GIFT City (https://giftsez.com/) is a planned business district in Gujarat, India and is situated at a 20 minutes’ drive from the Ahmedabad Airport. It is India’s first International Financial Services Centre (IFSC) and has been set up for financial institutions to conduct Overseas businesses that are currently carried out by their offices in other countries. An IFSC Unit for a financial institution or a bank is treated as “Non-Resident” under the Indian Exchange Control Regulations is akin to a foreign territory and the transactions carried out there are permitted only in foreign currency and not in INR. The scope of financial services includes banking, capital market, global treasury centres, insurance and fintechs, to name a few. It is designed to be at or above par with globally benchmarked business districts such as Singapore, Dubai (DIFC), etc.