Gift city located at 7Km from capital of gujarat gandhinagar and 20 km from finance city of state ahmedabad . GIFT City is the first smart city in operation in India. It features sustainable master planning and top-notch infrastructure development, making it on par with or better than other globally recognized cities like London, Shanghai, New York, Hong Kong, Singapore, Dubai, etc.
For the past few years, the title of India’s “Gift City” has been making headlines. It is thought that in the near future, this may develop into an important worldwide financial hub. Its goal is to become one of the world’s top international financial centers, according to the government.
At Gandhinagar’s GIFT City, extensive infrastructure development is underway, increasing the total land size to approximately 3,400 acres. According to him, GIFT City’s riverside would be transformed into a world-class shopping and entertainment destination. carried out. By mid-2024, GIFT City will have metro services in place.
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What is GIFT City?
GIFT City is Gujarat International Finance Tech-City in its entirety.
This one is a commercial district that is being built in Gujarat right now. GIFT City is the first smart city in operation in India. It features sustainable master planning and outstanding infrastructure development, bringing it on par with or better than other globally recognized cities like London, Shanghai, New York, Hong Kong, Singapore, Dubai, etc.
Official statements suggest that Gujarat International Finance Tech City will significantly advance India’s goal of creating smart cities by serving as a key hub for the expanding technology and finance industries. The planning of GIFT City was first proposed in 2007 and was given to the East China Architectural Design and Research Institute (ECADI), which is recognized for having planned a large portion of modern-day Shanghai.
The world’s major countries are interested
GIFT IFSC during these discussions, including those from the United Arab Emirates, Japan, Australia, Singapore, and the United States. In a recent speech, Prime Minister Narendra Modi stated that GIFT IFSC is a key component of India’s fintech strength and that the nation is among the fintech marketplaces with the highest rate of growth in the world. According to him, GIFT City could end up serving as the entry point to the global fintech industry
Google in gift city gandhinagar
In order to set up its global fintech hub, internet giant Google Inc. recently purchased a whole floor of office space in Fintech One, a commercial tower at Unity Office Parks, owned by Alpha Group, at the Gujarat International Finance internet-City (GIFT) in Gandhinagar. Google India, the company’s Indian division, has agreed on a 10-year long-term lease with Alpha Office Park, with the option to extend the lease for an additional five years after the first five years.
Top companies in gift city gandhinagar
In Gift City, Gandhinagar, there are many big companies like Tata Consultancy Services Ltd., Adani Township And Real Estate Company, shivalik gift city project, Lucky Management, Hiranandani, World Trade Centre, Regalia By Nakshatra Group, Tattva Ads, Akshar Tech, Arihant Bio Fertichem Pvt Ltd, and Gujarat International Finance Tec-City Company Ltd. Additionally, well-known companies like Google and IBM are also there. also bank like Yes bank, state bank of india, bank of baroda, kotak mahendra bank and some of foreign bank like JP morgan Honk-kong & shanghai bank corporation Ltd. These companies are important for the city because they bring jobs and contribute to its development.
What is GIFT City benefits?
GIFT City gives companies big tax breaks for 10 years. They don’t have to pay as much tax on their income, investments, or when they sell units there. Plus, they don’t need to worry about dividend distribution tax or long-term capital gains tax on investments made in India from GIFT City.
Upcoming commercial projects in gift city
New companies are planning to start operations in GIFT City. Aside from Wipro, Accenture is also looking to establish an office there. Transworld Group aims to invest ₹2,000 crore for ship and aircraft leasing activities, while StoneX Group will open a bullion trading desk.
