PM Narendra Modi initiated the idea of GIFT City way back in 2008 when he was serving as the CM of Gujarat. As quoted by him, “the vision of the country’s future is connected with GIFT City. It is also connected to the dreams of India’s golden past… GIFT City was an idea ahead of its times.”
The aim is to make GIFT City a global gateway. GIFT must emerge as a global laboratory for the fintech sector. It is already making a mark for itself in commerce as well as technology. It is envisioned to be a leader in financial technology, data security and finance. GIFT City is competing well with renowned financial centres in London, Singapore, Tokyo, Paris and Dubai. The city is spread over 886 acres in Gandhinagar which houses a multi-service Special Economic Zone (SEZ) which has India’s first and only International Financial Services Centre (IFSC) and a separate Domestic Tariff Area (DTA).
Along with strengthening the financial transactions, the vision is also that of innovations in aircraft leasing, ship financing, carbon trading and digital currency. GIFT City aspires to be a place which boasts of ease of operations with water-tight regulations and high standards for the rule of law.
Add a Comment