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Gujarat International Finance Tec-City (GIFT City), India's first operational smart city and International Financial Services Centre, has further solidified its status as a global financial hub by achieving higher rankings in multiple categories in the latest Global Financial Centres Index (GFCI 37). GIFT City has secured the top spot in Reputational Advantage, advanced from 45th to 40th in the FinTech ranking, and climbed from 52nd to 46th in the overall ranking. Additionally, it continues to hold its position among the top 15 financial centres in the Asia-Pacific region. The improvements reflect its growing global reputation, investor confidence, and role in financial innovation.
Gujarat International Finance Tec-City (GIFT City), India's pioneering smart city and first International Financial Services Centre, has further enhanced its standing as an emerging global financial hub by achieving notable advancements in several categories in the most recent edition of the Global Financial Centres Index (GFCI 37). GIFT City has secured the top ranking in Reputational Advantage, moved up from 45th to 40th in the FinTech ranking, and progressed from 52nd to 46th place in the overall ranking. These advancements mark significant progress in its journey towards becoming a premier international financial centre. Furthermore, it has successfully maintained its position among the top 15 financial centres within the Asia-Pacific region. Advertisement
GIFT City's strong performance in the GFCI 37 rankings highlights its increasing reputation, growing investor confidence, and its contribution to financial innovation. The improvement in the FinTech ranking signifies its rise as a thriving financial technology hub, while its leading position in Reputational Advantage underscores the global recognition of its business-friendly environment, robust regulatory framework, and world-class infrastructure.
Tapan Ray, Managing Director and Group CEO of GIFT City, stated that the city's consistent rise in the GFCI rankings serves as a testament to India's expanding influence in global finance. He remarked that GIFT City's top ranking in Reputational Advantage, significant progress in FinTech, and overall strong performance reinforce the confidence of global investors and businesses in the city. He further emphasised that GIFT City remains dedicated to improving its ease-of-doing-business environment, infrastructure, regulatory framework, and talent ecosystem to establish itself as a leading international financial hub.
The Global Financial Centres Index (GFCI), compiled by Z/Yen Group, assesses financial hubs worldwide based on 140 instrumental factors sourced from third-party organisations, including the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the United Nations. These factors evaluate financial centres on aspects such as business environment, infrastructure, human capital, financial sector development, and overall competitiveness.
Mike Wardle, CEO of Z/Yen Group, commented that GIFT City continues to make strides as an international financial centre, particularly excelling in its business environment, supported by the ongoing development of trade within the Asia-Pacific region.
As outlined in the GFCI 37 report, 133 financial centres worldwide were assessed, with 119 making it to the main index. The report highlights the continuous rise of emerging financial hubs, with GIFT City's steady progress reinforcing its aspiration to become a preferred global financial destination.
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