Nirmala Sitharaman, Union Finance Minister
Over the last 5 years, the government has provided several progressive policy measures for development of GIFT IFSC, such as – setting up of International Financial Services Centres Authority (IFSCA) as a unified statutory regulator for development and regulation of International Financial Services Centres (IFSCs) in India, Finance Minister Nirmala Sitharaman said.
New Delhi: As many as 409 companies are operating in Gujarat International Finance Tec City – International Financial Services Centre (GIFT IFSC) as on July 31, 2025, Parliament was informed on Monday.
“Between October 1, 2020 and July 31, 2025, the number of such companies has grown from 82 to 409. Further, banking, asset management and other financial ecosystems have been included and enabled in GIFT IFSC,” Finance Minister Nirmala Sitharaman said in a written reply in the Lok Sabha.
Over the last 5 years, the government has provided several progressive policy measures for development of GIFT IFSC, such as – setting up of International Financial Services Centres Authority (IFSCA) as a unified statutory regulator for development and regulation of International Financial Services Centres (IFSCs) in India, she said.
To further enhance ease of doing business in GIFT IFSC, the government has also delegated powers of Development Commissioner under the Special Economic Zones (SEZ) Act, 2005 to International Financial Services Centres Authority (IFSCA) and facilitated the launch of a Single Window IT System (SWITS) for IFSC units, she said.
Replying to another question, Sitharaman said post Covid-19, the government has consolidated the debt from 61.4 per cent of GDP in 2020-21 to 56.1 per cent of GDP in budget estimate 2025-26.
Further, she said, the government aims to keep fiscal deficit in each year in such manner that the central government debt is on declining path to attain debt to GDP level of about 50±1 per cent by March 31, 2031.
The outstanding loan/debt at the end of FY 2024-25 is provisionally estimated at Rs 185.94 lakh crore, she said.