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Apprehensions of the Gujarat International Finance and Tec-City (GIFT) being a dry place to work may not hold ground anymore. The Gujarat government and GIFT City representatives are believed to be deliberating on relaxing liquor prohibition norms within the SEZ area of the mega financial services centre.
However, real steps towards relaxing such norms may be taken only when a hotel or club comes up within the SEZ area which will house the International Financial Services Centre (IFSC).
While such a relaxation may not mean availability of liquor across premises within the SEZ, special areas for purchase and consumption may be opened up within hotels and clubs on the lines of smoking and non-smoking areas, said RK Jha, Managing Director and Group Chief Executive, GIFT City.
“There is general understanding that liquor prohibition should be relaxed in the SEZ area. The domestic area may continue to face prohibition. However, at present we do not have any hotel or club. Once such a property comes up in a year and a half, we will strongly pursue for such a relaxation,” said Jha.
GIFT City is India’s First Global Financial Hub as GIFT SEZ has been notified by Government of India as India’s first International Financial Services Centre (IFSC) and currently it is the only one in the country. With world-class infrastructure and services being offered as one of India’s model ‘Smart City’ project it is well placed to compete against other global financial hubs. Any financial SEZ in India will have to compete with financial centres like Singapore in providing similar quality of financial services as well as social infrastructure and lifestyle.
State government sources state that the IFSC at GIFT City should be at par with other such centres like Dubai and Singapore even in terms of social infrastructure, while adding that liquor, being part of lifestyle in services industry, helps in attracting talent from other metros.
“Liquor prohibition has been one of the major dampeners when it comes to relocating to Gujarat, especially for manpower in services industry. There have been past attempts and even now deliberations to relax liquor prohibition norms within SEZs. Permits can be given out to consume within specified areas and something similar could be done in the SEZ area of GIFT City which merits it on various fronts,” a senior state government official stated.
Earlier, the government also made a provision wherein visitors from outside Gujarat could apply for liquor permit at specific places such the Sardar Vallabhbhai Patel International Airport and permit shops at certain hotels within the city by furnishing relevant ID proofs.
Currently, in all 13.4 million sq ft of built-up area has been allotted so far to various companies for commercial, residential and social purposes, amounting to investment commitments worth Rs 9,650 crore in the the domestic and SEZ part of the GIFT City.
