GIFT City Targets $500 Billion Financial Hub Status

(MENAFN- IANS) New Delhi, Sep 26 (IANS) The second edition of the GIFT International Banking Forum (GIBF) 2025 successfully concluded on Friday, highlighting opportunities to position Gujarat International Finance Tec-City (GIFT City) as a $500 billion multi-asset financial hub, underscoring India's transition from a delivery hub to a strategic global financial centre.

The event also discussed measures on how GIFT City can anchor India's global financial ambitions, highlighting opportunities to unlock global flows - including bank credit accounting for 86 per cent of world GDP, a $34 trillion cross-border lending potential, $860 billion remittances, and the possibility of capturing 15-25 per cent of treasury operations in bonds, forex, derivatives, and investments through GIFT City.

"GIFT City is at the forefront of India's ambition to emerge as a global banking and financial powerhouse. With 34 IFSC Banking Units (IBUs) already operational, we are witnessing the creation of a vibrant ecosystem that is seamlessly connecting India with global financial markets," said Sanjay Kaul, MD and Group CEO, GIFT City.

The IBUs here are driving innovation in cross-border financing, foreign currency lending, trade finance, treasury operations, and wealth management - areas critical for India's growth story and global integration, he added.

“As India transitions from being a delivery hub to a strategic centre of global finance, GIFT City will continue to anchor this transformation - serving as the launchpad for innovation, capital flows, and financial leadership on the world stage,” Kaul further emphasised.

The invite-only event saw a strong turnout, with participation from more than 50 banks and over 150 senior leaders from across the country.

With the theme“Powering India's Global Financial Leadership”, the forum featured a full-day agenda of keynotes, presentations, and panel discussions, where conversations highlighted how GIFT City is positioned to drive innovation in various aspects of banking, including wholesale banking, retail wealth, and treasury, while shaping a unified vision for India as a global financial hub.

'GIBF 2025' also celebrated excellence with awards, including“Bank of the Year” to HSBC,“Innovative Bank of the Year” to Bank of Baroda, and“Digital Bank of the Year” to Standard Chartered Bank.

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