GIFT City: Shifting the Financial Landscape with Global Recognition

GIFT City: Shifting the Financial Landscape with Global Recognition

GIFT Nifty: A Game-Changer for GIFT City

This article highlights the recent move of the Singapore Stock Exchange Nifty (SGX Nifty) to the Gujarat International Finance Tec-City (GIFT) International Financial Services Centres (IFSC). The move aims to increase trading volumes and liquidity in GIFT, attracting more investors, traders, and market intermediaries. Here are the key points:

– GIFT City’s journey to become a leading international financial service center has gained attention from the international community, with a banking asset book of over $35 billion and a thriving insurance sector.
– The International Financial Services Centres Authority (IFSC) has implemented principle-based regulations, making GIFT City attractive for financial sector participants.
– GIFT City has liberalized capital and liquidity requirements, attracting several international banks to establish banking units. It offers financial services within a liberalized foreign exchange regime.
– The government aims to further grow financial and technology businesses at GIFT City, creating 500,000 direct jobs and equal indirect employment.
– GIFT City also aims to attract corporates/MNCs to set up regional/global corporate treasury centers, offering a conducive environment with relaxed regulations.

In conclusion, GIFT City’s move to host GIFT Nifty will deepen India’s integration with the global financial sector and position itself as a frontrunner in the emerging financial landscape, embracing technologies like blockchain, artificial intelligence, and digital currencies.

Hot Take: GIFT City’s Rise as an International Financial Hub

GIFT City’s shift to becoming a leading international financial service center through the introduction of GIFT Nifty marks a significant step forward. With its liberalized regulations, increasing participation, and government support, GIFT City has the potential to attract global investors and corporations. Its focus on emerging technologies and its aim to create a conducive environment for financial and technology businesses demonstrate its ambition to become a major player in the global financial sector. GIFT City’s rise could position India as a key destination for international finance and further strengthen its recognition on the international stage.

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The Economic Times is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. The Economic Times began publication in 1961. As of 2012, it is the world’s second-most widely read English-language business newspaper, after The Wall Street Journal, with a readership of over 800,000. Wikipedia

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