GIFT IFSC features among top 15 emerging global financial centres

NEW DELHI: Adding another feather to its cap, GIFT International Financial Services Centre (IFSC) has been ranked tenth in the latest edition of Emerging Global Financial Centres (GFCI), ahead of Luxembourg, Seoul, Abu Dhabi, Toronto and Beijing. The GFCI report lists 15 centers, which are likely to become more significant in the next few years.

Gujarat International Finance Tec-City, commonly known as GIFT, is a Government of Gujarat Project in partnership with IL&FS, aimed at developing India’s First Global Financial Hub.

“In a short span of two years, GIFT has been instrumental in unleashing and enhancing the international financial services potential of the country. We believe the recognition is due to the tremendous support and direction provided by Govt. of India through Ministry of Finance, Ministry of Commerce & by all regulators namely RBI, SEBI & IRDA. We at GIFT feel great pride to be featured in the same league as New York and Hong Kong,” said Ajay Pandey, MD & Group CEO, GIFT City.

GIFT IFSC is operational with approximately 10 leading banks, eight insurance companies and participating brokers, and two International Exchanges (India INX and NSE IFSC) along with around 100 capital market players having established their base at GIFT IFSC.