The number of stakeholders has also expanded exponentially. Fund Management Entities (FMEs) operating in GIFT City have increased from just eight in March 2020 to 202 (as of now), representing a 25-fold growth. The number of fund schemes has grown from less than 10 to 313, indicating a rapid increase in product offerings and investment strategies.

GIFT City-based funds have raised US$17.34 billion, with approximately US$17 billion already deployed, highlighting that the ecosystem is not only attracting commitments but also enabling actual investment activity at scale.

Rapid Growth In Ecosystem

The growth in the ecosystem has been supported by increasing participation from both domestic and global fund managers across asset classes, including private equity, venture capital, and public market strategies. The rising number of schemes and capital commitments indicates growing investor confidence and diversification of investment platforms operating from GIFT City.

A. Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC Limited, said, “GIFT City’s evolution into a vibrant fund management ecosystem marks a significant milestone in India’s financial services journey. For ABSLAMC, GIFT IFSC has provided a strong gateway to launch differentiated investment solutions, serve global and NRI investors more effectively, and facilitate domestic investors’ access to overseas opportunities. We remain committed to building scale in offshore assets under management and expanding our global investment capabilities.”

India’s First Operational Smart City

GIFT City is ranked among the top emerging international financial centres globally. It has also strengthened its ranking in the Global Financial Centres Index (GFCI). It is currently ranked 43rd in the GFCI. 

GIFT City is India’s first operational smart city and a leading international financial services centre. The global innovation hub is now broadening its focus areas through development projects, with the aim of integrating finance, technology, education, and lifestyle infrastructure into a single ecosystem. Several major projects launched this year are expected to strengthen its global positioning by 2030 significantly.

Vikas Khemani, Founder & CIO, Carnelian Asset Management and Advisors Private Limited, said, “Our offshore inbound fund based out of GIFT City has been operating seamlessly. We see GIFT City not just as a gateway to India, but as an already established international financial centre witnessing growing participation from both global and domestic players. With rapidly evolving infrastructure and a progressive regulatory environment, GIFT City continues to strengthen its position as a premier global financial hub.”