Q. The GIFT City is located on the outskirts of __?
Answer:
Ahmedabad
Notes: Prime Minister Narendra Modi has revealed a new vision for GIFT City, his pet project on the outskirts of Ahmedabad. GIFT City, launched in 2011, aims to become a financial capital to rival Mumbai. The city is designed to be a dynamic ecosystem for international finance and technology services. It currently hosts over 20,000 employees from 400-plus companies, including major names such as Oracle and Bank of America. Modi envisions GIFT City expanding into a global center for climate financing, aligning with India’s goal to achieve net-zero emissions. Regulatory changes are being considered, such as allowing direct listing of Indian firms on foreign exchanges at GIFT City. The city already offers a range of incentives for investors, including significant tax benefits. To make GIFT City more vibrant and attractive, the proposed master plan includes housing projects, entertainment facilities, the completion of a riverfront area, and the activation of the Metro network. Prime Minister Modi’s involvement in reinvigorating GIFT City’s development marks an important next chapter for the ambitious project.