'GIFT City emerges as Global Hub for Int'l Finance':CEO in Davos

GIFT City is steadily positioning itself as a global hub for international finance, with a strong focus on large-scale employment generation, strengthening global capital flows, and fostering financial innovation, according to Sanjay Kaul, Group CEO and Managing Director of GIFT City.Speaking on the sidelines of the World Economic Forum (WEF) 2026 in Davos, Kaul underscored the critical role played by the International Financial Services Centre (IFSC) in India’s journey towards becoming one of the world’s leading economies.
Highlighting the significance of India’s presence at Davos, Kaul said the forum provides a unique opportunity to engage directly with C-suite executives and business leaders from some of the world’s most influential corporations. “We see it as a very important forum where two things happen. One, we present to the world India’s financial services centre. Two, we showcase what India has to offer and how global players can come and set up business here,” Kaul said.He added that such engagement is essential from a national perspective, ensuring that India is globally recognised as a credible economic power with a sophisticated and globally competitive financial ecosystem.

At Davos, interest in GIFT City was overwhelming. Inquiries poured in from global fintech firms, fund managers, banks, manufacturing and insurance companies, many exploring GCC setups in Gujarat, India.

Bilateral engagements highlighted India’s strong economic growth story and… pic.twitter.com/ba1PHZ9VpI

— GIFT City (@GIFTCity_) January 19, 2026

Kaul revealed that the GIFT City team has lined up around 30 bilateral meetings over three days at Davos, with strong interest emerging from a wide range of global financial and non-financial entities.Reflecting on the rapid progress made by GIFT City, Kaul noted that the project is still relatively young. “Technically, we are just four years old since operations began. When we started, we were not among the top 100 financial centres globally. Today, we are ranked 43rd. Reaching 43 in just four years is a significant achievement,” he said.Currently, GIFT City supports employment for about 27,000 people. Kaul stated that the workforce is expected to expand sharply, with a clear target of generating 100,000 jobs by 2030, driven by India’s robust economic growth and rising global interest in the IFSC framework.
The city has already attracted several major international players across banking, fund management, and leasing. Global financial giants such as JP Morgan and Morgan Stanley have established operations, along with 18 international foreign banks and subsidiaries of Indian market infrastructure institutions like the NSE and BSE.Beyond conventional financial services, GIFT City has also seen the entry of bullion exchanges, aircraft leasing firms, and IT and ITeS companies. Kaul said the presence of entities across such diverse segments highlights the comprehensive and integrated ecosystem being developed at the IFSC.
On business performance, Kaul pointed out that indicators such as registration momentum and sustained global interest are more meaningful measures of success than turnover alone. As of the end of September, asset holdings of banks at GIFT City stood at around USD 110 billion, while monthly trading volumes on the exchanges averaged about USD 69 billion. However, he emphasised that the steady flow of new registrations remains the most telling sign of the hub’s growing global relevance.With strong policy support, rising international participation, and ambitious employment targets, GIFT City is increasingly emerging as a cornerstone of India’s global financial aspirations.

(State Correspondent)