GIFT City Sets Ambitious Target of 1 Lakh Jobs by 2030
Focus on globally deployable financial talent
Social infrastructure expansion to support rapid growth
By Business Reporter
New Delhi: June 06, 2026:
GIFT City, India’s first International Financial Services Centre (IFSC), is targeting the creation of at least 1 lakh jobs by 2030. The plan focuses on building globally deployable talent through university partnerships, fintech skilling, and social infrastructure development, positioning Gujarat as a hub for international finance.
Background
GIFT City (Gujarat International Finance Tec-City), located near Gandhinagar, is India’s flagship project to attract global financial institutions. Currently supporting around 27,000 jobs, the city aims to expand employment to 100,000 by 2030. The Managing Director and Group CEO, Sanjay Kaul, emphasized that the challenge is not just job creation but ensuring talent meets international standards.
Key Legal and Regulatory Frameworks
1. International Financial Services Centres Authority (IFSCA Act, 2019)
- Governs financial services in GIFT City.
- Provides a unified regulator for banking, insurance, capital markets, and fund management.
- Enables global-standard operations for foreign banks, exchanges, and leasing firms.
2. Special Economic Zone (SEZ) Rules, 2006
- GIFT City operates under SEZ rules, offering tax incentives and simplified compliance.
- Firms enjoy exemptions on GST, customs duties, and income tax benefits.
3. Labour and Employment Laws
- Employment generation must comply with Indian labour codes (Industrial Relations, Wages, Social Security, Occupational Safety).
- Internship and skilling programs align with the National Skill Development Corporation (NSDC) framework.
4. University Partnerships and MoUs
- GIFT City has signed agreements with universities in Gujarat to create specialized courses in finance, fintech, and compliance.
- Legal basis: University Grants Commission (UGC) guidelines for industry-academia collaboration.
Analytical Insights
Talent Development
- Over 500,000 technically qualified students in Gujarat form the catchment pool.
- Targeted upskilling through fintech institutes and short-term courses will prepare graduates for international roles.
Social Infrastructure
- Expansion includes housing, healthcare, schools, and recreational facilities to attract global talent.
- Ensures sustainability of workforce migration into GIFT City.
Global Competitiveness
- By aligning with international standards, GIFT City aims to rival hubs like Singapore and Dubai.
- Attraction of senior international professionals is part of the strategy, with incentives for relocation.
Economic Impact
- Job creation will boost Gujarat’s GDP and strengthen India’s position in global finance.
- The presence of 1,300 registered entities with 100 new registrations monthly indicates rapid growth.
FAQs for Quick Understanding
Q1. What is GIFT City’s job target?
At least 1 lakh jobs by 2030, up from 27,000 currently.
Q2. Which law regulates GIFT City?
The IFSCA Act, 2019, which created a unified regulator for IFSCs.
Q3. What incentives do firms get in GIFT City?
Tax exemptions under SEZ Rules, 2006, including GST and customs duty waivers.
Q4. How is talent being developed?
Through university partnerships, fintech institutes, and short-term skilling programs.
Q5. What is meant by “globally deployable talent”?
Workforce trained to meet international standards in finance, banking, and compliance.
Q6. How many entities are registered in GIFT City?
Around 1,300, with about 100 new registrations monthly.
Q7. What social infrastructure is being planned?
Housing, healthcare, schools, and recreational facilities to support professionals and families.
Conclusion
GIFT City’s ambition to create 1 lakh jobs by 2030 reflects India’s push to become a global financial hub. By combining regulatory incentives, talent development, and social infrastructure, the project aims to attract both domestic graduates and international professionals. The legal framework under the IFSCA Act and SEZ rules ensures compliance with global standards, while partnerships with universities and industry bodies strengthen the talent pipeline.