Rising Star: GIFT City Poised to Become Global Treasury Hub

GIFT City in Gujarat is gaining significant traction as an attractive location for establishing Global and Regional Treasury and Commodity Trading Centres (GRCTCs). According to a report by global accounting firm EY, its appeal lies in the lower operational costs and increasing incentives available, positioning it strategically within the evolving financial landscape.

Hemal Shah, a partner specializing in Financial Services Risk Management at EY India, emphasized the pivotal role of GIFT City and the International Financial Services Centres Authority in positioning India as a preferred destination for these centers. In an atmosphere of global market volatility, multinational corporations are reassessing liquidity management and trading strategies.

The EY report highlights GRCTCs as a strategic response, facilitating companies to streamline operations, enhance transparency, and optimize financial tasks across borders. While traditional hubs like Singapore and Dubai remain benchmarks, emerging locations like GIFT City are gaining recognition due to their competitive advantages, heralding a promising future for India's role in global finance.

(With inputs from agencies.)