New Delhi: The Gujarat International Finance Tec City – International Financial Services Centre (GIFT IFSC) has seen substantial growth over the past five years, with the number of registered companies increasing from 82 in October 2020 to 409 as of 31 July 2025, Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.

In a reply to a question, the Finance Minister said, “A total of 409 companies are currently operating in Gujarat International Finance Tec City – International Financial Services Centre (GIFT IFSC) as on 31 July 2025. Between 1 October 2020 and 31 July 2025, the number of such companies has grown from 82 to 409. Further, banking, asset management, and other financial ecosystems have been included and enabled in GIFT IFSC.”

Furthermore, the reply stated that among these companies, 35 are banking units, 100 asset management firms, and 274 other financial services companies.

The reply also states that 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. DeshGujarat