FM Sitharaman highlights GIFT City as global hub for financial services

Finance Minister Nirmala Sitharaman on Monday highlighted the role of IFSC GIFT City as a global financial service provider.

During the meeting with top management of HSBC Plc, Sitharaman outlined the roadmap towards Viksit Bharat, towards Atmanirbhar Bharat, sustainability, innovation, adoption of Artificial Intelligence (AI) and inclusivity.

GIFT IFSC, international financial services centre, is located in Gandhinagar Gujarat.

HSBC Group chairman Mark E Tucker and the Board Members of the UK-based financial services firm met the finance minister here.

The meeting focused on India's growth story, Government of India's policy initiatives and HSBC's role in supporting India, the finance ministry said in a post on X.

Members of the top management of HSBC appreciated India's continued growth story, including, the government's focus on broad regulatory reforms, and recent taxation reforms in both direct and indirect taxation, it said.

The dialogue also addressed India's ambition to strengthen global value chains, with HSBC highlighting its role in supporting Make in India, Startup India, Green Energy, AI, and the digital and creative economy and its readiness to contribute through financing, innovation, and global linkages, it added.