Articles tagged under: GIFT

GIFT City’s residential development gets boost with fresh decision by Gujarat govt

March 10, 2021
GIFT City’s residential development gets boost with fresh decision by Gujarat govt

GIFT City Gandhinagar: In a significant move, which will boost development at GIFT City, Government of Gujarat has issued a resolution allowing those not working within GIFT City to reside in the City. Hitherto only those working in GIFT City could occupy residences there. Government has earlier relaxed the ownership condition by which any entity could develop and own residential property in GIFT City. With this relaxation both ownership and occupancy conditions are no longer restrictive and o...Read More

IFSC Authority issues final framework for aircraft leasing activities

February 20, 2021
IFSC Authority issues final framework for aircraft leasing activities

Gandhinagar: Final framework has been issued on Friday by IFSC Authority for aircraft leasing activities in IFSC. Tapan Ray, MD & Group CEO, GIFT City, "The framework on aircraft operating lease would pave the way for offshore leasing entities to serve India’s hinterland demand from GIFT IFSC. The incentives announced in the union budget 2021 coupled with the formation of the framework shows the commitment of the Government of India towards making GIFT IFSC a hub for aircraft leasing & fi...Read More

FM announces more tax incentives for IFSC in GIFT City

February 01, 2021
FM announces more tax incentives for IFSC in GIFT City

Gandhinagar: Finance Minister Nirmala Sitaraman today in her budget speech for financial year 2021-22 announced that the Government would support the development of a world class Fin-Tech hub at the GIFT-IFSC based at Gandhinagar in Gujarat. Making an announcement she said, "the Government is committed to make the International Financial Services Centre (IFSC) in GIFT City a global financial hub. In addition to the tax incentives already provided, I propose to include, among others, tax hol...Read More

GIFT City allots 10 lakh sq ft to Savvy Infrastructure for development

January 05, 2021
GIFT City allots 10 lakh sq ft to Savvy Infrastructure for development

Gandhinagar: GIFT City – India’s first operational smart city and International Financial Services Centre (IFSC), has allotted 10 lakh Sq. ft build up area (BUA) to Savvy Infrastructure Pvt. Ltd. for development of commercial, residential and social buildings in GIFT SEZ area. Savvy will develop around 5 projects and invest about Rs. 700 crores in this development. This will be in addition to the existing 23 storied commercial tower which consists of offices & Free Trade Warehousing Zone (FT...Read More

GIFT City Gujarat based INX signs MoU with Luxembourg Stock Exchange

November 19, 2020
GIFT City Gujarat based INX signs MoU with Luxembourg Stock Exchange

Gandhinagar: BSE’s international arm, GIFT City Gujarat based India International Exchange (India INX), has today announced its memorandum of understanding with Luxembourg Stock Exchange for development and promotion of ESG and green finance in the local market. In 2019, India INX unveiled its Green listing and trading platform. GSM Green serves as platform for fund raising and trading green, social and sustainable bonds exclusively. The platform of India INX is established as per ICMA’...Read More

GIFT City featured as background screen by PM Modi in India – Luxembourg virtual summit

November 19, 2020
GIFT City featured as background screen by PM Modi in India – Luxembourg virtual summit

Gandhinagar: The Prime Minister of India, Narendra Modi, and the Prime Minister of the Grand Duchy of Luxembourg, Xavier Bettel, today held the first-ever India-Luxembourg Virtual Summit. In Gujarat perspective, the background picture behind Prime Minister Modi was interesting and eye catching, as it was featuring Gandhinagar based GIFT (Gujarat International Finance Tec) City. GIFT City was chosen to be featured in the background in connection with one of three Memorandums of Understandin...Read More

Citi to set up IFSC Banking Unit at GIFT City Gujarat

September 14, 2020
Citi to set up IFSC Banking Unit at GIFT City Gujarat

Gandhinagar: U.S.-headquartered Citibank N.A (Citi) has recently received in- principle approval from Reserve Bank of India (RBI) and GIFT SEZ Authority to set up an IFSC Banking Unit (IBU) at GIFT City. The proposed commencement of the IBU by Citi, marks a significant development in India’s IFSC business and proves GIFT City’s mettle as a globally competitive international financial services centre at par with other established global financial centres across the world. This also marks a ma...Read More

HSBC to set up IFSC Banking Unit at GIFT City Gujarat

July 13, 2020
HSBC to set up IFSC Banking Unit at GIFT City Gujarat

Gandhinagar: The Hongkong and Shanghai Banking Corporation Limited (HSBC), one of the world’s largest financial services organizations has got in-principle approval from the GIFT SEZ Authority to set up an IFSC Banking Unit (IBU) at GIFT City, subject to other Regulatory approvals. The proposed commencement of the IBU by HSBC, marks a significant development in India’s IFSC business and proves GIFT’s mettle as a globally competitive international financial centre that is at par with other ...Read More

India’s IFSC Authority to be headquartered in Gandhinagar

April 28, 2020
India’s IFSC Authority to be headquartered in Gandhinagar

Gandhinagar: Government of India through a gazette notification announced that the International Financial Services Centres Authority will be headquartered in Gandhinagar, Gujarat. Please find attached the gazette notification (pdf) for your reference. Also appended below is quote of Tapan Ray, MD & Group CEO, GIFT City welcoming this development. "We welcome Government of India's decision to set up the IFSC Authority headquarters at Gandhinagar Gujarat. This will provide a single windo...Read More

Steering committee of World Gold Council holds meeting at GIFT City Gujarat

March 06, 2020
Steering committee of World Gold Council holds meeting at GIFT City Gujarat

Gandhinagar: Post the announcement in the Union Budget 2020-21 for setting up of International Bullion Exchange in GIFT IFSC, the steering committee of World Gold Council held their meeting today at Gujarat International Fin-Tec City (GIFT City). Among other things, one of the key points in the agenda was to discuss about developing a comprehensive plan for International Bullion Exchange. In addition, the committee discussed various aspects of instituting an ecosystem for an organized an...Read More

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