📷 Image: Wikimedia Commons / Vijay Parmar
Business
₹1.81 lakh crore pledged for GIFT City as India eyes Singapore‑style financial hub
✍️ Bhaskar English
🗓 20 Aug 2026, 05:35 AM
👁 5
India’s Gujarat International Finance Tec‑City has secured commitments worth ₹1.81 lakh crore, positioning it to rival Singapore as a global financial gateway.
Investors have pledged a total of ₹1.81 lakh crore to Gujarat International Finance Tec‑City (GIFT City), the country's first operational smart city dedicated to financial services. The massive inflow of capital is aimed at expanding the city's infrastructure and attracting a broader range of domestic and foreign financial institutions.
The funding boost underscores the government's ambition to transform GIFT City into an international financial gateway that can compete with established hubs such as Singapore. By offering a regulatory framework, tax incentives and world‑class connectivity, the enclave seeks to draw banks, asset managers, insurers and fintech firms to set up regional headquarters.
Analysts expect the investment to accelerate job creation, increase foreign exchange flows and enhance India's standing in global finance. If the projected growth materialises, GIFT City could become a pivotal node in the country's economic landscape, driving further private‑sector participation in the financial services sector.
The funding boost underscores the government's ambition to transform GIFT City into an international financial gateway that can compete with established hubs such as Singapore. By offering a regulatory framework, tax incentives and world‑class connectivity, the enclave seeks to draw banks, asset managers, insurers and fintech firms to set up regional headquarters.
Analysts expect the investment to accelerate job creation, increase foreign exchange flows and enhance India's standing in global finance. If the projected growth materialises, GIFT City could become a pivotal node in the country's economic landscape, driving further private‑sector participation in the financial services sector.