New Delhi, Dec 4 (NationPress) GIFT City is quickly transforming into one of India's most dynamic financial and business centers, having surpassed 1,000 registered entities, according to a recent report released on Thursday.

“GIFT City embodies India's long-term ambition of fostering a globally competitive, innovation-driven financial ecosystem. With its cohesive regulatory framework and solid infrastructure, it is emerging as a crucial gateway for global capital, high-value financial services, and future-ready talent,” stated Anuradha Thakur, Secretary of the Department of Economic Affairs, during a joint compendium by HSBC and EY India.

Banking assets have now exceeded $100 billion, driven by an increasing demand for trade finance, treasury services, and structured financial products.

The capital market is continuing to expand, with an average monthly turnover of approximately USD 90 billion and total debt listings surpassing $67 billion, the report indicated.

Fund management is the fastest-growing segment within the IFSC, boasting 310 AIFs and $26 billion in total commitments.

Reinsurance, fintech, and Global Capability Centres (GCCs) are experiencing rapid growth, bolstered by innovative regulatory frameworks and sandbox initiatives.

GIFT City is on its path to becoming a global hub for aviation and maritime leasing, currently managing 303 aviation assets and 28 leased ships, according to the report.

The compendium underscored the significance of forward-thinking policymaking, cutting-edge infrastructure, and a unified regulatory framework established by the IFSC Authority (IFSCA).

“IFSCA is dedicated to cultivating a world-class regulatory environment that fosters innovation, preserves investor trust, and positions GIFT City as a premier international financial jurisdiction. Our focus lies in enabling new products, deepening markets, and attracting global institutions,” remarked K. Rajaraman, Chairperson of IFSCA.

Integrated infrastructure, a global education corridor, tax incentives (including a 10-year tax holiday, no capital gains tax, and no STT/CTT for eligible transactions), alongside non-resident exchange-control status, facilitate high-efficiency international operations.

The ecosystem is progressing into a scale-up phase, broadening beyond traditional banking into advisory, compliance, asset servicing, and legal services, as noted in the report.

IANS

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