Uday Kotak is new GIFT City chairman
Uday Kotak, founder of Kotak Mahindra Bank, has just been named Chairman of Gujarat International Finance Tec-City (GIFT City) by the Gujarat government.
He steps in after Hasmukh Adhia and takes charge as GIFT City grows into a major financial hub in India.
What is GIFT City?
GIFT City isn't just another business park—it's India's first smart city focused on global finance and tech.
With a fresh tax holiday, it's set to compete with places like Singapore and Dubai for international companies and jobs.
Kotak's experience will be invaluable in this role
Kotak is known for building one of India's biggest financial groups over decades, covering everything from banking to insurance.
He previously served as Managing Director & CEO at Kotak Mahindra Bank; now he brings his experience to help shape GIFT City's future.
Adhia served as non-executive chairman
He takes over from Hasmukh Adhia, who served as non-executive chairman.