Gandhinagar (Gujarat) [India], March 26 : Gujarat International Finance Tec-City (GIFT City) India's first operational smart city and maiden International Financial Services Centre has achieving notable improvements in multiple categories in the latest edition of the Global Financial Centres Index (GFCI 37), an official release added.
GIFT City has secured the top rank in Reputational Advantage, climbed from 45th to 40th in the FinTech ranking, and improved its overall ranking from 52nd to 46th place, making significant strides in establishing itself as a premier international financial centre. Additionally, it has retained its position among the top 15 financial centres in the Asia-Pacific region.
GIFT City's strong performance in the GFCI 37 rankings reflects its growing reputation, investor confidence, and its role in driving financial innovation. The improvement in the FinTech ranking underscores its emergence as a thriving hub for financial technology, while its leading position in Reputational Advantage highlights the increasing global recognition of its business-friendly ecosystem, robust regulatory framework, and world-class infrastructure.
Tapan Ray, Managing Director and Group CEO of GIFT City, said, "GIFT City's continued rise in the GFCI rankings is a reflection of India's growing influence in global finance. Our top ranking in Reputational Advantage, significant improvement in FinTech, and strong overall performance reinforce the confidence of global investors and businesses in GIFT City. We remain committed to enhancing our ease-of-doing business, infrastructure, regulatory framework, and talent ecosystem to position GIFT City as a leading international financial hub."
The Global Financial Centres Index (GFCI), compiled by Z/Yen Group, evaluates financial hubs worldwide based on 140 instrumental factors provided by third-party organisations such as the World Bank, Organisation for Economic Co-operation and Development (OECD), and the United Nations. These factors assess financial centres on parameters including business environment, infrastructure, human capital, financial sector development, and overall competitiveness.
"GIFT City continues to progress as an international financial centre, with a particular strength in its business environment, and assisted by the continued development of trade in the Asia/Pacific region." said Mike Wardle, CEO, Z/Yen Group.
As per the GFCI 37 report, 133 financial centres from across the world were evaluated, with 119 making it to the main index. The report underscores the steady rise of emerging financial hubs, with GIFT City's continuous progress reinforcing its ambition to be a preferred global financial destination.
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