The report highlights the evolving role of GIFT City in attracting international banking, capital markets, and offshore financial activity to India.
HSBC India and EY India have jointly released a report on Gujarat International Finance Tec-City (GIFT City), as international financial institutions continue increasing their focus on India’s offshore financial services ecosystem.
The report examines the growth of GIFT City as an international financial services centre and highlights opportunities across banking, capital markets, investment management, insurance, aircraft leasing, and cross-border finance.
The development comes as India positions GIFT City as a gateway for international banking and investment activity through a globally aligned regulatory and tax framework.
Located in Gujarat, GIFT City has emerged as a major focus area for foreign banks, financial institutions, asset managers, and multinational companies looking to access India-linked financial opportunities through offshore structures.
International banks operating in India have steadily expanded their presence at GIFT City over the past few years, particularly across treasury operations, trade finance, derivatives, external commercial borrowing, and foreign currency transactions.
The HSBC-EY report also reflects growing institutional interest in understanding how India’s international financial services ecosystem is evolving as regulators continue introducing frameworks aimed at attracting global capital and financial activity.
GIFT City operates under the oversight of the International Financial Services Centres Authority (IFSCA), which has introduced multiple regulatory reforms to encourage offshore banking, fund management, leasing, and fintech activities within the centre.
The report comes at a time when competition among global financial hubs is intensifying, with India seeking to position GIFT City alongside established international finance centres in Asia and the Middle East.
For multinational financial institutions, GIFT City is increasingly becoming a strategic base for managing India-related transactions while maintaining access to international financial markets and foreign currency operations.
The expansion of services within the centre has also contributed to rising activity across structured finance, wealth management, capital markets, and international trade-linked banking services.
As foreign institutions continue strengthening operations in GIFT City, the ecosystem is expected to play a larger role in India’s broader ambitions of increasing cross-border financial integration and attracting international investment flows.
Key Takeaways
- HSBC and EY have released a report focused on GIFT City
- The report highlights opportunities across offshore banking and financial services
- GIFT City continues attracting foreign banks and multinational institutions
- India is positioning GIFT City as a global financial hub
- Cross-border finance and offshore banking activity at GIFT City are expanding