Gandhinagar, May 15: GIFT City in Gujarat hosted a high-level delegation from BRICS countries on Friday. The representatives were briefed on India’s rapidly evolving International Financial Services Centre (IFSC) ecosystem. They were also informed about the growing opportunities in cross-border finance, fintech, trade, and global business services.
This visit holds significant importance as India is set to chair BRICS in 2026. The theme for this year is “Building Resilience, Innovation, Cooperation, and Sustainability.” Additionally, India will host the 18th BRICS Summit along with several ministerial events.
The delegation received an in-depth presentation on GIFT City’s development model. Officials highlighted that it is India’s first international financial services center, becoming a key hub for global financial services, foreign exchange transactions, and international capital flows.
Senior officials from GIFT City and the International Financial Services Authority provided a comprehensive overview, emphasizing the city’s regulatory framework, modern infrastructure, and business-friendly environment. They also shared insights on opportunities in banking, capital markets, fund management, insurance, reinsurance, aircraft leasing, fintech, and global capability centers.
The representatives toured various key facilities within GIFT City, gaining a close understanding of its integrated smart city framework and the systems supporting financial services. They expressed particular interest in collaboration opportunities in cross-border financial services, fintech innovation, digital finance, and international trade.
Sanjay Kaul, Managing Director and Group CEO of GIFT City, remarked that GIFT City is continuously emerging as a global-level financial and innovation center. He noted that this platform is providing new directions for international financial services and cross-border trade from India. He also mentioned that the visit offered a crucial opportunity to showcase GIFT City’s integrated ecosystem to global representatives and discuss investment, sustainable finance, fintech innovation, and international cooperation.
Currently, over 1,130 institutions across various sectors, including banking, capital markets, fund management, insurance, leasing, and fintech, operate in GIFT City. Banking assets have surpassed $106 billion, while fund management commitments have exceeded $32 billion.
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