वित्त मंत्री निर्मला सिथारमन ने GIFT City की प्रगति की समीक्षा की – भारत के IFSC महत्वाकांक्षाओं को बढ़ावा

<p>The <span class="key-term" data-definition="Gujarat International Finance Tec-City — a planned business district in Gujarat aimed at creating a world‑class International Financial Services Centre (IFSC) (GS3: Economy)">GIFT City</span> hosted a high‑level review on 22 May 2026, chaired by <strong>Union Finance Minister <span class="key-term" data-definition="Union Finance Minister Nirmala Sitharaman — the cabinet minister responsible for fiscal policy, budgeting and financial sector reforms (GS2: Polity)">Nirmala Sitharaman</span></strong>. The meeting, attended by the <span class="key-term" data-definition="Principal Secretary to the Prime Minister — senior civil servant who coordinates the Prime Minister’s agenda and policy implementation (GS2: Polity)">Principal Secretary to the Prime Minister</span>, Gujarat’s Deputy Chief Minister and senior officials, examined the progress of the <span class="key-term" data-definition="International Financial Services Centre — a designated zone that offers financial services to global clients under a separate regulatory framework, helping India integrate with world markets (GS3: Economy)">IFSC</span> ecosystem.</p> <h3>Key Developments</h3> <ul> <li>Presentation of sector‑wise growth in banking, capital markets, fund management, insurance, aircraft and ship leasing, fintech, bullion exchange and international education.</li> <li>Discussions on infrastructure, talent ecosystem, ease of doing business, taxation, and residential facilities to make the hub globally competitive.</li> <li>Commitment to align the hub with the vision of <span class="key-term" data-definition="Viksit Bharat @2047 — the government’s vision of a developed India by the centenary of independence in 2047 (GS1: History/GS3: Economy)">Viksit Bharat @2047</span>.</li> </ul> <h3>Important Facts</h3> <ul> <li>More than <strong>1,150 entities</strong> operate in GIFT City across finance, technology and allied services.</li> <li>Banking assets have crossed <strong>USD 110 billion</strong>.</li> <li>Fund‑management commitments exceed <strong>USD 32 billion</strong>.</li> <li>The ecosystem includes <strong>37 banking units, 217 fund‑management firms, 36 insurance companies, 35 aircraft lessors and 36 ship‑leasing entities</strong>, along with fintech firms and international universities.</li> <li>The regulatory oversight is provided by the <span class="key-term" data-definition="International Financial Services Centres Authority — the regulatory body that oversees the IFSC, setting rules for banking, securities, insurance and other services (GS3: Economy)">IFSCA</span>.</li> </ul> <h3>UPSC Relevance</h3> <p>The development of GIFT City illustrates the government's push to create a world‑class <span class="key-term" data-definition="International Financial Services Centre — a designated zone that offers financial services to global clients under a separate regulatory framework, helping India integrate with world markets (GS3: Economy)">IFSC</sp