Power Move: Uday Kotak To Lead GIFT City’s Global Ambitions

The eminent banker is one of the most respected voices in the Indian business circles. The appointment was made through a resolution issued by the Urban Development and Urban Housing Department on February 13, 2026, and comes into effect immediately, until further orders.

According to the government resolution, Adhia, former Finance Secretary to the Government of India and Principal Advisor to the Hon’ble Chief Minister of Gujarat, was appointed as Non-Executive Chairman of the Board of Directors of GIFT City Company Limited on June 19, 2023. The latest order appoints Uday Kotak as Chairman in his place.

The resolution clarifies that the terms and conditions of the appointment will be decided separately at a later stage. At present, only the appointment has been notified.

The resolution has been issued in the name of the Governor of Gujarat and signed by Ms Ankita Shah, Deputy Secretary to the Government, Urban Development and Urban Housing Department. Copies of the order have been forwarded to the Governor’s Secretariat, the Chief Minister’s Office, concerned ministers, and senior officials.

The appointment is seen as a significant administrative development for GIFT City, which is being positioned as India’s premier global financial and fintech hub. A change in the chairmanship is expected to play a key role in shaping the strategic direction and governance of the project in the coming period.