Japanese Banks Choose GIFT City: Unlocking Opportunities for Growth and Investment

Introduction

GIFT City has become a flourishing financial hub, with businesses contributing to India's economic landscape. Two Japanese banks have registered to join the city's growing financial sector. Such expansion, authorized by regulatory body IFSCA, is set to boost India's economic growth.

GIFT City - The Indian government's ambitious project

GIFT City - The Indian government's ambitious project: The International Financial Services Centres Authority (IFSCA) is the regulatory body for Indian special economic zones such as the GIFT City. GIFT City offers an environment comparable to international standards with its ease of doing business procedures, processes and laws becoming a benchmark. Over 550 businesses with assets totaling USD 47 billion, have registered and commenced operations within the city, marking a substantial contribution to India's economic landscape. Businesses have responded well to the ease of doing business at GIFT City.

GIFT City - A hub of global financial network

GIFT City has become a hub of the global financial network with over 78 fund managers and 88 alternative investment funds at the tax-free city. Additionally, 122 aircraft assets have been leased out in the city, marking a substantial contribution to India's economic landscape. The growing stature of GIFT City has led to two Japanese banks registering, with more expected to follow, as the Indian government seeks to establish the city as a center for global business.

Japanese banks join other global banks at GIFT City

Two Japanese banks have registered at GIFT City, adding to its growing stature as a hub for international financial activities. The city's financial sector is expected to play a key role in India's economic growth. The IFSCA chairman, K. Rajaraman, is promoting the benefits of being in Tax-Free GIFT City and more Japanese banks are expected to register soon.

Conclusion

GIFT City unlocks opportunities for growth and investment, with more businesses and funds expected to join.