Over 100 firms consider GIFT City treasury operations, says JPMorgan
Business
GIFT City in Gujarat is quickly catching the attention of global companies looking to manage their money smarter.
JPMorgan says more than 100 firms are considering moving their treasury operations here over the next 12-to-18 months, thanks to perks like tax breaks, easy foreign currency deals, and a streamlined regulatory setup.
GIFT City gets 20-year tax break
Since opening in 2015 as India's answer to Singapore and Dubai, GIFT City has become a go-to spot for international banking.
With a generous 20-year tax break introduced in April and banking assets topping $100 billion by September, it's no wonder big names from fintech to insurance are setting up shop.