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Gujarat Chief Minister Bhupendra Patel has said that Gujarat International Finance Tec (GIFT) City will become one of the world’s premier international financial centres in the coming years. He mentioned plans for significant infrastructure expansion, projecting a land area of around 3,400 acres, and the development of a riverfront featuring international-level retail, recreation, and entertainment zones.
Highlighting the forthcoming metro connectivity by mid-2024, Patel emphasised Prime Minister Narendra Modi’s vision for GIFT City as a world-class financial, IT, ITeS, and fintech hub catering to India and the global market.
“I firmly believe that the GIFT City is poised to become one of the world’s premier international financial centres in the coming years,” he said.
The state government has engaged in discussions with several global financial sector companies during the Vibrant Gujarat Global Summit, garnering interest from firms in countries like the UAE, Japan, Australia, Singapore, and the US to explore investment opportunities in GIFT-IFSC.
Patel emphasised the operational status of 580 entities in the International Financial Services Centre (IFSC), with major investments from renowned entities like Google, Bank of America, and Morgan Stanley. He highlighted the establishment of international universities, aviation leasing activities by IndiGo and Air India, and the development of India International Bullion Exchange IFSC Limited in GIFT City.
Patel outlined plans for a Global FinTech Leadership Forum during the VGGS, where PM Modi will engage with top finance and technology CEOs to discuss the evolving fintech landscape. He also highlighted the Dholera Special Investment Region (SIR), poised to be a prominent industrial hub, emphasising initiatives like expressways, metro rail, and the Bhimnath-Dholera Freight Rail Line.
“Dholera will serve as a central hub for cluster development, ensuring comprehensive connectivity through initiatives like a four-lane expressway, Metro rail, multi-modal transport, and the Bhimnath-Dholera Freight Rail Line,” Patel said.
Patel emphasised the government’s discussions with semiconductor companies globally, backed by the Gujarat Semiconductor Policy (2022-27) focusing on fostering semiconductor manufacturing within the state. He mentioned Micron’s choice of Gujarat for its manufacturing facility, citing the state’s infrastructure and business-friendly environment as key factors.
(With PTI inputs)
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