GIFT City to explore regulatory changes to support stakeholders: Sanjay Kaul

Talking to ANI on the sidelines of '2nd GIFT International Banking Forum on Powering India's Global Financial Leadership', Kaul said, "The key takeaways would be one, whether there are still any regulatory improvements that have to be done. We will gather some input, and we will undertake the necessary policy advocacy.

The second International Banking Conference at GIFT City brought together a diverse group of financial leaders, including bankers, fund managers, and wealth managers, to deliberate on expanding India's financial services footprint through the Gujarat International Finance Tec-City (GIFT City).

Kaul underscored GIFT City's central role in India's ambition to become a five trillion-dollar economy by positioning itself as the offshore hub for international business transactions related to India.

Prateek Shah, Managing Director of Financial Services at EY, said, "The objective is really from banking to beyond banking horizons, how GIFT is becoming the gateway for capital that comes into the country and how GIFT as a platform provides services, all the capital needs of Indian corporates and that's what we are sort of discussing and deliberating today with this group."

"I think one of the key enablers for India 2047 will be the funding requirements for India, and how we navigate the whole funding requirements for the larger India requirements through the GIF city will also play an important role in the journey of 2047," said Dipesh Shah, Executive Director, IFSCA. GIFT City is India's first international financial services centre (IFSC) and a global financial and technology hub, located in Gujarat, India. It provides world-class infrastructure and services, including banking, capital markets, insurance, asset management, and fintech, within a special economic zone with attractive tax benefits and simplified regulations to attract global businesses and investments. (ANI)