India, as per the World Bank’s Global Economic Prospects (GEP) report launched in January 2025, will be the fastest-growing economy aiming to grow at a rate of 6.7% in both FY 2026, and FY 2027. For India, in the pursuit of robust economic growth, the creation of strategic financial hubs marks a significant focus area.
One such prominent hub is Gujarat International Finance Tec-City, more commonly known as GIFT City, in Gujarat, India. This meticulously planned financial and technology hub is poised to redefine the contours of international finance, with its investment friendly policies and incentives for banking, financial services, and insurance (BFSI) entities, including the International Banking Units, re-insurance firms, and the rapidly growing Global Capability Centers (GCC).
To harness this potential, Avasant observes that focused, government-backed initiatives are being put in place to drive growth in the sector, as seen with recent announcement by the Gujarat State Government. The Gujarat Global Capability Center Policy 2025-2030 announced in February 2025, offers key benefits and sectoral support for BFSI entities including benefits up to USD 23.5 M in savings.