Experts bat for central govt buying stake in GIFT City to boost credibility

Suggest more incentives to help attract investments from Hong Kong

Experts believe that senior bureaucrat Injeti Srinivas’s appointment as chairman of the International Financial Services Centre Authority (IFSCA) for GIFT City, based in Gandhinagar, has opened up many opportunities, and they have urged the Centre to buy a stake in the IFSC.

After the Gujarat government bought IL&FS’ 50 per cent holding (it now has full control), there is a possibility that it could part with some of this stake.

Aditya Sesh, managing director of Basiz Fund Service, said: “It would be good if the Centre holds an indirect stake in GIFT City (Gujarat International Finance Tec-City) ”. He said this could