Gandhinagar - Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired a review meeting, along with a team of Secretaries from the Ministry of Finance and Ministry of Corporate Affairs, on the development and growth of India’s maiden International Financial Services Centre (IFSC) at GIFT City, Gandhinagar, here.

The visit, organised by GIFTCL in collaboration with the State Government of Gujarat, saw the presence of Shri Kanubhai Desai, Minister of Finance, Energy & Petrochemicals, Government of Gujarat besides Chief Secretary, Government of Gujarat, and other senior officials of the state. All Indian financial sector regulators also participated in the review meeting.

Presentations were made by Chairman GIFT City, Chairman, International Financial Services Centre Authority (IFSCA) and officials of the Government of Gujarat on important milestones and achievements in the journey of India’s maiden IFSC in the past few years, especially since the inception of IFSCA, along with various policy support and incentives extended by the Government.

During the review meeting, the Union Finance Minister emphasised on the need for all stakeholders to recognise and support the identified pathways to elevate GIFT City as a premier financial hub so that it stands out as the best among its contemporaries on the global scale.

Smt. Sitharaman further said that as envisioned by Prime Minister Shri Narendra Modi, GIFT City should emerge not only as a lively international centre but also as a global leader in devising solutions to intricate financial challenges, especially in the climate of the current global economic headwinds.