Gujarat International Finance Tec-City (GIFT City) has achieved significant growth as India’s first International Financial Services Centre (IFSC), marking a major step in strengthening India’s footprint in global finance and smart urban development. The world-class integrated financial and technology hub now houses over 1034 registered entities representing banking, capital markets, insurance, fintech, aircraft & ship leasing, and other ancillary services
GIFT City currently hosts 38 banking units with an aggregate asset base of USD 100.14 billion and cumulative banking transactions amounting to USD 142.98 billion
The two international exchanges operating from GIFT IFSC have reported an average monthly turnover of USD 89.67 billion, while GIFT NIFTY alone recorded USD 102.35 billion turnover in May 2025
Global Corporates and Capability Centres Strengthen Presence
GIFT City has emerged as a preferred destination for leading multinational enterprises to set up their Global Capability Centres (GCCs). Notable companies include Infineon Technologies, Technip Energies, TELUS, and Tata Electronics, each contributing to employment and technology depth across semiconductor design, energy transition, and digital capabilities
Major technology and consulting firms such as Accenture, Capgemini, IBM Consulting, and NASSCOM have also expanded operations, reinforcing GIFT City’s position as a high-value global talent and innovation centre.
Rapid Growth in FinTech and Bullion Markets
GIFT City continues its emergence as a global fintech innovation hub. As of September 2025, 20 FinTech/TechFin entities and 8 sandbox participants are operational within the IFSC framework.
Further, the India International Bullion Exchange (IIBX), launched in 2022, is facilitating efficient and transparent bullion trade supported by OECD-compliant responsible sourcing frameworks.
Integrated Smart City Infrastructure Powering Business Competitiveness
GIFT City sets a benchmark for smart urban development through high-performance infrastructure including:
- District cooling system reducing energy consumption by 30%
- Automated waste collection system
- Underground utility tunnel spanning 17 km
- 24×7 water supply with near-zero discharge recycling
- 99.999% power reliability
- Tier-IV Green Data Centre infrastructure by STT Global
Transport connectivity is further strengthened through metro integration with Ahmedabad and Gandhinagar, proximity to the upcoming bullet train, 12 EV buses linking the region, and 20-minute access to Ahmedabad Airport.
Policy Measures and Incentive Framework Driving Growth
To attract global investment and innovation, the Government of India has introduced progressive direct tax, indirect tax, and business-enabling reforms. Units in IFSC are eligible for:
- 10-year income-tax holiday within a 15-year block
- GST exemption on transactions within IFSC
- Stamp duty exemption
- No STT / CTT / MAT
- Custom duty exemptions in SEZ
- Employer PF contribution reimbursement
A Single Window IT System (SWITS) has been introduced for compliance and regulatory facilitation, enabling ease of doing business for financial service entities.
Gateway for Global Education
GIFT City continues to evolve as an academic hub, welcoming top international universities. Deakin University and University of Wollongong are already operational, while Queen’s University Belfast and Coventry University are set to launch campuses shortly.
The introduction of Academic Infrastructure Service Providers (AISP) enables foreign universities to establish campuses with regulatory flexibility and world-class facilities.
GIFT City – Anchoring India’s Vision for Viksit Bharat 2047
GIFT City’s rapid expansion — from nearly 1,000 acres to 3,300+ acres including SEZ and Domestic Tariff Area — underscores its strategic role in driving India’s long-term economic agenda.
With its integrated ecosystem spanning finance, technology, talent, infrastructure, and innovation, GIFT City is poised to act as a global gateway for channeling capital into India’s development journey — reinforcing India’s aspirations toward Viksit Bharat 2047.
Table — Fiscal and Non-Fiscal Support Measures for GIFT City:
| Category | Detailed Incentives / Support Measures |
|
Direct Tax Benefits |
• 100% Income-tax exemption for 10 years within a 15-year block for IFSC units under Section 80-LA of the Income Tax Act, 1961.
• Reduced withholding tax on interest income paid to non-residents. · Minimum Alternate Tax (MAT) not applicable for companies opting for concessional tax regime (as shown in the “Competitive Tax Regime” graphic on page 12). |
| Indirect Tax Benefits |
• GST not applicable to transactions conducted within IFSC. • Custom Duty exemption on goods imported into the SEZ area of GIFT City. • Zero Stamp Duty on transactions related to setting up operations inside GIFT SEZ (Page 12 tax incentive chart also highlights “0% Stamp Duty”). |
|
IT/ITeS Policy Support |
• Fiscal incentives covering both CAPEX and OPEX to IT/ITeS enterprises.
• Incentives for employment generation under state policy. • Aatmanirbhar Gujarat Rojgar Sahay Scheme to support job creation. • Electricity duty concessions for IT/ITeS units. • Self-certification for labour laws & industrial compliance, reducing procedural burden. |
| Other Incentives |
• Exemptions from certain provisions of the Companies Act, 2013, available for IFSC units. • No Securities Transaction Tax (STT) and No Commodity Transaction Tax (CTT) for activities conducted in IFSC. • 100% reimbursement of employer’s Provident Fund contribution, supporting workforce expansion. • Relaxed regulatory environment for setting up Academic Infrastructure Service Providers (AISPs) for foreign universities operating inside IFSC. |
|
Governance & Regulatory Ease |
• Single Window IT System (SWITS) for approvals, filings and compliance for IFSC units.
• Delegation of Development Commissioner powers to IFSCA, reducing administrative layers and speeding project clearances. • Unified Regulator — IFSCA regulates banking, capital markets, AIFs, insurance, fintech and other financial services under one authority, ensuring faster and simplified rules. |
| Sector-Specific Product & Business Enablement |
• Approval of new-age financial products — aircraft leasing, ship leasing, global in-house centres, fintech sandbox innovations etc. under Section 3(1) of IFSCA Act, 2019. • Dual entry routes for fintechs: direct authorization or sandbox testing. • Policy support for AIFs, fund managers, insurers, bullion market participants and capital markets intermediaries, enabling cross-border financial activity inside India. |
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2195725®=3&lang=1
