Gandhinagar - The GIFT City is ideally poised to be the gateway for financial and investment hub and has an important role to play in fulfilling the vision for India to become developed nation by 2047, said Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman while addressing the seminar ‘GIFT City-An Aspiration of Modern India’, organised as part of the 10th Vibrant Gujarat Global Summit 2024, at Gandhinagar.
The Union Finance Minister said Prime Minister Shri Narendra Modi had conceptualised the idea of GIFT City way back in 2007 when he was the Chief Minister of Gujarat and it has now expanded into becoming a major international financial hub.
Spelling out the vision of the Prime Minister in terms of green technology, Smt. Sitharaman said GIFT City should look at being a platform for green credits. It should also aim to build diverse fintech laboratory to achieve the target of India’s economy becoming $30 trillion by 2047, the Union Finance Minister added.
Listing out the growing presence of operations at International Financial Services Centres (IFSC), Smt. Sitharaman said there are now 3 exchanges including International Bullion Exchange, 25 banks, including 9 foreign banks, 26 aircraft lesser, 80 fund managers, 50 professional service providers and 40 fintech entities in the GIFT City.
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