Broking, insurance and banking transactions cross $4 bn at GIFT City's IFSC

With 13 more approved, number of units with financial SEZ cross the 100 mark

The number of units in the International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City) has risen to 103, with 13 more being approved by the special economic zone (SEZ) development commissioner.

The units approved include broking, IT, reinsurance, and banking firms such as HDFC Bank, Karvy Broking Ltd, Pabhudas Lilladher IFSC Pvt, JM Global Wealth IFSC Pvt, Softpulse Technology, Airan Global Pvt, Lucent Innovation, and J B Boda Reinsurance Brokers Pvt.

According to Ajay Pandey, managing director and Group chief executive officer, GIFT City, the IFSC now has 87 capital market units, 10 banks, and six