GIFT City Soars in Global Finance: Climbing the Ranks with FinTech and Reputational Gains

GIFT City, India's first smart city and International Financial Services Centre, climbed to 40th in the FinTech sector and improved its overall rank in the Global Financial Centres Index 37, securing the top spot in Reputational Advantage, showcasing its growing global recognition and robust business environment.

Gujarat International Finance Tec-City (GIFT City), India's pioneering operational smart city and International Financial Services Centre, has made significant progress in the Global Financial Centres Index (GFCI 37). An official release has revealed that GIFT City now holds the top position in Reputational Advantage, has climbed from 45th to 40th in the FinTech rankings, and improved its overall standing from 52nd to 46th place, underscoring its status as a leading international financial hub. Additionally, it retains its standing as one of the top 15 financial centres in the Asia-Pacific region.

This robust performance is an indicator of GIFT City's growing reputation, increased investor confidence, and its influential role in spurring financial innovation. Its advancement in the FinTech ranking highlights GIFT City's emergence as a burgeoning hub for financial technology, while its leading position in Reputational Advantage signifies global recognition stemming from its business-friendly environment, solid regulatory framework, and top-tier infrastructure. Tapan Ray, the Managing Director and Group CEO of GIFT City, remarked, "GIFT City's continued ascension in the GFCI rankings reflects India's expanding sway in global finance. Our preeminent position in Reputational Advantage, considerable improvement in FinTech, and strong overall performance galvanize the trust of international investors and enterprises. We remain committed to bolstering our ease-of-doing-business, infrastructure, regulatory standards, and talent ecosystem to position GIFT City as a preeminent international financial hub."

The Global Financial Centres Index, compiled by the Z/Yen Group, assesses global financial centres based on 140 critical factors from third-party organizations like the World Bank, OECD, and the United Nations. These factors measure financial centres across parameters like business environment, infrastructure, human capital, and overall competitiveness. "GIFT City continues to progress as an international financial centre, with particular strengths in its business environment, driven by the ongoing growth of trade in the Asia/Pacific region," stated Mike Wardle, CEO of the Z/Yen Group. As reported in GFCI 37, 133 financial centres worldwide were evaluated, with 119 making the principal index. The report emphasizes the rise of emerging financial hubs, with GIFT City's steady advancement reinforcing its ambition to be a favored global financial destination.

(With inputs from agencies.)