GUJARAT INTERNATIONAL FINANCE TEC-CITY (GIFT CITY)
A 15.5 square kilometer commercial area called Gujarat International Finance Tec-City (GIFT City) is being built in Gandhinagar, Gujarat.
It is the first international financial services center (IFSC) and greenfield smart city in operation in India.
The goal of GIFT City is to become a global center for technology and finance.
With its easy-to-use infrastructure and single-window certifications and permissions, it provides businesses with a quick and easy way to expand.
GIFT City, which includes a comprehensive development plan, is an 886-acre development situated on the banks of the Sabarmati River.
The city's 62 million square feet of built-up area are made up of a variety of commercial buildings, residential units, hotels, clubs, hospitals, schools, and recreational facilities.
The city’s composition includes 67% for commercial use, 22% for residential purposes, and 11% allocated for social facilities.
As the focal point of a tri-city plan, GIFT City is well situated between Gandhinagar and Ahmedabad, providing easy access to both cities within a half-hour's drive. The goal of this coordinated strategy is to establish a prosperous environment that benefits both locals and enterprises.
Special Economic Zone (SEZ): GIFT City operates as an SEZ, offering tax incentives and regulatory benefits.
International Financial Services Centre (IFSC): It includes India’s first IFSC, allowing financial institutions to operate globally with international standards.
Green Building Standards: Designed with a focus on sustainability, including energy-efficient buildings and green infrastructure.
Regulatory Framework:
Governance: Regulated by the Gujarat International Finance Tec-City Company Limited (GIFTCL) and supported by various Indian financial regulators.
Financial Regulations: Adheres to international financial regulations and standards, facilitating global business operations.
Economic Impact:
Job Creation: Expected to generate thousands of jobs in financial services, technology, and related sectors.
Investment: Attracts significant domestic and international investments in finance, technology, and infrastructure.
GIFT City represents a significant step in India’s ambition to enhance its global financial and technological capabilities, aiming to foster international business and investment.
