GIFT City has moved up nine places to 37th in the Global Financial Centres Index, the twice-yearly ranking compiled by London-based Z/Yen. The 40th edition, released on September 16, placed the Gandhinagar centre at 37, up from 46 in the previous edition, Business Today reported. GIFT City is also the only Indian centre in the Asia-Pacific top 15, according to the ANI report carried by The Tribune.
What the index measures
The GFCI mixes two inputs. One is a set of hard indicators on business environment, infrastructure, human capital, the finance sector and reputation; this edition used 144 of them. The other is a running online survey in which finance professionals rate centres they know. This round drew 39,531 assessments, both DeshGujarat and Business Today reported.
The survey half matters for reading GIFT City’s jump. A rise from 46 to 37 means people who work in finance rate the place higher than they did six months ago, and that more of them now know it well enough to rate it. It does not mean GIFT City handles more money than centres below it. Scores in the middle of the table sit close together, so a few points can move a centre several places in either direction.
The same report listed GIFT City among 15 centres that respondents expect to grow in importance over the next two to three years. Seoul Economic Daily reported that New York, London, Hong Kong and Singapore held the top four places, with six Asia-Pacific cities in the top ten and Dubai ninth.
Why the ranking matters in Gujarat
Rankings like this feed into decisions by fund houses, banks and lessors choosing where to base a desk. GIFT City’s pitch rests on tax breaks and a single regulator, the International Financial Services Centres Authority. DeshGujarat reported that Sanjay Kaul, managing director and group CEO of GIFT City Company Ltd, credited Union and state policy, the IFSCA framework and the centre’s infrastructure for the rise.
The ranking follows real growth on the ground. As we reported earlier this month, the number of fund management entities registered at the IFSC has nearly quintupled since 2022. For people in Gandhinagar and Ahmedabad, that growth shows up as office leasing, housing demand around GIFT City and a new class of finance and compliance jobs that used to require a move to Mumbai, Singapore or Dubai.
A mid-table rank also shows the distance still to cover. Dubai, the centre GIFT City most often competes with for Indian money and talent, sits in the global top ten.
What to watch
- March 2027. The next edition (GFCI 41) will show whether the gain holds. Survey-driven jumps can reverse.
- Depth over headcount. The more telling numbers are assets under management, banking transactions and the share of jobs at IFSC firms that are front-office rather than back-office.
- Living costs. GIFT City still depends on professionals who commute from Ahmedabad. Housing, schools and transport inside the zone will decide whether senior staff relocate.
Sources: Business Today, DeshGujarat, The Tribune (ANI), Seoul Economic Daily, Long Finance / Z/Yen
This report was compiled and written with AI assistance from publicly reported sources, and reviewed for accuracy.