GIFT City is repositioning its growth strategy with a strong focus on Global Capability Centres (GCCs) and centres of excellence, marking a clear shift from its earlier emphasis on banking and financial services. The plan was outlined by Managing Director and Group CEO Sanjay Kaul at the World Economic Forum in Davos, where he said GIFT City is moving from pilot ideas to firm business commitments.
Strategic push towards GCCs
Over the last 6 to 8 months, GIFT City has seen rising interest from companies looking for cost-effective locations for global support functions. This demand is especially strong from firms that already have manufacturing operations in India. GCCs are now emerging as a key growth driver, aligning well with Gujarat’s strong industrial base and creating links between manufacturing and back-office operations.
Current scale and future targets
GIFT City has already built a sizable presence across sectors:
- Banks operating: 37 entities from the Middle East and Asia-Pacific
- Asset management entities: 194 registered or operational
- Current workforce: 27,000
- Target workforce by 2030: 100,000
- Aircraft leased: Over 400 through GIFT City entities
The planned expansion reflects almost a 4-fold increase in workforce, largely driven by GCCs, GICs, and centres of excellence.
Rising global interest and trade support
Kaul said the GCC-focused strategy has drawn attention from global companies, including DP World and Abu Dhabi Bank, which are exploring operations in GIFT City. He added that bilateral trade agreements, such as the ongoing India-EU free trade talks, help reduce investment uncertainty and speed up foreign investment decisions.
Financial services remain strong
Even as GCCs gain priority, traditional segments continue to grow. Asset management remains steady with 194 entities, while aviation finance has emerged as a major success, with over 400 aircraft leased through GIFT City-based entities. These trends show GIFT City’s ability to support specialised global operations beyond standard banking.
Infrastructure and talent readiness
GIFT City is investing in social infrastructure and talent development to support its growth goals. These efforts aim to meet the needs of GCCs and innovation hubs and to support the workforce target of 100,000 by 2030.
With cost advantages, strong regulation, and quality infrastructure, GIFT City is positioning itself as a key destination for GCCs and global business operations in India.
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