With notable improvements in several categories in the most recent edition of the Global Financial Centers Index (GFCI 37), Gujarat International Finance Tec-City (GIFT City), India’s first operational smart city and first International Financial Services Center, has further solidified its status as a growing global financial hub. GIFT City has made great progress in establishing itself as a leading global financial hub, rising from 45th to 40th in the FinTech rating, improving its overall position from 52nd to 46th, and securing the top spot in Reputational Advantage. It has also maintained its ranking as one of the top 15 financial hubs in the Asia-Pacific area.
The fact that GIFT City performed well in the GFCI 37 rankings is indicative of its increasing investor trust, repute, and contribution to financial innovation. While its top spot in Reputational Advantage shows the growing international recognition of its business-friendly ecosystem, strong regulatory framework, and top-notch infrastructure, the FinTech ranking improvement highlights its emergence as a thriving hub for financial technology.
“GIFT City’s continuous ascent in the GFCI rankings is a reflection of India’s growing influence in global finance,” stated Mr. Tapan Ray, Managing Director and Group CEO of GIFT City. Our great overall performance, notable advancements in FinTech, and top ranking in Reputational Advantage all serve to bolster the trust that international firms and investors have in GIFT City. In order to establish GIFT City as a preeminent global financial center, we are still dedicated to improving our infrastructure, talent ecosystem, regulatory framework, and ease of doing business.
Z/Yen Group created the Global Financial Centers Index (GFCI), which assesses financial centers across the globe using 140 instrumental criteria supplied by outside organizations like the United Nations, the World Bank, and the Organization for Economic Co-operation and Development (OECD). These elements evaluate financial centers according to criteria such as overall competitiveness, infrastructure, human capital, business environment, and financial sector development.
“GIFT City keeps growing as a global financial hub, helped by the ongoing expansion of trade in the Asia-Pacific area and particularly strong in its business environment.” stated Z/Yen Group CEO Mike Wardle.
According to the GFCI 37 report, 119 of the 133 financial centers that were assessed from around the globe made it to the main index. The research emphasizes the gradual ascent of new financial centers, with GIFT City’s ongoing development supporting its goal of becoming a top international financial destination.
About GIFT City
A global center for financial and IT services, GIFT City is India’s first operational smart city and the country’s first International Financial Services Centre (IFSC). It is intended to be on par with or better than business districts that are benchmarked internationally. Global and domestic businesses in BFSI, IT/ITeS, fintech, international education, and other service sectors choose GIFT City because it is a premier Central Business District (CBD) with many benefits, including lower operating costs, favorable tax laws, and a thriving community.
A true “walk-to-work” atmosphere, GIFT City is a “Project of National Importance” that includes office buildings, residential neighborhoods, a school, a hospital, hotels, clubs, shops, and recreational amenities. New benchmarks in urban development have been set by GIFT City’s innovative and sustainable solutions, like the Utility Tunnel, Automated Waste Collection System, and District Cooling System.
