Can GIFT City Achieve $500 Billion Financial Hub Status?
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Synopsis
The recent GIFT International Banking Forum revealed ambitious plans for GIFT City to evolve into a $500 billion financial hub, marking a pivotal moment in India's journey to becoming a global financial leader. With strong participation and innovative discussions, the event highlighted the potential for significant global financial integration.
Key Takeaways
- GIFT City aims to become a $500 billion financial hub.
- 34 IFSC Banking Units are already operational.
- Potential for $34 trillion in cross-border lending.
- Focus on innovation in banking sectors.
- Strong participation from major banks and leaders.
New Delhi, Sep 26 (NationPress) The second edition of the GIFT International Banking Forum (GIBF) 2025 wrapped up on Friday, showcasing the potential of Gujarat International Finance Tec-City (GIFT City) to evolve into a $500 billion multi-asset financial hub. This event marks a significant step in India’s transition from a delivery hub to a pivotal global financial centre.
Discussions at the forum emphasized strategies for GIFT City to bolster India’s financial aspirations, spotlighting avenues to tap into global financial flows. This includes bank credit, which represents 86 percent of the world’s GDP, a staggering $34 trillion potential for cross-border lending, $860 billion in remittances, and the opportunity to capture 15-25 percent of treasury operations across bonds, forex, derivatives, and investments through GIFT City.
"GIFT City stands at the forefront of India’s ambition to become a global banking and financial powerhouse. With 34 IFSC Banking Units (IBUs) already operational, we are witnessing the emergence of a dynamic ecosystem that links India with global financial markets seamlessly," stated Sanjay Kaul, MD and Group CEO of GIFT City.
The IBUs are innovating in areas such as cross-border financing, foreign currency lending, trade finance, treasury operations, and wealth management, all of which are crucial for India’s growth and global integration, he noted.
“As India makes the shift from being a delivery hub to a strategic centre of global finance, GIFT City will play a vital role in facilitating this transformation — acting as a launchpad for innovation, capital flows, and financial leadership on the global stage,” Kaul further emphasized.
The exclusive event attracted participation from over 50 banks and more than 150 senior leaders from across the nation.
Under the theme “Powering India’s Global Financial Leadership,” the forum offered a comprehensive agenda filled with keynotes, presentations, and panel discussions. These discussions focused on how GIFT City is positioned to spearhead innovation in various banking sectors, including wholesale banking, retail wealth, and treasury, while cultivating a unified vision for India as a global financial hub.
GIBF 2025 also recognized excellence in the sector with awards such as “Bank of the Year” awarded to HSBC, “Innovative Bank of the Year” to Bank of Baroda, and “Digital Bank of the Year” to Standard Chartered Bank.
Point of View
It is evident that GIFT City is poised to play a transformative role in India's financial landscape. The discussions held at the GIBF 2025 reflect a robust strategy aimed at positioning India as a key player in global finance. This journey demands collaboration and innovation, and GIFT City is set to be at the heart of it.
NationPress
26/09/2025
Frequently Asked Questions
What is GIFT City?
GIFT City, or Gujarat International Finance Tec-City, is a globally recognized financial hub that aims to facilitate international business and finance.
What was the focus of GIBF 2025?
The focus of GIBF 2025 was to discuss strategies to position GIFT City as a $500 billion multi-asset financial hub and to explore opportunities in global financial markets.
How many banks participated in the event?
Over 50 banks and more than 150 senior leaders participated in the GIBF 2025.
What were some awards given at the forum?
Awards included 'Bank of the Year' to HSBC, 'Innovative Bank of the Year' to Bank of Baroda, and 'Digital Bank of the Year' to Standard Chartered Bank.
What is the strategic importance of GIFT City for India?
GIFT City is crucial for India’s ambition to transition into a global financial powerhouse, helping to attract foreign investments and enhance global financial integration.
