Gandhinagar, April 8 – Capital commitments to funds operating from Gujarat International Finance Tec-City (GIFT City) have reached USD 32.13 billion as of December 2025, nearly 60 times more than the less than USD 0.5 billion in March 2020, indicating the rapid growth of India’s offshore financial services hub.
This expansion is reflected in the increasing number of participants. Fund Management Entities (FMEs) in the international financial center have increased from eight in March 2020 to 202 currently, representing a 25-fold increase.
Over the same period, the number of fund schemes has grown from fewer than 10 to 313, indicating a significant increase in product offerings and investment strategies.
Funds based in GIFT City have raised a total of $17.34 billion so far, with around $17 billion already deployed.
These figures suggest that the ecosystem is not only attracting capital commitments but is also facilitating large-scale investment activity.
A significant portion of this capital remains focused on India. Around 85 per cent of deployed funds have been directed towards domestic opportunities, while the remaining 15 per cent has been invested globally.
This trend underscores GIFT City’s role as a conduit for channeling international capital into India, while also enabling investors to access overseas markets from a single jurisdiction.
The growth has been supported by increasing participation from both domestic and global fund managers across asset classes such as private equity, venture capital, and public markets, contributing to a more diversified investment landscape within the center.
A Balasubramanian, Managing Director and Chief Executive Officer of Aditya Birla Sun Life AMC Ltd., said, “GIFT City’s evolution into a vibrant fund management ecosystem marks a significant milestone in India’s financial services journey. For ABSLAMC, GIFT IFSC has provided a strong gateway to launch differentiated investment solutions, serve global and NRI investors more effectively, and facilitate domestic investors’ access to overseas opportunities."
He further added, "We remain committed to building scale in offshore assets under management and expanding our global investment capabilities.”
Vikas Khemani, Founder and Chief Investment Officer of Carnelian Asset Management and Advisors Private Limited, said, “Our offshore inbound fund based out of GIFT City has been operating seamlessly. We see GIFT City not just as a gateway to India, but as an already established international financial center that is witnessing growing participation from both global and domestic players.
With a rapidly evolving infrastructure and a progressive regulatory environment, GIFT City continues to strengthen its position as a premier global financial hub.”
With sustained growth in capital, participants, and deployment, GIFT City is steadily positioning itself as a globally connected fund management hub, supporting both inbound and outbound investment flows.