Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
Will the Gujarat International Finance Tec-City (GIFT) rival the planned financial hub of Mumbai or will GIFT be complimentary to and a feeder to its Mumbai counterpart?
Prime Minister Narendra Modi is promoting India as a global hub for digital infrastructure and artificial intelligence, highlighting the government's incentives for data center investments and inviting the world's data to reside in India.
'Solutions developed in India are being commercialised and offered globally because we're executing at scale, creating new markets and revenue streams.'
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
A Financial Times report says that Tokyo, Sydney or Singapore could be the probable targets.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
The International Financial Services Centres Authority (IFSCA) has cleared a series of regulatory relaxations to ease operations for fund managers in GIFT City, along with a revamped framework for global in-house centres (GICs) and capital market intermediaries.
Asia takes the lead, boasting four Indian cities on the list, according to the 2024 Savills Growth Hubs Index.
Congestion on Mumbai roads has become chronic.
The government is developing ports across the country as centres for green hydrogen production and export, Sarbananda Sonowal, minister of ports, shipping and waterways (MoPSW) said on Tuesday. "Across the country, over 12 million tonnes of green hydrogen-based e-fuel capacity has been announced.
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
In a world fractured by uncertainty, India stands out for its policy consistency, paired with sustained ambition, points out Pritam Banerjee.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
Lining up its 2030 strategy, Hyundai said it was targeting up to 30 per cent export contribution and over 1.5-fold rise in revenue, to cross the 1 trillion milestone in five years.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
The Lokapriya Gopinath Bardoloi International Airport in Guwahati has inaugurated a new nature-themed terminal building, designed to handle 13.1 million passengers per year and serve as a key aviation hub for the northeast and a gateway to Southeast Asia.
External Affairs Minister S Jaishankar asserts India's right to defend against terrorism from 'bad neighbours' while highlighting India's support for friendly nations.
Nearly three decades after the ambitious project was first conceived to decongest the existing airport in the financial capital, the greenfield Navi Mumbai International Airport became a reality on Thursday as an IndiGo Airbus A320 from Bengaluru landed on the tarmac at 8 am amid a traditional water cannon salute.
India's $280-billion IT industry heads into 2026, balancing visa-related headwinds and global trade uncertainty against its biggest-ever push into artificial intelligence and the rapid expansion of global capability centres (GCCs). Heightened scrutiny of the US H-1B visa programme - including a proposed $100,000 fee for new visas and concerns over a potential 25 per cent outsourcing tax - has complicated cross-border delivery for Indian firms, even as companies accelerate efforts to reduce reliance on onsite staffing.
Prime Minister Narendra Modi inaugurates the Navi Mumbai International Airport and a portion of the Mumbai Metro Line, marking significant improvements to transportation infrastructure in Mumbai.
Although most high-frequency traders (HFTs) prefer to set up shop close to stock exchanges to enjoy better latency, a few are willing to sacrifice proximity to save a few bucks. Two HFTs have already established their offices at the GIFT City (Gujarat International Finance Tec-City) IFSC while many more are likely to follow suit.
Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
Government will create conducive environment for fund managers: CM
Prime Minister Narendra Modi on Wednesday asked the Congress to tell the nation who prevented India's military response after the 26/11 Mumbai terror attacks linked to Pakistan, and accused the party of weakening the fight against terrorism when in power.
Overall hiring volumes grew by 17 per cent year-on-year across key consumption-linked sectors during the August-October period, driven by heightened consumer sentiment, attractive festive promotions, and wider geographic penetration, according to a report.
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.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
'The elimination of terrorists does not imply the neutralisation of terrorism. That terrorist ecosystem continues to thrive in Kashmir.'
Prime Minister Narendra Modi criticized the RJD's past education policies in Bihar, attributing migration to the state's poor education system under their rule. He praised the current NDA government's efforts to improve education and development, launching several initiatives focused on youth skilling and education in the state.
The Jane Street-Sebi saga is more than a legal dispute -- it's a litmus test for India's ambitions as a global financial hub.
The government has identified 50 public-private partnership (PPP) projects worth over Rs 60,000 crore, significantly surpassing the original targets of the National Monetisation Pipeline, said Ports, Shipping, and Waterways Minister Sarbananda Sonowal at the Business Standard Infrastructure Summit on Thursday.
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
There is a need to have a 'CEO for Mumbai' in order to realise the ambition of making it a global financial centre.
Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to develop solutions for global Banking, Financial Services, and Insurance (BFSI) clients.
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