Gandhinagar, March 19 GIFT City now competes directly with financial hubs like Singapore, Dubai, London, and New York, and has become a center for realizing the dreams of millions of young people in India, said Gujarat Deputy Chief Minister Harsh Sanghavi on Thursday.
The success of Gujarat International Finance Tec-City (GIFT City) lies in the unified regulatory framework of the International Financial Services Centres Authority (IFSCA), an attractive tax structure, and India's digital financial strength, he said.
He was speaking at the inaugural session of the “IFSCA Talent Vista Summit-2026” organized at GIFT City here.
Sanghavi said that to make GIFT City a global financial center of the future, the focus should be on creating "world-class talent," for which prestigious universities are preparing a new visionary generation.
Foreign universities with a presence in GIFT City have also joined this effort, and the government is committed to providing maximum opportunities to these young people through a structured internship and placement framework, he said.
Prime Minister's Principal Secretary, P K Mishra, and newly appointed GIFT City Chairman, Uday Kotak, were present on the occasion.
Addressing industry leaders, vice-chancellors of various universities, and young people from across the country, Sanghavi recalled the history of GIFT City and said that about two decades ago, Prime Minister Narendra Modi had envisioned a global fintech city on barren land.
At that time, many intellectuals had dismissed it as a "daydream," but today the dream of GIFT City has come true and emerged on the world map, competing with financial hubs like Singapore, Dubai, London, and New York, he said.
Keeping in mind the "evening life" and social needs of the young people working in GIFT City, Sanghavi announced that more than 20 international-class restaurants will be started there in the next year.
In addition, the state government is working "seriously" on the "Working and Living in GIFT City" model to ensure that employees get the best facilities to stay there, he said.
Encouraging entrepreneurs, he said that there may be some differences in incentives in Gujarat compared to other states, but there is no other place like Gujarat with political and policy stability, he said.
On this occasion, Mishra said that GIFT City is no longer "just a fantasy or idea" but has become a global financial infrastructure.
Financial activities that were taking place abroad for decades are now returning to Indian soil. As a result, India's capital market has become strong and high-value employment is being created in India, he said.