BRICS Delegation Visits GIFT City, Gujarat
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BRICS delegation visits GIFT City in Gujarat. Overview of IFSC ecosystem, cross-border finance, fintech, and global business services.
Ahmedabad, May 15 (PTI) A delegation comprising representatives from BRICS nations visited GIFT City here on Friday and were provided with an overview of India's evolving International Financial Services Centre (IFSC) ecosystem as well as growing opportunities in cross-border finance, fintech, trade and global business services, an official said.
GIFT City currently hosts over 1,130 entities across sectors including banking, capital markets, fund management, insurance, leasing and fintech, with banking assets crossing USD 106 billion and fund management commitments exceeding USD 32 billion.
The visit assumes significance as India holds the BRICS Chairship for 2026 under the theme 'Building for Resilience, Innovation, Cooperation and Sustainability'. India is also set to host the 18th BRICS Summit and related ministerial engagements during the year.
"As part of the visit, the delegation was apprised of GIFT City's development as India's maiden IFSC and its emergence as a gateway for international financial services, global capital flows and foreign currency transactions from within India," stated a release from GIFT City.
On the occasion, the members were taken through a detailed presentation covering the city's regulatory ecosystem, globally benchmarked infrastructure, business environment and sectoral opportunities across banking, capital markets, fund management, insurance and reinsurance, aircraft leasing, fintech, and Global Capability Centres (GCCs), it said.
"The delegation also visited some key facilities within GIFT City to gain first-hand insights into the integrated smart city infrastructure and institutional ecosystem developed to support international financial services operations," it further stated.
The visiting delegates showed keen interest in understanding the business and collaboration opportunities emerging from GIFT City, particularly in areas related to cross-border financial services, fintech innovation, international trade and digital finance.
The visit by the BRICS delegation provided an important opportunity to showcase GIFT City's integrated financial and urban ecosystem, and to exchange perspectives on areas such as cross-border investments, sustainable finance, fintech innovation and international economic cooperation, GIFT City managing director and group CEO Sanjay Kaul said.
GIFT City currently hosts over 1,130 entities across sectors including banking, capital markets, fund management, insurance, leasing and fintech, with banking assets crossing USD 106 billion and fund management commitments exceeding USD 32 billion.
The visit assumes significance as India holds the BRICS Chairship for 2026 under the theme 'Building for Resilience, Innovation, Cooperation and Sustainability'. India is also set to host the 18th BRICS Summit and related ministerial engagements during the year.
"As part of the visit, the delegation was apprised of GIFT City's development as India's maiden IFSC and its emergence as a gateway for international financial services, global capital flows and foreign currency transactions from within India," stated a release from GIFT City.
On the occasion, the members were taken through a detailed presentation covering the city's regulatory ecosystem, globally benchmarked infrastructure, business environment and sectoral opportunities across banking, capital markets, fund management, insurance and reinsurance, aircraft leasing, fintech, and Global Capability Centres (GCCs), it said.
"The delegation also visited some key facilities within GIFT City to gain first-hand insights into the integrated smart city infrastructure and institutional ecosystem developed to support international financial services operations," it further stated.
The visiting delegates showed keen interest in understanding the business and collaboration opportunities emerging from GIFT City, particularly in areas related to cross-border financial services, fintech innovation, international trade and digital finance.
The visit by the BRICS delegation provided an important opportunity to showcase GIFT City's integrated financial and urban ecosystem, and to exchange perspectives on areas such as cross-border investments, sustainable finance, fintech innovation and international economic cooperation, GIFT City managing director and group CEO Sanjay Kaul said.
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