With the proposed budgetary measures, GIFT City is set to become a competitive and business-friendly destination on the global financial map.
FinTech BizNews Service
Mumbai, February 1: Union Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman presented the budget for FY2025-26 in the Parliament today. In order to attract and promote additional activities in the IFSC, the Budget has proposed specific benefits to ship-leasing units, insurance offices and treasury centers of global companies that are set up in IFSC. Further, to claim benefits, the cut-off date for commencement in IFSC has also been extended by five years to 31.03.2030.
Tapan Ray, MD and Group CEO, GIFT City, has shared vital observations with regard to these proposals in the Union Budget 2025-26 about International Financial Services Centre (IFSC): "The Union Budget 2025 reinforces the government’s commitment to making GIFT City IFSC a global financial hub. The proposed tax incentives and regulatory simplifications will attract global investors, fund managers, and businesses, strengthening India’s financial ecosystem. With these measures, GIFT City is set to become a competitive and business-friendly destination on the global financial map. It will play a key role in driving India’s growth in the international financial services sector."
