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A high-level BRICS delegation visited GIFT City on Friday to gain first-hand insights into India's International Financial Services Centre (IFSC) ecosystem and the opportunities it offers in cross-border finance, fintech, trade, and global business services. The visit comes as India holds the BRICS Chairship for 2026 under the theme "Building for Resilience, Innovation, Cooperation and Sustainability," and prepares 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. Senior officials from GIFT City and International Financial Services Centres Authority (IFSCA) made 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). The delegation also visited 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. 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. Commenting on the visit, Mr Sanjay Kaul, Managing Director and Group CEO, GIFT City, said, "GIFT City is steadily emerging as a globally competitive financial and innovation hub, enabling international financial services and cross-border business from India. 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." According to the press releaseby GIFT City, the 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. (ANI)
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