How many companies are being run in Gujarat’s gift city, Finance Minister Sitharaman replied in Lok Sabha
Finance minister nirmala sitharaman news: The government said in Parliament on Monday said that ‘Gujarat International Finance Tech City- International Financial Services Center’ (Gift IFSC) is currently operating 409 companies. Finance Minister Nirmala Sitharaman said in a written reply to a question in the Lok Sabha, between October 1, 2020 and 31 July 2025, the number of such companies has increased from 82 to 409. Apart from this, banking, asset management and other financial ecological systems have been included in the gift IFSC.
He said that in the last 5 years the government has taken several progressive policy measures for the development of gift IFSC, such as the establishment of the International Financial Services Center Authority (IFSCA) as an integrated statutory regulator for the development and regulation of the International Financial Services Centers (IFSC) in India.
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Sitharaman said that the government has handed over the powers of Development Commissioner to the International Financial Services Center Authority (IFSCA) under the Special Economic Sector (SEZ) Act, 2005 to make the business more easy to make the business in the Gift IFSC more and has encouraged the introduction of a single window IT system (SWITS) for IFSC units.
The minister said in a written reply to another question that after Kovid-19, the government has reduced the loan from 61.4 percent of the GDP in 2020-21 to 56.1 percent of the GDP in 2025-26 in 2025-26. In addition, in the written reply to another question, Sitharaman said that despite the weak global trade, the country’s overall exports have reached an all-time high of US $ 824.96 billion in 2024-25.
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He said that this positive trend is also going on in the current financial year and the total exports increased by 5.46 percent during the first quarter. The minister also informed that India’s foreign exchange reserves are sufficient for importing goods for more than 11 months. (Language)
Edited by: Chetan Gour
