Todays Special

The Gift City

The Gift City



An emergent India represents a bright beacon on the shores of financial growth. GIFT (Gujarat International Finance Tec-City), India’s first International Financial Services Centre, embodies this vision with conducive multi-service SEZ and an exclusive domestic zone. A Fully integrated city with a walk to work culture, it has the next-in-class infrastructure, connectivity, people, technology and legal framework – emerging as a platform for businesses across the world.

GIFT City is emerging as the new financial capital of the world’s financial capitals.



  • Creation of an estimated 500,000 direct jobs and an equal number of indirect jobs.
  • Providing financial incentives, regulatory freedom and world-class infrastructure.
  • World class infrastructure and unparalleled connectivity and transportation access.
  • Strict adherence to environmental norms, with built-in technologies for a sustainable ecosystem.


National and international hub of IT and ITeS companies, finance companies, commodity exchange, global trading, insurance, offshore banking and data centers among others.

The Growth of India’s Financial Services / ITeS Sector :

The last decade has seen unprecedented growth in India’s financial services sector. It employs over 3 million people, constitutes about 5% of the GDP and has an estimated market capitalization of over US$ 200 billion. As India experiences continued economic growth, the financial sector could generate about 10-11 million jobs and a GDP contribution of US$ 350 to 400 billion by 2020. With a sustained growth and rapid development in technology and infrastructure, an increasing share of financial services would get centralized. McKinsey & Company’s market assessment report estimates potential of about 6 million centralized jobs across multiple service roles.

Several developed countries have successfully established high-tech financial hubs, which over time have catered as international financial services centers. These centers provide suitable regulatory regimes and create a business environment to promote talent and increase capital flow. As they develop they create significant economic value for their domestic economies, e.g. London and New York account for 10% of the GDP and about 5% of jobs. Emerging financial services centers like Singapore and Hong Kong have achieved similar levels of concentration of economic activity over short periods of time.

GIFT’s Positioning :


Financial Services Back-office of banking, Insurance and Asset Management
Financial Services Corporate roles in financial services companies. E.g. Accounting, HR, Admin, IT.
Select Product Market Private banking, Product development, Microfinance etc.
Capital Market & Trading Includes DCM, ECM, M&A, Commodity trading, Private Equity, Hedge Funds, Institutional Brokegage
IT Services Software Application development and maintenance for BFSI and other verticals
ITes/ BPO Services Captive BPOs of large global financial services companies, 3rd party BPO service providers KPOs etc.





The vision for Gujarat International Finance Tec-City (GIFT) was laid out by Prime Minister Narendra Modi long before his party took change at the Centre. Last month, both the Reserve Bank of India and SEBI came out with guidelines that would enables institutions in GIFT City to work like international branches.

In GIFT City we have two areas – domestic and international. Any institution can set up business in the domestic centre and avail global quality infrastructure. Already, 14 lakh square feet of office space has come up in the domestic area. Further, out of total area of 886 acres, 261 acres is dedicated for a multi-services special economic zone, which is also notified as an International Financial Services Centre (IFSC). From the beginning, GIFT has been envisaged as an IFSC to draw participation from domestic and international finance institutions. Although the notification as IFSC came in December 2011, the operating guidelines by regulators were not issued. Fortunately, under the new government the finance minister actively took up this because they thought that India is losing a lot of business to Singapore and other countries. SEBI and RBI have come out with guidelines and IRDA is expected to follow soon.

GIFT is an under – construction central business district in the Indian state of Gujarat. It will be built on 886 acres of land. Its main purpose is to provide high quality physical infrastructure like electricity, water, gas, district cooling, roads, telecoms and broadband, so that finance and tech firms can relocate their operations there from Mumbai, Bangalore, Gurgaon etc. It will have a special economic zone (SEZ), International Education Zone, Integrated townships, an entertainment zone, hotels, a convention centre, an international techno park, Software Technology Parks of India units, shopping malls, stock Exchanges and service units.

To develop and implement the project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS) have established a Joint Venture company. “Gujarat International Finance Tec-city Company Limited (GIFTCL). The estimated cost of the entire project is Rs. 70000 crore.

GIFTCL proposes to implement GIFT with an eventual built on area of 85000 sq ft. The company plans to develop, finance, and implement all infrastructure in and around GIFT on a turnkey basis to ensure that all conceivable services in relation to connectivity, communication, technology, security, services for quality of life etc. are established and sustained. Currently, two 29-floor commercial towers have been completed with development of truck infrastructure now underway for further development.