**Transforming India’s Financial Sector with GIFT IFSC: A Global Gateway**
India has taken a groundbreaking step in the financial sector by establishing its first-ever International Financial Services Centre (IFSC) in GIFT City, Gujarat. This unique financial jurisdiction allows transactions in fifteen foreign currencies, making it a preferred gateway for global capital flows into and out of the country. Since its inception, the GIFT IFSC has made remarkable progress in becoming a ‘New Age Global Financial Centre,’ attracting over 600 entities in sectors like banking, fund industry, aircraft leasing, and more.
Key sectors such as banking, fund industry, aircraft leasing, and foreign universities have witnessed significant growth within the GIFT IFSC ecosystem. The IFSC has become a hub for global financial services institutions, offering competitive tax incentives and a trusted regulatory framework. Notable achievements include the growth of Fund Management Entities (FMEs), Aircraft Leasing business, and the establishment of International Branch Campuses for foreign universities.
With a vision to transform India’s financial landscape, GIFT IFSC is set to play a crucial role in achieving the country’s development goals by 2047. The Government’s commitment to bold reforms and innovative initiatives is paving the way for a thriving and integrated global financial ecosystem in India.
**Dr. Dipesh Shah**
*Executive Director (Development) at International Financial Services Centres Authority (IFSCA), GIFT City*
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