Gujarat’s Gifty City will be the gateway to India’s vision of becoming a developed nation by 2047: Sitharaman. Loktej Business News

Gandhinagar/New Delhi, 11 January (HIST). Union Finance and Corporate Affairs Minister Nirmala Sitharaman said that GIFT City will be the gateway to the vision of making India a developed nation by 2047. Sitharaman said that India is now driving the growth engine of the world. It can now become a bridge between the developed Western world and the Global South.

Sitharaman, in her address on the second day of the 10th Vibrant Gujarat Global Summit 2024 on Thursday, said the GIFT City is ideally placed to become a gateway to the financial and investment hub. He said that its role is important in fulfilling the vision of making India a developed nation by 2047. He said that Prime Minister Narendra Modi had conceptualized the idea of ​​GIFT City in 2007 when he was the Chief Minister of Gujarat, but now it has become a major international financial hub.

Addressing a seminar organized on the topic ‘Gift City – An Aspiration of Modern India’, the Finance Minister said that to achieve the target of making the Indian economy 30 trillion dollars by 2047, the aim should also be to create diverse fintech laboratories. Talking about the growing operations in International Financial Services Centers (IFSCs), he said that GIFT City now has 3 exchanges including International Bullion Exchange, 25 banks including 9 foreign banks, 26 aircraft leasing companies, 80 fund managers, 50 professional service providers and There are 40 fintech institutions.