GIFT IFSCA can be the gateway to bring the USD 100 trillion in India : Mr. K Rajaraman, Chairman, IFSCA

GIFT IFSCA can be the gateway to bring the USD 100 trillion in India : Mr. K Rajaraman, Chairman, IFSCA

PHDCCI, along with NSE IX, organised a “GIFT CITY Conference and Expedition 2024” on 21-Mar-2024 at GIFT City, Gandhinagar, Gujarat. The aim of the PHDCCI’s delegation to Gujarat International Finance Tec-City (GIFT City) is to explore the potential of setting up their business operations in India’s first International Financial Services Centre (IFSC). The delegation comprised more than 160 delegates across the country and around the globe.

Mr K Rajaraman, Chairman IFSCA, the Chief Guest for the Conference gave detailed insight on various aspects of GIFT City and as to why this is the right time for the Indian industry to work towards global investments across the sectors. He said that India has several  opportunities staring at us and GIFT city is well poised to serve these. India needs over $10Tn for green reforms in Industry. Similarly Indian infrastructure needs massive investment over the next  several decades. On the other hand there is $100Tn sitting in capital outside India among sovereign funds, pension funds and insurance companies. GIFT IFSCA is the gateway to bring these investments into these opportunities.

Mr. Sanjeev Agrawal, President, PHDCCI formally welcomed the Industry Delegation to GIFT City from across the country. He said that PHDCCI is impressed by the growth and potential of GIFT City as a preferred destination for financial services in India and abroad. Gift City, as we see today, stands as a testament to visionary leadership and the relentless spirit of innovation of our Prime Minister Shri Narendra Modi ji. It represents not just the economic aspirations of Gujarat but also embodies the futuristic vision of India, making strides in finance, technology, and sustainable development.

The journey of Gift City is a remarkable narrative of turning dreams into reality, and it serves as a beacon of possibilities when ambition meets action. As we walk through this city, we are not just witnessing an architectural marvel but a hub of opportunity, a melting pot of cultures, and a symbol of India’s place on the global stage.

He also formally announced the opening of PHDCCI GIFTCITY Chapter with the active support from the GIFT City authorities.

Mr. Hemant Jain, Sr. Vice President, PHDCCI gave the Introductory Remark to begin the Conference. He said that Gift City represents the epitome of India’s ambition – to be a leader in the fields of finance, technology, and sustainability. It is a place where innovation meets opportunity, where the future of commerce and industry is being shaped. And today, we gather here not just as participants but as architects of that future.

This conference, set against the backdrop of Gift City’s iconic skyline, is a testament to our commitment to not only keep pace with the changing times but to lead the charge towards a prosperous future.

Mr. Saket Dalmia, Immediate Past President, PHDCCI was excited to see the enthusiasm amongst the industry participants at the Conference. He ensures that this successful second edition of the GIFT City Conference and Expedition shows the interest level of the industry towards being a part of the growth journey of GIFT City. He ensured GIFT City that such initiatives from PHDCCI will continue to happen to engage even more with GIFT City.

Mr.Balasubramaniam Venkataramani , MD & CEO, NSE IX shared his view on the listing of the Indian companies to become globally competitive. He said that through NSE IX companies in India will be able to list on NSE in INR and on NSE IX in USD to raise money from overseas investors.

Mr. Dipesh Shah, Executive Director, IFSCA gave a comprehensive presentation on the various recent developments in IFSCA on how it is being made developed to keep pace with growing global financial market.

Mr. Sandip Shah (Head of Business, GIFT IFSCA) briefed the industry delegation about the various facilities and incentives available for the entities operating in GIFT City. They also discussed the recent developments and future plans of GIFT City as a global financial hub,  Also Highlighted recent regulatory development in GIFTCITY.

Dr. Ranjeet Mehta, Executive Director, PHDCCI said Gift City is set to revolutionize the business landscape in India. I believe that it holds immense potential for our country’s businesses. With its state-of-the-art infrastructure, robust regulatory framework, and strategic location, Gift City will attract domestic and international investors, fostering economic growth and creating countless opportunities for our entrepreneurs.

This important and timely Conference was moderated by Dr. B K Sabharwal, Chair, PHDCCI Capital Market and Commodity Market Committee

The delegation also visited the GIFT City campus and witnessed the state-of-the-art infrastructure and facilities available for the entities operating in GIFT City. The event was supported by India International Depository (IFSC) Ltd. Nexgen Financial Solutions Pvt. Ltd, Pantomath Financial Services Group, Resurgent India and EDGE Community.

Recommended For You

About the Author: FI Online