1 week ago
GIFT City Emerges as India’s International Financial Centre
GIFT City is a new financial hub in Gujarat, India.
It helps banks, companies, and investors do business across countries.
HSBC’s Sandeep Batra said it has grown quickly in only a few years.
More than 1,200 businesses and other players now work there.
People can use services such as multicurrency accounts and international investments.
Companies also use GIFT City for aircraft leasing, ship financing, and trade.
The city is adding hotels, social facilities, and other infrastructure.
Batra believes it can eventually become a truly global financial centre.
HSBC’s Sandeep Batra said GIFT City has experienced rapid growth over the past four to five years.
More than 1,200 players now operate in the GIFT City ecosystem, according to Batra.
Businesses there include FCNRB deposits, aircraft leasing, vessel financing, trade, and treasury centres.
Residents and non-residents can open multicurrency accounts and access global investment products through GIFT City.
Batra said GIFT City remains more closely linked to India but is expected to become more international over time.
- Who
- Sandeep Batra, HSBC’s head of international banking, discussed GIFT City with NDTV Editor-in-Chief Rahul Kanwal.
- What
- GIFT City is expanding as a financial hub offering banking, investment, leasing, financing, and trade services.
- Where
- Gujarat International Finance Tec-City, or GIFT City, in Gujarat, India.
- When
- During an NDTV Walk The Talk interview; the article does not state the date.
- Why
- Its ecosystem is growing as more financial businesses, investors, and international banking services move there.
Key facts
- Location
- Gujarat, India
- Current scale
- More than 1,200 players operate in the GIFT City ecosystem.
- Growth period
- HSBC received one of the first IFSC licences four to five years ago, according to Batra.
- Key programme
- GIFT City has become a major centre for the FCNRB programme.
- Financial services
- Services mentioned include multicurrency accounts, global investments, aircraft leasing, vessel financing, trade, and treasury centres.
- HSBC presence
- HSBC recently moved a senior officer from Mumbai to GIFT City.
- Infrastructure
- Hotels, social infrastructure, fitness, and other facilities are developing in the city.
Quotes
Sandeep Batra
HSBC executive who heads international banking
“Clearly, this is India's international financial centre at this point in time. I think the affinity is a lot more Indian. I think it is a matter of time; this will go beyond.”
NDTV
“It's still early days, but it's been a rapid growth.”
NDTV
Sources
Related news
Edelweiss Expands GIFT City Funds for India and Overseas Investment
Gujarat CM Pitches GIFT City as Global Capital Gateway
UCO Bank launches IFSC Banking Unit at GIFT City
Gujarat sets 39% for capital spending, highlights GIFT City growth
India and BVI Build Financial Infrastructure for Global Growth
Gujarat CM Seeks Global Investment, Technology Partnerships in US Visit
India’s Manufacturing Growth Slows to Five-Year Low in August
HUL Shares Hit 52-Week Low Despite Brokerage’s 24% Upside
India’s Top Midcap Funds Take Divergent Portfolio Positions
India’s Economy Shows Resilience, But Risks Remain
Nirlon’s Strong Cash Flow Faces 2027 Debt Repayment Test
