Special Economic Zones in India
GIFT City and Services Zones
GIFT City in Gujarat is an International Financial Services Centre with a special regulatory regime to attract global finance.
A new kind of zone.
What it is
A planned business district near Ahmedabad, with an international financial services centre regulated by a single authority.
Benefits
Tax incentives, simpler rules and the ability to deal in foreign currency.
Activities
Banking, insurance, fund management and aircraft leasing.
Aim
Bring offshore financial business back onshore to India.
An aircraft lease
A leasing company sets up in GIFT City to lease aircraft to Indian airlines.
Assuming zones are only for factories
Services zones are growing.
Key takeaways
- GIFT City is an IFSC.
- It offers tax benefits.
- It hosts leasing and funds.
- It aims to onshore financial business.
No recording for this one yet - EconReader can read it aloud for you.