Lok Sabha Question No. 356 (STARRED), answered on 2025-08-18
Subject: Companies in GIFT IFSC
Ministry: FINANCE
Asked by: Shri Anil Firojiya

*356. Shri. Anil Firojiya:

Will the Minister of Finance be pleased to state:

- (a) The  number  and  type  of  companies  registered  in  GIFT  International  Financial  Services Centre (GIFT IFSC) and whether any increase has been observed under the same during the last five years;
- (b) Whether companies belonging to banking, asset  management  and other financial ecosystems have been included in GIFT IFSC;
- (c) If so, the details thereof; and
- (d) Whether the Government  has adopted any policy or initiative to encourage the development of GIFT IFSC?

## ANSWER

## FINANCE MINISTER (SMT. NIRMALA SITHARAMAN)

(a), (b), (c) & (d): A statement is laid on the Table of the House.

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

## STARRED QUESTION NO. 356

TO BE ANSWERED ON MONDAY, AUGUST 18, 2025/ SRAVANA 27, 1947 (SAKA)

## COMPANIES IN GIFT IFSC

## STATEMENT REFERRED TO IN REPLY TO LOK SABHA STARRED QUESTION NO. 356 RAISED BY SHRI. ANIL FIROJIYA, HON'BLE MEMBER OF PARLIAMENT TO BE ANSWERED ON 18.08.2025 REGARDING 'COMPANIES IN GIFT IFSC'

- (a, b & c) A total of 409 Companies are currently operating in Gujarat International Finance Tec City  -  International  Financial  Services  Centre  (GIFT  IFSC)  as  on  31 st July  2025.    Between  1 st October  2020  and  31 st July  2025,  the  number  of  such  companies  have  grown  from  82  to  409. Further,  banking,  asset  management  and  other  financial  ecosystems  have  been  included  and enabled in Gujarat International Finance Tec City - International Financial Services Centre (GIFT IFSC). The segment wise breakup of 409 companies as on 31 st July 2025 is given below: -
- *Other  Financial  Ecosystem  includes  Market  Infrastructure  Institutions,  Insurance  Companies, Finance Companies etc.
- (d) Over the last 5 years, Government of India has provided several progressive policy measures for development  of  Gujarat  International  Finance  Tec  City  -  International  Financial  Services  Centre (GIFT IFSC), such as - setting up of International Financial Services Centres Authority (IFSCA) as a  unified  statutory  regulator  for  development  and  regulation  of  International  Financial  Services Centres (IFSCs) in  India, notification of new  age financial products and financial services under section 3(1) of the International Financial Services Centres Authority (IFSCA) Act, 2019, such as aircraft and ship leasing, global in-house centres, tax holiday on business income for 10 years out of a block period of 15 years to all IFSC Units provided under section 80-LA of the Income Tax Act, 1961 etc.  To  further  enhance  ease  of  doing  business  in  Gujarat  International  Finance  Tec  City  International Financial Services Centre (GIFT IFSC), the Government has also delegated powers of Development Commissioner under the Special Economic Zones (SEZ) Act, 2005 to International Financial  Services  Centres  Authority  (IFSCA)  and  facilitated  the  launch  of  a  Single  Window  IT System (SWITS) for IFSC Units.

|                                  |   Banking |   Asset Management |   Other Financial Ecosystem* |   Total number of companies |
|----------------------------------|-----------|--------------------|------------------------------|-----------------------------|
| Companies operating in GIFT IFSC |        35 |                100 |                          274 |                         409 |

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