In the run-up for the Vibrant Gujarat Summit to be held in January 2022, Gujarat Chief Minister Bhupendra Patel was in Mumbai for the second Vibrant Gujarat roadshow, after one in Delhi on November 25. Speaking in Gujarati before a group of investors and fintech firms, the Chief Minister pushed hard also for the financial hub Gujarat International Finance Tech-City or GIFT City saying “People from across the world come to Gujarat to work and the state provides them the opportunities to progress in life.”
Bhupendra Patel visited the BSE stock exchange also. His other meetings during the day included interaction with industry stalwarts like Ashok Hinduja, Neeraj Akhoury, Nikhil Meswani, Uday Kotak, N Chandrasekaran, and Ms Kaku Nakhate, President and Country Head of Bank of America who has 700 employees locally for their unit in GIFT City.
Gujarat Chief Secretary Pankaj Kumar informed that the investments worth Rs 11,000 crore from 140 companies have been committed to GIFT City . 30 Alternate Investment Funds (AIFs) have lined up to enter IFSC. The international bullion exchange is expected to start operations in January 2022
The concept of the GIFT City born in 2007, was materialized after the actual groundwork started in October 2011. The first structure was inaugurated by then chief minister Narendra Modi in January 2013 and the flow of investments started pouring in after Narendra Modi became the Prime Minister
As per Government projections, GIFT City is poised to emerge as one of the most preferred financial hubs in the world in the coming decade. GIFT City in Gujarat houses the international bullion exchange, fintech firms, aircraft leasing and ship leasing business activities and international stock exchanges under one umbrella.