After years of sops, the government has finally given the international financial services centre its own regulator and taken steps to address some concerns.
It’s become somewhat of a running joke that every year, since 2015, the Narendra Modi government has doled out at least one new sop for what is often seen as the prime minister’s pet project—the Gujarat International Finance Tec-City. Outside of financial circles, though, it’s often not entirely clear what GIFT City really is, the potential it has and the challenges it faces.
GIFT City is what is known as an international financial services centre—touted as an attempt by the government to build a rival to financial hubs such as Singapore and Hong Kong. A more formal definition, from the …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com