GIFT City grabs global attention as investors flock for first movers' advantage
Gujarat's GIFT City, an international financial hub, is witnessing a surge in interest from global investors eager to seize the first movers' advantage. The city, envisioned as a world-class business district catering to both global and domestic enterprises, aims to establish itself as a benchmark for finance and technology hubs globally.
Strategic Investments during Vibrant Gujarat Global Summit
The ongoing Vibrant Gujarat Global Summit has become a focal point for significant investments in GIFT City. The Abu Dhabi Investment Authority, during the summit, announced the establishment of a unique sovereign fund within GIFT City. APEX Group, a prominent fund administrator, has also chosen GIFT City as its base for fund administration and accounting services, with plans to employ approximately 1,000 people over the next three years.
Mizuho Bank, marking a significant milestone, becomes the second Japanese bank to establish an IFSC Banking Unit in GIFT IFSC. Deakin University, inaugurating its campus in GIFT City, becomes India's first foreign-based university campus. The Education Centre of Australia has expressed interest in becoming an academic infrastructure service provider in GIFT City, potentially bringing leading foreign universities to the city.
Global FinTech Leadership Forum at Gift City
Diverse ventures and global players set to contribute
Transworld Group has unveiled plans to engage in ship leasing and aircraft leasing activities in GIFT IFSC, and Accenture is expressing interest in establishing its presence in GIFT City. Stonex Group is gearing up to set up a bullion trading desk in GIFT City IFSC, further diversifying the city's financial landscape.
Prime Minister Modi's involvement and fintech leadership forum
As part of the Vibrant Gujarat Global Summit 2024, Prime Minister Narendra Modi actively participated in the Global Fintech Leadership Forum held in GIFT City. The forum witnessed the presence of chairmen and CEOs from 26 prominent fintech companies globally. PM Modi received recommendations from industry leaders to elevate GIFT City to international standards and position India as a leading fintech country.
Attended the Global FinTech Forum at GIFT city today. It was a great convergence of brilliant minds in finance & technology, discussing innovative solutions for the digital economy. It is truly exciting to see how FinTech is reshaping our world. pic.twitter.com/8XJD97BXiI
— Narendra Modi (@narendramodi) January 10, 2024
PM Modi invites global investors to align with India's vision
Prime Minister Narendra Modi, addressing the forum, emphasized the transformative impact of fintech on the global economy. He extended an invitation to industrialists to invest in GIFT City, aligning with the vision of making India a global leader in the financial sector. Hasmukh Adhia, Chief Advisor to the Chief Minister of Gujarat, and Chairman of GIFT City provided insights into the purpose behind organizing the Global FinTech Leadership Forum, moderated by renowned businessman Uday Kotak.
Vibrant Gujarat Global Summit 2024 - Gateway to the Future
The 10th edition of the Vibrant Gujarat Global Summit 2024, inaugurated by Prime Minister Narendra Modi, carries the theme 'Gateway to the Future.' The summit boasts the participation of 34 partner countries and 16 partner organizations. Additionally, it serves as a platform for the Ministry of Development of the North-Eastern Region to showcase investment opportunities in the North-Eastern regions.
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