As of July 31, 2025, a total of 409 companies are operating in the Gujarat International Finance Tec City – International Financial Services Centre (GIFT IFSC), Finance Minister Nirmala Sitharaman informed Parliament.

In a written reply in the Lok Sabha, she highlighted that the number of firms in GIFT IFSC has grown nearly fivefold in less than five years — from 82 on October 1, 2020, to 409 by July 2025.

The centre now hosts a wide range of entities, including those in banking, asset management, and allied services, alongside other financial segments.

To support GIFT IFSC’s growth, the government has implemented several policy measures. These include establishing the International Financial Services Centres Authority (IFSCA) as a unified regulator, delegating powers of the Development Commissioner under the SEZ Act, 2005 to IFSCA, and introducing the Single Window IT System (SWITS) to streamline approvals.

News source: KNN India