New Delhi, April 8: Gujarat International Finance Tec-City (GIFT City) announced on Wednesday that its fund management ecosystem has skyrocketed to $32 billion in capital commitments over the past five years, a remarkable 60-fold increase from just $0.5 billion in March 2020.
According to GIFT City, the number of Fund Management Entities (FMEs) in the International Financial Services sector has surged nearly 25 times, reaching 202 from a mere 8 in March 2020.
During this period, funds based in GIFT City have raised $17.34 billion, with approximately $17 billion already invested. This growth indicates that the ecosystem is attracting significant commitments and facilitating large-scale real investment activities.
The number of fund schemes has increased to 313, reflecting a rapid expansion in product offerings and investment strategies, up from fewer than 10 previously.
Approximately 85% of the capital invested through GIFT City has been allocated within India, while the remaining 15% is designated for global investments.
GIFT City has emphasized that these capital commitments have played a pivotal role in bringing global capital to India, providing investors with access to international opportunities from a single location.
The development of this ecosystem has been supported by the increasing participation of domestic and global fund managers across various asset classes, including private equity, venture capital, and public market strategies.
A. Balasubramanian, Managing Director and CEO of Aditya Birla Sun Life AMC Limited, stated, “GIFT IFSC has provided a strong foundation for our company to launch specialized investment solutions, serve global and non-resident Indian investors more effectively, and offer domestic investors access to foreign opportunities. We are committed to expanding our management of foreign investment assets and enhancing our global investment capabilities.”
Dikvijay Khemwani, Founder and CIO of Cornelian Asset Management and Advisors Private Limited, remarked, “Our foreign inbound fund, operated from GIFT City, is running smoothly. With rapidly developing infrastructure and a progressive regulatory environment, this institution continues to strengthen its position as a leading global financial center.”
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