The foreign lender has moved to a larger office at GIFT City as it scales corporate banking, trade finance, and financial markets operations in India’s international finance hub.
Standard Chartered has expanded its presence at Gujarat International Finance Tec-City (GIFT City), with the foreign bank moving into larger office premises as it increases investments in offshore banking and international financial services operations in India.
The bank said the expansion reflects its long-term commitment to GIFT City, which has emerged as India’s flagship international financial services centre aimed at attracting global capital, offshore banking activity, and multinational institutions.
The new office was inaugurated by P D Singh in the presence of senior executives, officials from the International Financial Services Centres Authority (IFSCA), GIFT House, and representatives from the British High Commission.
Standard Chartered was the first foreign bank to begin operations at GIFT IFSC and has steadily expanded its corporate and institutional banking operations in the financial hub over the past few years.
The bank said it has invested heavily in expanding its product suite, technology capabilities, and talent base at GIFT City. It now operates one of the largest on-ground teams among foreign bank International Banking Units (IBUs) in the financial centre.
GIFT City has become a growing focus area for foreign banks and multinational financial institutions looking to access India’s markets through an internationally regulated offshore framework. The centre has seen increasing activity across trade finance, treasury operations, derivatives, aircraft leasing, fund management, and cross-border financing.
Standard Chartered currently offers lending, trade finance, cash management, and financial markets solutions through its GIFT City operations. The bank said it was also the first to launch a foreign portfolio investor offering at the IFSC and has introduced products including structured rate loans, offshore derivative instruments, and gold hedging solutions.
According to the bank, funded assets at its GIFT City operations have grown by more than 150% over the past two years, while the lender has also expanded its derivatives business in the centre.
P D Singh said GIFT City is increasingly becoming an important gateway for international investors seeking exposure to India’s economic growth.
“In line with the Government’s vision of Viksit Bharat, GIFT City is rapidly emerging as a critical gateway for international investors and institutions, looking to be a part of India’s economic growth story,” Singh said.
He added that the expansion reinforces the bank’s long-standing commitment to India and acknowledged the role played by the government and IFSCA in building financial infrastructure comparable to global markets.
Sachin Shah said the bank plans to continue investing in talent, infrastructure, and technology to support offshore banking growth.
“GIFT City represents a transformative milestone for India’s global financial ambitions,” Shah said.
India has been positioning GIFT City as a competing international financial centre for global banking and investment activity, with regulators offering tax incentives and liberalised frameworks to attract foreign institutions.
For international banks such as Standard Chartered, the expansion also reflects rising demand from multinational clients seeking cross-border connectivity with India’s markets through offshore banking structures.
Key Takeaways
- Standard Chartered has shifted to a larger office at GIFT City
- The bank says funded assets at GIFT City have grown over 150% in two years
- Standard Chartered operates one of the largest foreign bank teams at GIFT IFSC
- The bank offers lending, trade finance, and financial markets services from GIFT City
- GIFT City is emerging as a key offshore banking and international finance hub for India