From 886 Acres to 3,430 Acres
The biggest development in GIFT City’s progress is its territorial expansion. The city currently spans around 886–1,000 acres. The Gujarat government has approved a plan to triple this to 3,430 acres, bringing in adjoining land parcels that previously posed acquisition challenges.
The jurisdiction of the further expansion was transferred from the GIFT Urban Development Authority (GIFT UDA) to the Gandhinagar Urban Development Authority (GUDA) in June 2024. It aimed at a more cohesive urban planning across the larger region.
The draft development plan carries a capital expenditure of ₹6,200 crore, to be deployed in three phases over 15 years:
- Phase 1: ₹826 crore
- Phase 2: ₹2,765 crore
- Phase 3: ₹2,596 crore
Funds will go toward roads, water supply, drainage, solid waste management, and green infrastructure. The government is also proposing a Public-Private Partnership (PPP) model to accelerate key infrastructure projects, including affordable housing and waterfront development.
One notable design choice: the expanded zone will not extend GIFT City's existing "smart" infrastructure, such as the District Cooling System and underground utility tunnels, into the new area. Construction height in the expansion zone is also capped at 25 metres (roughly eight floors), compared to 125 metres permitted in the current GIFT City footprint.
Where Things Stand Today
The numbers reflect serious momentum. As of 2025, GIFT City hosts over 1,000 registered entities across banking, capital markets, insurance, fintech, fund management, and aircraft leasing. The IFSC banking units collectively hold $100 billion-plus in assets.
Global institutions with a presence here include JP Morgan, HSBC, Standard Chartered, Deutsche Bank, Citi, Barclays, MUFG, BNP Paribas, DBS, and several others. On the domestic side, Infosys recently opened a development centre at GIFT City that supports over 1,000 employees.
GIFT City climbed to 46th in the Global Financial Centres Index (GFCI) in 2025, its highest-ever ranking and topped the index in reputational advantage.
The city currently employs over 25,000 people, with projections to scale to 1,50,000 in fintech and technology roles over the next five years.
New Sectors, New Momentum
Expansion at GIFT City is not just physical. The regulatory and sectoral scope is widening rapidly.
- Commodity trading: Following "Project ACE" (Activating Commodity Trading Ecosystem), India has positioned GIFT IFSC to capture global commodity trade, particularly in metals, energy, and agricultural products, that currently flows through London, Singapore, or Dubai.
- Foreign Universities: With the help of Academic Infrastructure Service Providers (AISPs), foreign institutions are setting up campuses within the IFSC framework.
- Aircraft and ship leasing: The IFSC leasing ecosystem recorded 303 registered assets as of September 2025, comprising aircraft, engines, and auxiliary power units.
Infrastructure Additions
Beyond finance, the quality-of-life infrastructure is also scaling up. Plans include a 9-kilometre riverfront along the Sabarmati, a central park, and international-grade retail and recreational zones. The upcoming Mumbai–Ahmedabad High-Speed Rail will further cut GIFT City's isolation from India's largest financial centre, strengthening the tri-city corridor of Ahmedabad–Gandhinagar–GIFT City.
The Larger Picture
GIFT City's expansion reflects a broader national goal: to onshore financial activity that currently routes through offshore jurisdictions. The IFSCA, which serves as the unified regulator, consolidating powers of RBI, SEBI, IRDAI, and PFRDA for IFSC operations, continues to refine the regulatory framework to make GIFT City genuinely competitive at a global level and make it a good investment option for NRIs in India.
The city is not there yet. Concerns around talent availability, social infrastructure, and the pace of private-sector commitment remain real. But the scale of planned investment and the pace of institutional adoption suggest that GIFT City's expansion is moving from intent to execution.
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