AHMEDABAD: India’s first International Financial Services Center (IFSC) at Gujarat International Finance Tec-City (GIFT City) will take the centre-stage at the Vibrant Gujarat Global Summit next week, as the global big-wigs of the financial world congregate here to explore the business potential.
Prime Minister Narendra Modi will inaugurate BSE’s International Stock Exchange at GIFT IFSC on January 9.
RBI Governor Urjit Patel and Union Finance Minister Arun Jaitley will address the captains of global financial markets on the ‘Business Potential of IFSC in India’ on January 11.
After Bombay Stock Exchange (BSE), capital market major National Stock Exchange (NSE) is also planning to open its International Exchange at GIFT IFSC soon. In about a year’s time, GIFT IFSC has already crossed business transactions worth over $1.5 billion, with several banks launching operations under International Banking Units.
The GIFT-IFSC is fast emerging as a Global Financial Hub, said Ajay Pandey, MD & Group CEO of GIFT Company Ltd.
The sessions on IFSC will be attended by representatives of global financial majors such as Dubai Gold & Commodities Exchange (DGCX) and Chicago Mercantile Exchange (CME Group) and Bank of America.