New Delhi: The competition to become a global financial hub is increasingly becoming a game of regulatory ecosystems, rather than physical infrastructure. Financial centres are not only business centres, but also gateways for international investment, cross-border banking and capital flows. To make its way into this picture, India has been trying to establish Gujarat International Financial Tec-City (GIFT City), the nation’s first operational International Financial Services Centre (IFSC).
This vision will be on the agenda at the Vibrant Gujarat Regional Summit in Vadodara on June 30, where GIFT City will showcase its emerging contribution to the international financial services landscape in India. A special session titled ‘GIFT City: International Financial Gateway of India’ is set to see policy makers, regulators, financial institutions and industry leaders discuss the next steps in the country’s global finance aspirations.
The summit coincides with the fact that GIFT City has grown beyond its original scope of work. It has slowly transformed into a niche financial hub for offshore banking, fund management, insurance, aircraft leasing, fintech and global treasury operations since its inception.
The current official data shows that GIFT City now has over 1,500 registered entities with approximately 27,000 professionals. The financial activity that has grown in a relatively short time has been highlighted by the banking assets in the IFSC, which have reached USD 111 billion. The ecosystem has also become an expanding hub for investment management, with 217 Fund Management Entities (FMEs) managing 360 investment schemes and capital commitments of over USD 39 billion.
Leasing has emerged as another significant part of the IFSC. By March 2026, there were 35 aircraft lessors and 36 ship lessors in GIFT City, operating over 370 aviation assets and 37 ships via leasing structures set up within the financial centre. Global and Regional Corporate Treasury Centres (GRCTCs) based in GIFT City have seen loans and advances valued at more than USD 5.61 billion, as more multinational companies are interested in conducting treasury operations from India.
The talks at the Vadodara summit will likely be on how this ecosystem can further bolster India’s position in the global financial services. The industry will be discussing opportunities in banking, capital markets, asset management, insurance, fintech and emerging international financial products, and will review the policy framework that has helped the IFSC to develop.
The regulatory framework is the difference between GIFT City and the traditional financial centres in India. It is regulated by the International Financial Services Centres Authority (IFSCA), which is a single regulator to regulate financial products and services provided from the IFSC. The framework aims to enable cross-border financial transactions and offer regulatory clarity to institutions that serve global markets.
Meanwhile, the policymakers are still seeing GIFT City as a long-term project and not just based on the short-term investment figures. The development of an international financial centre demands ongoing regulatory changes, tax competitiveness, a qualified workforce and greater involvement of international institutions. Traditional financial centers like Singapore, Dubai and Hong Kong still dominate the international financial world, but India’s approach has been to slowly build a niche by tapping into its domestic market and increasing financial ties with the rest of the world.
The event in Vadodara is also part of the Vibrant Gujarat Regional Summit series which aims to take investment promotion beyond the flagship biennial Vibrant Gujarat Global Summit. The regional conferences will connect government, businesses, investors and academic institutions to showcase opportunities in the sector in each region of the state.
The conference sessions will be complemented by an experiential pavilion that will provide an overview of the developments in banking, fund management, aircraft leasing, fintech and treasury services in GIFT City.
The summit in many ways marks the next phase of GIFT City’s evolution, from a project that was seen as just an infrastructure project to one that would become the gateway for international financial services to India. The IFSC is steadily emerging as a significant component of India’s economic and financial policy as the number of institutions, assets and financial activity continues to grow, albeit with the need for continued policy support and increased global participation.
