Gandhinagar: Several international entities have shown interest in the fast-growing financial hub, Gujarat International Finance Tec (GIFT) City. This was visible with the major announcements made regarding GIFT City during the ongoing Vibrant Gujarat Global Summit.

Tapan Ray, the Managing Director and CEO of GIFT City, addressed the press on Thursday, providing a comprehensive overview of the noteworthy developments.

Abu Dhabi Investment Authority has emerged as the inaugural sovereign fund to establish its presence in GIFT City.

APEX Group, one of the leading fund administrators, has established its office in GIFT City as a fund administrator and fund accounting service provider. APEX Group plans to employ around 1000 people over a period of three years.

Mizuho Bank has become the second Japanese bank to set up an IFSC banking unit in GIFT IFSC.

The Chancellor and Vice-Chancellor of Deakin University inaugurated its campus in GIFT City. The Prime Minister held a one-on-one meeting with Deakin University.

Transworld Group has announced plans to set up ship leasing and aircraft leasing activities in GIFT IFSC, being one of the leading UAE-based groups.

Accenture has expressed a desire to establish its presence in GIFT.

The Education Centre of Australia has submitted an expression of interest to become the academic infrastructure service provider for foreign universities in GIFT City. This move aims to bring leading foreign universities to GIFT City.

Stonex Group is setting up a bullion trading desk in GIFT City IFSC.

ONGC has also established a finance company for its treasury activities in GIFT.

Wipro has applied to start operations in the Tech-Fin sector (B2B).

SBI will shift its local headquarters to GIFT and has received the occupancy certificate for that.

The LIC tower is also ready, has received the NOC, and will soon begin operations.

These announcements were made following Prime Minister Narendra Modi’s active participation in the Global Fintech Leadership Forum hosted at GIFT City on the inaugural day of the Vibrant Gujarat Global Summit 2024. The forum saw the engagement of 26 prominent business leaders, including RIL CMD Mukesh Ambani, Laxmi Mittal, Sanjay Mehrotra, Uday Kotak, and others. DeshGujarat

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