshore financial gateway, competing with global hubs like Singapore and Dubai, while maintaining regulatory oversight and compliance standards.

Life Insurance Corporation of India (LIC) has commenced operations at its International Financial Services Centre (IFSC) Branch in GIFT City, Gandhinagar, Gujarat, effective February 27, 2026.

The update was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following its earlier communication dated December 26, 2023, regarding the branch’s establishment.

Bermuda-based reinsurer PartnerRe has received regulatory approval to open a branch office in GIFT City, India, as part of its Asia Pacific reinsurance operations led by James Beedle.

The move strengthens PartnerRe’s long-term commitment to the Indian market and will enhance support for local insurers through improved responsiveness, regulatory alignment, and access to its global underwriting expertise and capital strength.

PartnerRe joins other global reinsurers such as Santam, Saudi Re, and Korean Re that have recently secured approvals to establish branches in GIFT City.

In the Union Budget 2026, the government increased the Securities Transaction Tax (STT) on futures from 0.02% to 0.05% and raised STT on options to 0.15% to curb excessive speculation in the derivatives market. The move triggered short-term market volatility, with benchmark indices declining on Budget day.

At the same time, the tax holiday for units operating in GIFT IFSC has been extended from 10 to 20 consecutive years within a 25-year window, followed by a reduced flat tax rate of 15%. This policy aims to attract long-term foreign investment, strengthen India’s position as a global financial hub, and enable offshore IPO listings at GIFT City.

The Union Cabinet has approved a 3.33-km extension of the Gujarat Metro’s North-South corridor from GIFT City to Shahpur at an estimated cost of Rs 1,067.35 crore. The elevated stretch will include three stations and is expected to be completed in four years.

Prime Minister Narendra Modi said the project will enhance Ahmedabad–GIFT City connectivity, boost commerce, and improve ‘Ease of Living.’ The extension is projected to generate around 1,000 construction jobs and 250 operations roles, while benefiting businesses, institutions, and daily commuters.

GIFT City, Gandhinagar, welcomed a high-level delegation from the West Midlands Combined Authority, UK, led by Mayor Richard Parker, to enhance India-UK collaboration in financial services, innovation and education. The visit included representatives from leading UK universities, industry bodies and business organizations. Discussions focused on international financial services, digital finance, artificial intelligence, sustainable finance and academic partnerships.

GIFT City officials highlighted the IFSC’s regulatory framework, infrastructure readiness and investment opportunities, with both sides exploring future institutional linkages and knowledge partnerships to boost cross-border capital flows and innovation-driven growth.

Gujarat Deputy Chief Minister Harsh Sanghvi announced that the number of towers in GIFT City is expected to double within the next 1.5 years, citing rising demand for commercial space. Speaking at an ASSOCHAM event in Ahmedabad, he highlighted Gujarat’s growing contribution to India’s manufacturing sector—currently 18%, projected to reach 25% by 2025—and noted that every third export dollar comes from the state.

He also mentioned a 22% increase in the state’s industry budget allocation and emphasized opportunities in GIFT City and Dholera SIR. Other officials reiterated the government’s commitment to industry-led growth, ease of doing business, infrastructure investment, and leveraging international trade agreements.

South Africa’s largest short-term insurer, Santam, has received approval to establish a reinsurance branch at Gujarat International Finance Tec-City (GIFT City), India’s first operational greenfield smart city and International Financial Services Centre (IFSC). The licence, granted in January 2026 by the International Financial Services Centres Authority (IFSCA) and other relevant authorities, allows Santam to operate as an International Insurance Office (IIO).

Through Santam Re and Santam Specialist Solutions, the group will offer treaty and facultative reinsurance capacity across property, engineering, marine, liability and other specialised risk segments. The move strengthens Santam’s existing presence in India, where it has provided capacity for over 10 years, and positions it as the first BRICS-based insurance company to establish operations in GIFT City.

The company stated that the expansion aligns with its international growth strategy and follows closely on the approval to launch a syndicate at Lloyd’s of London, further enhancing its global footprint.

Gujarat International Finance Tec-City has signed a Memorandum of Understanding with Arun Jaitley National Institute of Financial Management to collaborate on capacity building, academic engagement, and knowledge exchange in international finance, governance, and financial technology.

As part of the agreement, a five-day Industry Immersion Programme for second-year MBA students of AJNIFM has commenced at GIFT City. The programme provides exposure to regulatory frameworks, cross-border financial services, digital finance innovations, capital market operations, and institutional strategies.

The MoU also covers joint research, executive education, faculty exchanges, and knowledge platforms, supporting GIFT City’s focus on talent development and its growing role in global finance and FinTech.

XED Executive Development has filed draft papers to raise about US$12 million through an initial public offering, which is set to become the first IPO from Gujarat International Finance Tec-City (GIFT City) under the IFSC framework.

The issue is expected to open in the first week of March 2026 and will be available to eligible investors, including NRIs, FPIs, institutional investors, and other permitted overseas participants. The shares will be listed as dollar-denominated instruments on the NSE International Exchange and India International Exchange at GIFT City.

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.