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-Corporate offices of world famous companies like Bank of America, SBI, LIC, Google, IBM, Oracle and TCS operate in GIFT City.
Gandhinagar, 15 October (Hindustan Reporter). GIFT City has been constructed on the banks of Sabarmati River between Ahmedabad and Gandhinagar, the capital of Gujarat. GIFT City, an initiative of the Government of Gujarat and in collaboration with the Government of India, has been developed as India's first operational smart city and international financial services hub. GIFT City was conceived in 2007 under the vision and guidance of Prime Minister Narendra Modi. GIFT City has been created to develop India as a financial center on the lines of globally financially prosperous countries like New York, London, Tokyo, Paris, Singapore and Dubai.
Presently spread over an area of 886 acres in Gandhinagar, GIFT City is being developed as a well-planned and technology-enabled smart city with world-class commercial, residential and social amenities. Located in a multi-service Special Economic Zone (SEZ), GIFT City has India's only International Financial Services Center (IFSC) and Domestic Tariff Area. Presently work is going on in about 20 buildings in GIFT City and other projects are in progress. Due to the popularity of GIFT City and the encouraging policies of the Government of Gujarat, various national and international companies are coming here for business. This has resulted in more than 700 business establishments opening their offices in GIFT City and generating an estimated 25,000 direct and indirect jobs.
'Development Week' is being celebrated in Gujarat under the leadership of Chief Minister Bhupendra Patel to highlight the accomplishment of Prime Minister Narendra Modi's resolve of 23 years among the people. Gujarat has today emerged as a model state of the country, and the dream project of the current Prime Minister and the then Chief Minister of Gujarat Narendra Modi, Gujarat International Finance Tech-City (GIFT City) located in Gandhinagar, is helping in realizing the dream of 'Developed India@2047'. Is playing an important role. GIFT City has state-of-the-art infrastructure facilities such as district cooling system, automated waste collection system, underground utility tunnel and green transportation, schools and medical facilities, a business club with indoor and outdoor sports facilities, recreational facilities, five star hotel, super market and Social amenities like multi-cuisine restaurant are available.
Along with trade and commerce, well-planned housing projects are also being built in GIFT City, making GIFT City a true 'Walk to Work' city. Various transportation facilities available in GIFT City including metro train connectivity, domestic and international airports located at a distance of 20 minutes, railway station at a distance of 15 minutes and National Highway connectivity provide a conducive environment for industries. India's only international financial services center located in GIFT City is carving a niche for itself as one of the top global financial centres, with London gaining even more prominence in the Global Financial Center Index over the next few years. Additionally, GIFT City provides facilities to corporates to invest through global benchmarks, vibrant business ecosystem, single window access. GIFT City has also received the honor of being India's first Platinum Rated City for Greenfield Smart City.
GIFT City operates capital markets, offshore insurance and banking, asset management and alternative investment funds as well as aircraft and ship leasing, ancillary services, two international stock exchanges and an international bullion exchange, as well as national and international banking entities. GIFT City has banks like Bank of America, DBS, Deutsche Bank, HSBC, MUFG Bank, Barclays, JP Morgan Chase, BNP Paribas, Standard Chartered Bank, Citi Bank and New Development Bank and foreign banks like SBI, Federal Bank, IDBI Bank, HDFC Bank. A total of 28 banking units exist, including Indian banks such as Kotak Mahindra, ICICI, Bank of India, Bank of Baroda, Indian Bank, RBL Bank, IndusInd Bank, Axis Bank and Yes Bank. A total of 35 insurance companies like Allianz, General Insurance Corporation, ICICI Lombard General Insurance, New India Assurance Company, Life Insurance Corporation of India (LIC), Canara HSBC, HDFC Life, National Insurance, Aditya Birla Capital, Alliance Insurance Brokers are operating in GIFT City. .
Not only this, GIFT City has 24 aircraft leasing and financing institutions, 12 ship leasing, 1 bullion exchange, more than 55 fintech companies, more than 130 alternative investment funds, 124 fund management companies, 2 international stock exchanges and more than 70 ancillary services. Manufacturing companies are working. Foreign universities like Deakin University and University of Wollongong and big companies like Google, IBM, Capgemini, Oracle, TCS, Sybase Software and Maxim Integrated are also present here. In the coming time, various projects like Riverfront, Central Park and Lilavati Hospital will also be implemented in GIFT City.