GIFT allots 5 lakh sq. ft space to Reliance Capital Limited

Gujarat International Finance Tec City (GIFT City)


  • During the Vibrant Gujarat Global Investor Summit 2007, the idea of a city on the lines of International Financial Service Centre (IFSC) in India was mooted.
  • The Government of Gujarat formed a Joint Venture Company “Gujarat International Finance Tec-City Company Limited” (GIFTCL).
  • The partners in the joint venture are Gujarat Urban Development Company Limited (GUDCOL) (a Government of Gujarat undertaking) and Infrastructure Leasing & Financial Services (IL&FS) for the development of IFSC.


  • East China Architectural Design & Research Institute, which has also planned the modern-day Shanghai, and Fairwood Consultants India were chosen for the planning of the city.
  • The development of the project is planned in 3 phases of 4 years each with a budgeted cost of Rs. 70,000 crores.
  • GIFTCL planned to develop an area of 85 million sq ft. on a turnkey project to ensure that the city has world-class facilities for connectivity, communication, technology, societal services, etc. for an enriched living and work experience.
  • GIFT city (“GIFT” or “The City”) is proposed to be a global Financial and IT Services Hub in the lines of Global Financial Centres such as Singapore, Paris, Shanghai, etc.
  • GIFT will serve us a benchmark for the SMART CITIES being planned by the Government of India and will be a paradigm shift in the way India cities are developed.
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  • GIFT is located on the banks of river Sabarmati and is a financial Central Business District between Ahmedabad and Gandhinagar in Gujarat.
  • The City is strategically located and is well connected to the cities of Ahmedabad (12 kms from the airport) and Gandhinagar (8 kms).


  • The City is going to be a business hub attracting I.T. Tech firms, Banks, Stock Exchanges, Educational Institutions and others
  • GIFT is having a Special Economic Zone (SEZ) with all the tax incentives (exemption from VAT, Customs Duty, Corporate Income Tax except MAT) for the companies in order to help them to compete with global players.
  • GIFT will also have a International Education Zone which will be a base of renowned global universities to set-up their extensions here.
  • Many companies have shown their interest in setting up their units in GIFT city.
  • Some of the noted companies who have been allotted space for construction and who have committed to set up their operations are
    • WTC Noida Development Company Limited’s World Trade Center,
    • BSE Brokers’ Forum's BSE Tower housing its members offices
    • Narsee Monjee Educational Trust
    • YES Bank
    • IDBI Bank
    • Bank of Baroda
    • HDFC Bank
    • Syndicate Bank
    • Brigade Group
    • Hiranandani Group
    • Sterling Group
  • The companies have earmarked more than Rs. 10,000 crores for developing and setting up their operations.


  • The infrastructure development is meticulously planned to ensure the best in world technology is implemented. Some of the unique developments which are being done are:

    • District Cooling System (DCS) – The city will have a centralized air conditioning system which saves electricity and is also cheaper
    • Automated Waste Collection System (AWCS) – The solid waste generated in the city will be automatically collected through a vaccum system comprising of underground pipelines. The waste will be treated with plasma gasification
    • Underground Utility Tunnel – This will help in the DCS, AWCS and water supply across the city.
    • Electricity – The city will be equipped with a 1,000 MW electricity supply with underground cables and is planned to be 99.999% reliable (about 5 minutes of electricity outage per year) with the help of ABB group
    • Piped Gas – The buildings and residences will be connected with pipelines and gas will be supplied through them by GSPL (State owned company for gas transmission)
  • GIFT is being developed on an integrated concept and as such there is a concentrated effort to ensure that people residing have access to all the required modern amenities. To ensure the objective, following Projects have been allotted space in GIFT City and are under development:

    • State-of-the-art office towers – GIFT One & GIFT Two (completed)
    • World Trade Centre
    • Tier IV Data Centre (Tata Communication) - completed
    • ICSE School (Jamnabai Narsee School) - operational
    • Skill Development & Training Centre (Global Skill Foundation)
    • Multi-Specialty Hospital (Sterling Hospital)
    • Business Club – under construction
    • Office Buildings in GIFT IFSC (GIFT SEZ) (Brigade Group & Hiranandani Group)
    • 4-Star Hotel
    • Residential Apartments
    • Retail Shopping Mall
  • In August 2012, GIFT won the most prestigious award at the 'Infrastructure Investment Awards – 2012' organized by World Finance Group in the category of 'Best Industrial Development & Expansion'


  • In April 2015, GIFT City was officially inaugurated by the Union Finance Minister Arun Jaitley. During the occasion, the Finance Minister also released a booklet on rules governing IFSC with guidelines for conducting of various businesses.
  • The government is also working on appointing a regulator for IFSC which will help the city to develop itself.
  • Arun Jaitley also noted that IFSC needs to be given State support by providing them with a supportive tax regime. This will help them to compete with the international IFSC.
  • The Government of India is planning for development of SMART cities across India and GIFT will be a city which the planning and development authorities of such SMART cities will look up to while developing them.

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