GIFT City

GIFT City
City
Gujarat International Finance-Tec City
Drone view of GIFT City
Drone view
Night view of GIFT City
Night view
Brigade International Financial Centre, GIFT City
BIFC
TIER - IV Data Centre, GIFT City
TIER - IV Data Centre
GIFT One & Two Tower
GIFT One & Two Tower
GIFT One Tower
GIFT One Tower
BSE Brokers Forum, GIFT City
BSE Brokers Forum
Official logo of GIFT City
Map
Map
Map
Map
Map
Map of GIFT City
Country India
StateGujarat
DistrictGandhinagar
Administrative division
MetroAhmedabad Metro
Establishment10 April 2015
Founded byNarendra Modi
Government
 • BodyGujarat International Finance Tec-City Company Limited
Area
 • Total
15.5 km2 (6.0 sq mi)
Language
 • OfficialGujarati, Hindi, English
Time zoneUTC+5:30 (IST)
Pincode(s)
382426
Area code091
Websitewww.giftgujarat.in Edit this at Wikidata

Gujarat International Finance Tec-City, also called GIFT City, is a central business district under construction in the Gandhinagar district as suburb city of Ahmedabad in Ahmedabad Metropolitan Region in Gujarat, India. It is India's first operational greenfield smart city and international financial services centre, which the Government of Gujarat promoted as a greenfield project. In 2020 GIFT IFSC bagged 10th place in Finance Industry and top rank in emerging financial centres in the Global Financial Centres Index.[1][2] As of June 2023, it is home to 23 multi-national banks, including HSBC, JP Morgan, and Barclays. Furthermore, it includes 35 fintech entities, two international stock exchanges with average daily trading volumes of $30.6 billion, as well as India's first international bullion exchange with 75 onboarded jewellers.[3][4]

The city is located on the banks of the Sabarmati River and is around 12 km (7.5 mi) from Sardar Vallabhbhai Patel International Airport.[5][6][7][8] The city is designed so residents can walk to work, and includes commercial, financial and residential complexes. The city is connected through 4-6 lane state and national highways. A metro station is also planned[clarification needed] for construction, which would connect GIFT City to the Ahmedabad Metro network. This is expected to be completed by March 2024.[9][10] The total area for the development of GIFT is 359 hectares (886 acres) out of which the special economic zone (SEZ) constitutes 106 hectares (261 acres). The project area under development can hence be classified under the SEZ area and the non-SEZ area (also known as the Domestic Tariff area or the DTA).[11]

With the opening of the first campuses of two Australian universities on 7 November 2023 in the presence of Indian counterpart Dharmendra Pradhan and Australian Education Minister Jason Clare, GIFT City is beginning to establish itself as the centre of foreign universities in the nation.[12]

  1. ^ Reporter, B. S. (3 October 2017). "GIFT City's IFSC bags 10th place in Global Financial Centres Index". www.business-standard.com. Archived from the original on 22 April 2023. Retrieved 22 March 2023.
  2. ^ S, Rajalakshmi (2 October 2017). "GIFT-IFSC ranks at 10th place in Global Financial Centres Index". www.thehindubusinessline.com. Archived from the original on 22 April 2023. Retrieved 22 March 2023.
  3. ^ "Why Google Chose Gujarat For Its Global Fintech Operations Hub". Forbes India. Archived from the original on 29 June 2023. Retrieved 29 June 2023.
  4. ^ "Google To Set Up A Centre In GIFT City — Will This Boost The Fintech Ecosystem In India?". Forbes India. Archived from the original on 26 June 2023. Retrieved 26 June 2023.
  5. ^ "THE GUJARAT INTERNATIONAL FINANCE TEC-CITY (GIFT)". www.gudcltd.com. Archived from the original on 9 June 2019. Retrieved 2 February 2018.
  6. ^ "GIFT makes steady progress; witnesses a 'hockey stick growth curve'". www.businesstoday.in. 17 January 2018. Archived from the original on 25 June 2018. Retrieved 1 November 2018.
  7. ^ Subramanian, N. Sundaresha (1 February 2018). "More gifts for GIFT City may stop flight of capital to Singapore". The Economic Times. Archived from the original on 24 June 2018. Retrieved 2 February 2018.
  8. ^ "Developments of Gandhinagar". Archived from the original on 31 December 2019. Retrieved 14 September 2018.
  9. ^ "Gujarat International Finance Tec-City to have its own metro stations". The Times of India. Archived from the original on 5 November 2013. Retrieved 3 January 2017.
  10. ^ "Ahmedabad- Metro Rail: Work on phase 2 of the project to begin in June 2020; details". The Financial Express. 18 November 2019. Archived from the original on 19 November 2019. Retrieved 23 January 2020.
  11. ^ Rodrigues, Jeanette; Sircar, Subhadip (29 November 2022). "India's Free-Market Oasis Aims to Take On Singapore and Dubai". Bloomberg News. Archived from the original on 29 November 2022. Retrieved 29 November 2022.
  12. ^ Langa, Mahesh (7 November 2023). "Two Australian Universities open in GIFT City". The Hindu. Retrieved 7 November 2023.