{"id":197840,"date":"2022-07-29T18:41:26","date_gmt":"2022-07-29T13:11:26","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=197840"},"modified":"2022-07-29T18:41:26","modified_gmt":"2022-07-29T13:11:26","slug":"gift-city-indias-upcoming-economic-and-financial-hub","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/gift-city-indias-upcoming-economic-and-financial-hub\/","title":{"rendered":"GIFT City: India\u2019s upcoming economic and financial hub"},"content":{"rendered":"\n

Source: <\/b>The post is based on the articl<\/span>e \u201cGIFT City: India\u2019s upcoming economic and financial hub\u201d <\/b>published in <\/span>Indian Express <\/b>on 29th July 2022.<\/b><\/p>\n

What is the News?<\/b><\/h5>\n

India is one of the fastest-growing economies in the world. The country needs to expand its economic and strategic activities globally and <\/span>GIFT City, <\/b>an emerging global financial hub has a pivotal role to play in achieving this vision.<\/span><\/p>\n

What is GIFT City?<\/b><\/h5>\n

GIFT (Gujarat International Finance Tec-City) is located in Gandhinagar, Gujarat.<\/span><\/p>\n

It <\/span>consists of a multi-service Special Economic Zone (SEZ), which houses India\u2019s first International Financial Services Centre (IFSC) and an exclusive Domestic Tariff Area(DTA).\u00a0<\/span><\/p>\n

The social infrastructure in the city includes a school, medical facilities, a proposed hospital, GIFT City business club with indoor and outdoor sports facilities. It also includes integrated well-planned residential housing projects making GIFT City a truly \u201cWalk to Work\u201d City.\u00a0<\/span><\/p>\n

What is GIFT IFSC?\u00a0<\/b><\/h5>\n

India\u2019s first International Financial Services Centre(IFSC) has been operationalised in GIFT City.\u00a0<\/span><\/p>\n

GIFT IFSC provides services related to capital markets, offshore insurance, offshore banking and asset management, aircraft and ship leasing, and ancillary services.\u00a0<\/span><\/p>\n

It houses two international stock exchanges with a combined average daily trading volume of over $11 billion. Soon, an international bullion exchange is also going to be launched.<\/span><\/p>\n

Note:<\/b> An IFSC caters to customers outside the jurisdiction of the domestic economy. Such centres deal with flows of finance, financial products and services across borders.<\/span><\/p>\n

What are the Foreign Universities present in the GIFT IFSC?<\/b><\/h5>\n

The Government of India has recently announced permitting campuses of foreign universities in GIFT IFSC, free from domestic regulations. This has created a buzz globally.\u00a0<\/span>Many Australian, UK and US-based universities have shown an interest in establishing their presence in GIFT IFSC.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cGIFT City: India\u2019s upcoming economic and financial hub\u201d published in Indian Express on 29th July 2022. What is the News? India is one of the fastest-growing economies in the world. The country needs to expand its economic and strategic activities globally and GIFT City, an emerging global… Continue reading GIFT City: India\u2019s upcoming economic and financial hub<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10500],"class_list":["post-197840","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/197840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=197840"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/197840\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=197840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=197840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=197840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}