Gujarat’s GIFT City is set to be India’s Moneyball!
As it is India’s only international fintech centre, it has attracted massive investments from investors.
GIFT city stands for Gujarat International Finance Tec-City which spreads across 1000 acres and is envisioned at the global standard of Singapore and Dubai.
Today, 26,000+ people work inside the GIFT city’s offices of 580 entities.
These include 3 exchanges, 25 banks (9 foreign banks), 29 insurance entities, 2 foreign universities, 26 aircraft lessors, 40 fintech entities and more than 50 professional services providers.
Here are 7 brands who have said to invest in Gujarat’s GIFT City:
1. Japan’s Mizuho Bank is setting up an IFSC banking unit.
2. UAE’s Transworld Group of Companies plans to start aircraft and ship leasing.
3. UAE’s sovereign wealth fund will soon launch operations there.
4. ONGC Videsh will set up a finance company for treasury operations.
5. IT majors Wipro and Accenture plan to set up offices in the city soon.
6. SBI and HDFC Bank have set up offices with foreign players like HSBC and Deutsche Bank.
7. Google, Paytm and LIC have proposed investments too.
Now, GIFT City’s total banking assets are estimated at more than $52 billion and 80 funds have $25 billion in committed investments.
Finance Minister Nirmala Sitaraman said this city may be the gateway to more foreign investments in India by 2047.
The GIFT city will surely set new benchmarks in innovation, efficiency and global collaboration.
GIFT city chairman also said they are working on a second phase with 2,000-3,000 acres of land that will be for residential purposes and driven by private investors with top infrastructure support.
This city will bring a positive transformation in the flow of foreign investments which will create a huge amount of opportunities for business owners and founders.
Can GIFT City become India's path of new funds?
Which brand do you see investing there?
#brand #india #business #investing #fintech