India’s Foremost IFSC Also Provides Hospitality Choices for the Business Traveller

 Mumbai, Maharashtra, Gandhinagar, Gujarat, India

India’s foremost International Financial Services Centre (IFSC) at the Gujarat International Finance Tech City (GIFT City) is one of the vital developing IFSCs in the globe. The IFSC has empowered the Indian Banking and Financial Services and Insurance (BFSI) segment as also other segments like IT/ ITeS, stockbrokers, shipping, legal firms, etc. As trade dealings expand and the IFSC lives up to its potential, hospitality remained something that had business visitors and guests preferring hotels in either Ahmedabad or Gandhinagar. The New Year witnesses GIFT IFSC offer its guests hospitality with ‘Grand Mercure’ unlocking its doors for worldwide working population out of IFSC at GIFT City.

An international financial services center (IFSC) at Hiranandani Signature in GIFT city is created to cope up with the requirements of the clients outside the purview of the domestic economy, tackling flows of finance, financial products, and services across borders. It also makes easy other financial services like fundraising for government individuals and corporations. Insurance companies, pension funds, and mutual funds can conduct asset management and worldwide portfolio diversification, wealth management services. It also permits risk management functions for example insurance and reinsurance. IFSC established within SEZ also grants the extra advantages of worldwide tax management furnishing a business scope for financial intermediaries, accountants, and law firms. Therefore, an IFSC plays a vital function in improving the financial transactional ranking of the nation on a worldwide map.

The IFSC has empowered a number of segments that function from GIFT city, permit them to compete with worldwide players – without the necessity to establish an office at worldwide finance centers like Singapore, Dubai or London. Expansion of the Indian IFSC is crucial, so that its expansion remains in tandem with worldwide IFSCs. As various segments have been permitted to function out of the IFSC with the provision of a unified regulator as also improved connectivity, the Government is eager to uplift this dream fin-tech city scheme.

“To ensure that the IFSC delivers to its potential, there has been a need to ramp up and expedite social amenities and infrastructure, to provide ‘last mile connectivity’,” observed Dr. Niranjan Hiranandani, CMD, Hiranandani Communities. The setting up of a hospitality facility in GIFT City will cope up  with the requirements of seasoned regular travellers who till recently had to stay in hotels in Ahmedabad or Gandhinagar. This will a step closer to obtaining ‘Ease of Doing Business’ in a favourable environment, improving the facilities for the floating populace functioning out of GIFT City, he added.

Situated tactically between Ahmedabad and Gandhinagar, GIFT City defines the Indian BFSI segments pathway to worldwide business. When Prime Minister Narendra Modi launched business activities by ‘ringing the bell’ at the BSE’s worldwide exchange on 09 January 2017, he did so in ‘Hiranandani Signature’, which is where the BSE’s Global Trading Exchange is situated.

The IFSC has been provided sufficient backing by services and facilities, and hospitality for worldwide guests visiting GIFT City is also a given now, with the unveiling of its new property.

By ANJISHNU BISWAS 

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