DAVOS, Jan 20: Showcasing India’s own international financial services centre, GIFT City, before the world, its chief, Sanjay Kaul, has said global players are seeing it as a pathway to access Indian markets and as a base for the Asia-Pacific.
Kaul, who has more than 40 bilateral meetings and several roundtable meetings lined up during the World Economic Forum Annual Meeting here, said the world needs to know that there is a smart city and an international financial services centre in our part of the world.
Speaking to PTI, GIFT City’s MD and group CEO said the Indian economy is growing in leaps and bounds, and therefore, it is also very important for the country to be an economic powerhouse for global financial transactions.
“GIFT City is an answer to that with strong macro and microeconomic stability and stable governance,” he said.
“We need a strong financial system where India talks to the world and the world talks to India. So Gift City is the answer to that,” he added.
Kaul said that in a short time, he is seeing immense interest from global players who would want to set up operations in GIFT City for various reasons.
“One is India has got a very big market, a very strong economy which is growing leaps and bounds. So naturally, they would want to be here, and they see GIFT City as an opportunity or a path to enter India for financial transactions. That’s how we are positioning, and that is what we are here for,” he said.
“We are seeing here that global players recognize that there is an opportunity here through which one can take to Indian markets, second use Gift City as a base to reach out to our part of the world, or say the Asia Pacific markets. That is number two.
“And of course in the long run, we become a centre where we have global transactions also happening within India’s jurisdiction but with regulations that are at par with other financial services centers of the world,” he said.
Asked about the top reasons he would give global players to come to GIFT City, he said everyone requires stability, both in terms of political governance and policies, and that India offers it.
“Number two, the economic growth of India is something that attracts everyone. And no one wants to be left out of India’s growth story. So that is what we are telling them,” he said. (PTI)
Follow our WhatsApp channel
