Gift City: Pm Modi's Visionary Project Driving Viksit Bharat@2047

Under the leadership of Chief Minister Bhupendra Patel, Gujarat is celebrating “Vikas Saptah” (Development Week) with great enthusiasm to highlight Prime Minister Narendra Modi's 23 years of resolute governance. Gujarat has emerged as a model state in India, and one of PM Modi’s dream projects, GIFT City in Gandhinagar, is playing a pivotal role in realizing the vision of a Viksit Bharat@2047—a developed and prosperous India by 2047.

Located between Ahmedabad and Gandhinagar along the banks of the Sabarmati River, GIFT City (Gujarat International Finance Tec-City) was conceived with the goal of making India a global financial hub, much like financial centers in cities such as New York, London, Tokyo, Paris, Singapore, and Dubai. The foundation of GIFT City was laid in 2007 under the visionary leadership and guidance of Narendra Modi, then Chief Minister of Gujarat.

Spread across 886 acres in Gandhinagar, GIFT City is being developed as a well-planned, technology-enabled smart city offering world-class commercial, residential, and social infrastructure. It houses India’s only operational International Financial Services Centre (IFSC) and Domestic Tariff Area (DTA) within its Multi-Service Special Economic Zone (SEZ). With over 20 operational buildings and several projects under development, GIFT City is attracting numerous national and international companies thanks to favorable policies and initiatives by both the Gujarat and Indian governments.

GIFT City’s modern infrastructure includes a district cooling system, an automated waste collection system, an underground utility tunnel, and green transportation. It also offers essential social amenities such as schools, healthcare facilities, indoor and outdoor sports centers, business clubs, entertainment options, five-star hotels, supermarkets, and multi-cuisine restaurants. Residential housing projects are being developed alongside commercial ones, making GIFT City a true “walk-to-work” city.

GIFT City enjoys excellent connectivity, with metro rail access, domestic and international airports just 20 minutes away, a railway station 15 minutes away, and easy access to national highways, providing a business-friendly environment for enterprises.

India’s only IFSC, located within GIFT City, has already established a strong global presence, positioning itself as one of the top global financial centers. It is expected to gain even greater recognition in the coming years in rankings such as the Global Financial Centres Index (London). GIFT City offers a vibrant business ecosystem with single-window access, making it an attractive destination for global corporations. It has also earned the title of India’s first platinum-rated city for its greenfield smart city design.

GIFT City is home to key sectors such as capital markets, offshore insurance, offshore banking, asset management, and alternative investment funds, in addition to two international stock exchanges and an international bullion exchange. Major Indian and international banks such as Bank of America, DBS, Deutsche Bank, HSBC, MUFG Bank, Barclays, JP Morgan Chase, BNP Paribas, Standard Chartered Bank, Citibank, and New Development Bank have set up their units here, alongside Indian banks like SBI, Federal Bank, IDBI Bank, HDFC Bank, Kotak Mahindra, ICICI, and more.

Additionally, 35 insurance companies, including Allianz, General Insurance Corporation, ICICI Lombard, New India Assurance, and Life Insurance Corporation (LIC), have established operations in GIFT City. The city also houses 24 aircraft leasing and financing entities, 12 ship leasing companies, 55 fintech companies, over 130 alternative investment funds, 124 fund management firms, and 70 ancillary service providers.

Prominent global firms like Google, IBM, Capgemini, Oracle, TCS, and Cybage have a presence in GIFT City, and educational institutions like Deakin University and the University of Wollongong are also located here. Upcoming projects such as a riverfront, central park, and Lilavati Hospital will further enhance the city's appeal.

GIFT City is not only a symbol of PM Narendra Modi’s visionary leadership but also a critical part of India’s journey towards Viksit Bharat@2047, a future where India stands as a global economic leader, driven by innovation, sustainable infrastructure, and inclusive growth.