Which are the biggest IT companies in GIFT City?

The largest IT occupants include Google, IBM, Oracle, TCS, Infosys, and HCL Technologies. Many of these firms operate out of the Multi-services SEZ zone.

Can foreign universities set up campuses in GIFT City?

Yes, under recent regulations, foreign universities like Deakin and Wollongong (and more recently Coventry University) have been granted approval to establish international branch campuses within the city.

Is GIFT City a Special Economic Zone (SEZ)?

GIFT City is divided into two parts: a Multi-services SEZ (which includes the IFSC) and a Domestic Tariff Area (DTA). The SEZ offers export-related tax benefits, while the DTA is designed for domestic operations.

What kind of financial activities are permitted in the IFSC?

Permitted activities include offshore banking, capital market operations (trading in stocks and derivatives), asset management, aircraft/ship leasing, and international insurance.

How do the tax benefits in 2026 compare to previous years?

The 2026-27 policy framework has signalled a move toward long-term stability, maintaining the 10-year tax holiday while offering a concessional 15% tax rate for IFSC units even after the holiday period ends.

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Companies in GIFT City

GIFT City (Gujarat International Finance Tec-City) has quickly gone from an idea to India's top global financial and technological gateway. It is the first smart city and International Financial Services Center (IFSC) in the country. It has a competitive atmosphere similar to that in Singapore and Dubai. Today, it is home to more than 1,000 businesses, from international investment banks to cutting-edge fintech startups, all of which benefit from a world-class regulatory environment.

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Top Financial Institutions in GIFT City

GIFT City's strong financial and insurance infrastructure is what makes it successful. The 2026-27 budget will provide businesses in South Asia more time to take advantage of tax holidays. As a result, more and more global companies are moving their operations to this region.

Multinational Banks: Big names like J.P. Morgan, HSBC, Standard Chartered, Deutsche Bank, Barclays, and Citibank have set up IFSC Banking Units (IBUs) to deal with foreign currency transactions and business loans from outside the country.
Indian Banking Leaders: SBI, HDFC Bank, ICICI Bank, and Axis Bank are some of the biggest banks in India. They help Indian companies get trade finance in dollars.
Insurance and Reinsurance: The city is becoming a major center for risk management, with companies like GIC Re, LIC, HDFC Life, ICICI Lombard, and international reinsurers like Berkley Re having offices there.

Top IT and Tech Companies

GIFT City is more than just a financial center; it is also a busy IT/ITeS SEZ. The infrastructure, which includes a district cooling system and computerised waste management, has drawn in the biggest tech companies in the world.

Google: Recently set up a global financial operation center to push new ideas in digital payments.
IBM: It runs a big software lab and consultancy center that focuses on AI and hybrid cloud solutions.
Oracle: Offers database administration and SaaS-based financial services that are made just for the BFSI sector.
Indian IT Majors: Companies like TCS, Infosys, Wipro, and HCL Technologies have established up big delivery centers that offer high-end consulting and digital transformation services to clients all over the world.

Fintech and Emerging Sectors

GIFT City is a great place for new ideas to grow because the IFSCA (International Financial Services Centres Authority) has set up a "regulatory sandbox" there.

Fintech and TechFin: Businesses like Infibeam Avenues, Razorpay, and Signzy are using the city's one-of-a-kind environment to provide ways for people to pay for things across borders.
Capital Markets: The city has the India International Bullion Exchange (IIBX) and other international exchanges including India INX (BSE) and NSE IX, where the popular GIFT Nifty is traded.
Global Capability Centers (GCCs): Companies like Accenture, Capgemini, and Cognizant have set up unique "TechFin" centers to help their clients in the financial services industry around the world.

Why Companies are Moving to GIFT City

Beyond the modern skyline, the strategic advantages are the real draw for C-suite executives:

Benefit	Description
Tax Holidays	100% income tax exemption for 10 consecutive years out of a 15-year block.
Operational Ease	Single-window clearance through a unified regulator (IFSCA).
GST Neutrality	No GST on services received by units in the IFSC or provided to offshore clients.
Strategic Location	Proximity to Ahmedabad’s international airport and the upcoming bullet train terminus.

FAQs

Which are the biggest IT companies in GIFT City?

The largest IT occupants include Google, IBM, Oracle, TCS, Infosys, and HCL Technologies. Many of these firms operate out of the Multi-services SEZ zone.
Can foreign universities set up campuses in GIFT City?

Yes, under recent regulations, foreign universities like Deakin and Wollongong (and more recently Coventry University) have been granted approval to establish international branch campuses within the city.
Is GIFT City a Special Economic Zone (SEZ)?

GIFT City is divided into two parts: a Multi-services SEZ (which includes the IFSC) and a Domestic Tariff Area (DTA). The SEZ offers export-related tax benefits, while the DTA is designed for domestic operations.
What kind of financial activities are permitted in the IFSC?

Permitted activities include offshore banking, capital market operations (trading in stocks and derivatives), asset management, aircraft/ship leasing, and international insurance.
How do the tax benefits in 2026 compare to previous years?

The 2026-27 policy framework has signalled a move toward long-term stability, maintaining the 10-year tax holiday while offering a concessional 15% tax rate for IFSC units even after the holiday period ends.

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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount shown for the Global Invest Plan with Global Invest Edu-Wealth option is for a 35-year-old proposer with an 8-year-old son, investing USD 10,000 per year for 5 years. The assumed rates of return @ 8% p.a. and @ 4% p.a. are not guaranteed and are not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: USD 1,55,765 @ 8% growth rate; USD 1,14,899 @ 4% growth rate. Tax benefits and savings are subject to changes in tax laws.

^Returns as on 10th Jan'25. 18% returns for Tata AIA Life Top 200 for the last 10 years.The past performance is not necessarily indicative of future performance. Source: Morningstar

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