The Gujarati government collaborated with more than a thousand businesses to present GIFT City's potential to investors worldwide

 The Gujarati government collaborated with more than a thousand businesses to present GIFT City's potential to investors worldwide

The Gujarati government collaborated with more than a thousand businesses to present GIFT City's potential to investors worldwide

GIFT City is the first operational smart city in India, spanning 886 acres and equipped with international banking, insurance, and capital markets infrastructure. With a $1.57 billion committed investment, it employs 10,000 specialists.

The leaders spoke about the government's plans for GIFT IFSC and explored several avenues for establishing their units and/or growing their companies there.

Gujarat International Finance Tech-City (GIFT City) in Gandhinagar has been a priority area ahead of the Vibrant Gujarat Global Summit. The state government has arranged road shows and delegation meetings with over 1,000 corporations to portray GIFT City as a significant investment destination. is positioning itself as. stated officials.

GIFT City is the first operational smart city in India, spanning 886 acres and equipped with international banking, insurance, and capital markets infrastructure. With a $1.57 billion committed investment, it employs 10,000 specialists.

Global businesses from the United Arab Emirates, Japan, Australia, Singapore, and the United States have made GIFT City a major emphasis area ahead of the Vibrant Gujarat Global Summit (VGGS), which will take place in Gandhinagar from January 10–12, 2024. Regarding investigating investment potential at the GIFT International Financial Services Center (GIFT IFSC), government authorities said as much.

According to a government announcement, the state government has led VGGS on delegation visits and six foreign and eight local road shows to investigate investment prospects, resulting in numerous significant investments already made in GIFT City. worked with more than a thousand businesses.

The leaders spoke about the government's plans for GIFT IFSC and explored several avenues for establishing their units and/or growing their companies there.

"During these meetings, various international companies from countries such as UAE, Japan, Australia, Singapore as well as the US showed that they wanted to explore investment opportunities in GIFT IFSC," according to the announcement.

According to the report, the state government has inked a number of Memorandums of Understanding (MoUs) with prominent Australian businesses in an effort to establish strategic alliances in the digital technology space and establish financial sector enterprises inside Gujarat's GIFT IFSC.

Prime Minister Narendra Modi recently said in a speech that India is among the fintech markets with the highest rate of growth in the world and that the nation's fintech capabilities complement the goals of GIFT IFSC.

"GIFT City has the potential to develop into a fintech laboratory and a gateway to the global fintech world," he said.

The Prime Minister said that GIFT City aims to become a worldwide center for cutting edge financial and technological services.

Gujarat's chief minister, Bhupendra Patel, described Gift City as an immeasurable gift from Prime Minister Modi. He credited Modi's imaginative leadership for bringing GIFT City to life.

He said, "GIFT City, our Prime Minister Narendra Modi's dream project, is rapidly becoming into a center for global financial services. Gujarat has received an excellent gift from our Prime Minister in the form of GIFT City."

Patel claims that Gujarat's future-ready megaprojects like GIFT City, Dholera SIR, Dream City, Greenfield Ports, and Ahmedabad-Mumbai High-Speed Rail (Bullet Train) have contributed to the Prime Minister's vision of a developed India. have begun to contribute. ) endeavor.

$50 billion worth of bonds have already been posted on the GIFT City IFSC markets, and the government is developing plans to draw in additional companies with a range of tax breaks, such as a $100 billion tax exemption for ten years in a row. A recent ruling and the exemption from percentage tax. Permit alcohol in order to give it a "global ecosystem".

Based on PM Modi's Tri-City idea, Tapan Ray, MD and Group CEO of GIFT City, said that the city symbolizes the future of not just Gujarat but the whole nation.

As you are aware, our honorable prime minister has a dream of a city called Gift City. And he had a pretty original idea. According to him, it is a component of the tri-city idea that includes Gandhinagar and Ahmedabad. Additionally, gift cities exist, Ray said PTI.

"Exciting idea. In all of our road shows for Vibrant, we are seeing that GIFT City symbolizes the future of Gujarat and all of India," the speaker said.

The State Government thinks that businesses in industries like banking, finance, IT and ITES, fintech, capital markets, insurance, automotive, engineering, pharmaceuticals, e-commerce, ship and aircraft leasing, and supporting services will be able to operate in GIFT City thanks to the ecosystem that has been established for essential economic activities combined with globally benchmark regulations, taxes, and policies, etc.

CM Patel spoke about the state government's plans to link GIFT City to a metro train system by July 2024 in a recent address. It intends to erect a 24-story structure as part of its ongoing expansion, giving professionals and workers who visit GIFT City a valuable facility.

Additionally, the Sabarmati riverside near GIFT City would be extended by the government across a 9-kilometer stretch. It has approved the building of more residential units in GIFT City, and before to VGGS 2024, the Phase-2 development plan for GIFT City will be revealed.

The preparation of town planning plans will be included in the development plan.

According to the CM, GIFT City's environs would see the construction of a sizable township that will be integrated with all social infrastructure amenities.