Nearly half of senior financial services executives in India believe GIFT City in Gujarat could become the country’s next big global financial hub, according to a fresh PwC report released Monday.
The survey by PwC India captures rising excitement about how GIFT City—short for Gujarat International Finance Tec-City—might reshape India’s banking, financial services, and insurance (BFSI) sector. Out of 200 executives polled, 49% pointed to strong growth potential for the city as a key player in global finance.
Even better, 63% said they’re keen to move operations or set up shop there. PwC’s report, called “Moving the Needle on Gujarat’s GIFT City,” spotlights the area’s pull as a spot for tapping global markets, sparking financial innovation, and building top talent.
Sanjeev Krishan, PwC India’s chairperson, called it a game-changer. “GIFT City offers India a real shot at boosting its spot in the worldwide financial services and tech world,” he said. He noted quick wins so far but stressed the need to tackle hurdles like finding skilled workers, improving daily life amenities, and maturing the overall business setup to hit full speed.
On the talent front, 77% of respondents feel GIFT City already has solid finance and tech pros on hand. But demand is heating up for experts in hot areas like blockchain, cloud security, risk tech, and rules for global compliance.
Gayathri Parthasarathy, PwC India’s partner and financial services lead, sees huge momentum. “GIFT City is turning heads as a center for both finance and tech,” she explained. With smart policies and regulations, she added, it could spark the next boom in India’s BFSI and tech scenes.
Businesses aren’t just eyeing GIFT City’s tax perks anymore—they’re betting on it as a smart, long-term base for serving international clients and rolling out cutting-edge ideas. The city is emerging as a playground for testing fresh financial services and tech models, where Indian firms and global giants team up on solutions for tomorrow’s challenges.
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