The Gujarat International Finance Tec-City project in near-coma It was once seen as Gujarat Chief Minister Narendra Modi's reply to then counterpart Vilasrao Deshmukh's plans for a finance city in Mumbai.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
GIFT city has two components of development - domestic financial centre and international financial services centre.
Trading in other derivative products in currency, commodities expected to begin soon.
The new exchange will also help global companies raise finance from other overseas investors.
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
The project will see remote management of all the utilities from a single city command.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
Some of projects, especially in infrastructure, have seen quite a few unexpected delays.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
Revenue foregone on account of corporation tax exemptions is estimated to grow by 16 per cent in 2018-19 (FY19) versus 8.7 per cent in the previous year and 12 per cent in 2016-17, show the Budget documents.
Gujarat Chief Minister Narendra Modi was the Chief Guest at the event.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
GIFT is a financial centre almost entirely devoid of bankers and, indeed, of people.
"We have signed an MoU with Cisco to make an investment in GIFT and help us evolve our technology platform. The American giant is likely to invest over $2 billion in the project," a top government official of GIFT said. Cisco is also expected to pick up some stake in the project. However, the details are still being worked and it will take about three-four months to finalise the deal, the official added.
The Budget will focus on Gujarat's GIFT City.
Did men and women of redoubtable experience and public service, upholders of the country's steel frame and paragons of corporate governance, never smell a rat?
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
Work on projects worth Rs 1,000 cr in full swing: Gift City
Finance Minister Arun Jaitley on Monday said state governments should emulate the concept of 'Gujarat International Finance Tec-City'
Sebi has approved the norms for financial institutions setting up shop at GIF City in Ahmedabad.
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Some experts believe that building new cities may not be the answer to India's swelling urban population.
Resettlement of 12,000 families living on banks of Sabarmati Riverfront cost Ahmedabad Municipal Corporation about Rs 1,200 crore
New exchange will provide an electronic platform for trading.
Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers.
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
Airports and hotels are among the smartest buildings.
States to give choices, Centre to decide by year-end.
India's exports to China stood at $7.56 billion during the period whereas the imports have jumped to $52.26 billion in April-January
Inter-ministerial programmes have run into obstacles as rules written by bureaucrats hamper rather than promote investments.
Finance firms in these SEZs likely to get tax breaks.
A policy-related problem that urgently needs to be redressed is the 'miniaturisation' of projects.
Percy Mistry says things at market regulator Sebi are also in bad shape.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
BSE is world's largest exchange in terms of listed companies and figures among top 10 globally on various other parameters.
The government is looking at building by-laws and floor area ratio so that you can build up instead of out, thus requiring less land.
Instead, increases in foreign-direct-investment levels; and reforms to make labour, land and capital more mobile.
Since many of Modi's urban policies were initiated in Ahmedabad, the city may act as a template to examine what can be expected in a country that is witnessing the biggest migration from rural to urban areas in the world
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