24/09/2017
News Update:
The Union finance ministry is finalising norms for a unified regulator for the International Financial Services Centre (IFSC) situated at GIFT City in Gandhinagar, Gujarat.
*GIFT has clocked $7 billion of business* in banking, insurance, and capital markets so far.
According to the Global Financial Centres Index (GFCI),
"India’s Gift IFSC figures 10th among international financial centres that have huge potential to grow." Shanghai and Singapore are among the top three, but
"GIFT IFSC is above New York, Seoul and Luxembourg."