Synopsis
GIFT City in Gandhinagar has made significant advancements in the latest Global Financial Centres Index (GFCI 37), achieving the top spot in the 'Reputational Advantage' category and improving its overall ranking. This highlights India's growing influence in global finance and GIFT City's commitment to becoming a leading international financial hub.Key Takeaways
- GIFT City secured the top rank in the 'Reputational Advantage' category.
- Overall ranking improved from 52nd to 46th.
- Climbed from 45th to 40th in FinTech rankings.
- Ranked among the top 15 financial centres in the Asia-Pacific region.
- Commitment to enhancing ease of doing business and infrastructure.
Gandhinagar, March 26 (NationPress) The Gujarat International Finance Tec-City (GIFT City) has announced significant advancements in various categories in the most recent edition of the Global Financial Centres Index (GFCI 37), achieving a leading position in the ‘Reputational Advantage’ category.
GIFT City has risen from 45th to 40th in the FinTech rankings, while its overall ranking improved from 52nd to 46th, marking considerable progress in its quest to establish itself as a premier international financial hub.
Furthermore, India’s inaugural operational smart city maintained its status among the top 15 financial centres in the Asia-Pacific region.
“The ongoing ascent of GIFT City in the GFCI rankings signifies India's increasing impact on global finance. Our top position in Reputational Advantage, substantial gains in FinTech, and robust overall performance bolster the trust of international investors and enterprises in GIFT City,” stated Tapan Ray, Managing Director and Group CEO of GIFT City.
“We are dedicated to improving our business environment, infrastructure, regulatory framework, and talent ecosystem to position GIFT City as a leading international financial hub,” he added.
The commendable performance of GIFT City in the GFCI 37 rankings underscores its enhancing reputation, investor trust, and its contribution to fostering financial innovation.
The Global Financial Centres Index (GFCI), developed by Z/Yen Group, assesses financial hubs globally based on 140 key factors provided by third-party organizations such as the World Bank, OECD, and the United Nations.
These factors evaluate financial centres on aspects like business environment, infrastructure, human capital, financial sector development, and overall competitiveness.
“GIFT City is making strides as an international financial centre, particularly excelling in its business environment, supported by the ongoing development of trade in the Asia/Pacific region,” remarked Mike Wardle, CEO of Z/Yen Group.
According to the GFCI 37 report, 133 financial centres globally were assessed, with 119 included in the main index.
