“Gujarat International Finance Tec-City (GIFT City) is emerging as a crucial global finance hub, attracting various financial and technology firms with its unique blend of regulatory advantages, tax...
In a move to make India a hub for global capital flow, Gujarat International Finance Tech-City (“GIFT City”) was established by the Government of India in April 2015 near Gandhinagar, Gujarat, pursuant to the Special Economic Zones Act, 2005 (“SEZ Act”), Special Economic Zones Rules, 2006 and the regulations made thereunder. The GIFT City is divided into two parts:; (i) a domestic tariff area (“GIFT DTA”) which is governed as per domestic laws, and (ii) a multi-service special economic zone (“GIFT SEZ”) which consists of a globally benchmarked International Financial Service Centre (“GIFT IFSC”) along with IT & ITeS and other export services, which are essentially offshore financial centres that cater to customers outside their own jurisdiction
