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GIFT City’s surge past $100 billion turnover mark: Gujarat CM Patel

Positioning India as a competitive global financial hub, Gujarat’s GIFT City has recorded rapid growth in financial activity and international participation, prompting Chief Minister Bhupendra Patel to describe it as a “vibrant reality driving economic growth.” The Chief Minister said the project, envisioned by Prime Minister Narendra Modi during his tenure in Gujarat, has evolved from an initial concept into a fully operational international financial hub. “GIFT City stands today as a powerful testament to India’s rising stature in the global financial ecosystem. What began as a bold and futuristic idea has now developed into a fully operational international financial hub, placing Gujarat and India firmly on the world map of finance and innovation,” Patel said.
The GIFT city now hosts more than 1,150 registered entities and a banking ecosystem exceeding USD 100 billion, with monthly exchange turnover also crossing the USD 100 billion mark. Patel said this scale reflects increasing global participation and growing trust in India’s financial infrastructure. Patel also underlined the employment potential generated by the project, noting that it is creating thousands of high-quality jobs, particularly for young professionals in finance, technology, and allied sectors.

Gujarat International Finance Tech-City is home to India’s first operational International Financial Services Centre, overseen by a unified regulator that streamlines governance across banking, insurance, capital markets, and fund management. The centre offers tax incentives and simplified regulations, attracting a diverse range of global and domestic players, including banks, insurance companies, fintech firms, and fund management entities.

(State Correspondent)


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