Where the rich are going: All about setting up a family office in GIFT City

The financial services hub gives tax breaks and opportunities to make investments

Gujarat International Finance Tec-City (GIFT) in Gujarat may soon have its first family investment fund (FIF), 'Business Standard' recently reported. "GIFT International Financial Services Centre (IFSC) has emerged as a prominent destination for financial activities. GIFT IFSC has emerged as a prominent destination for financial activities," says Pallav Pradyumn Narang, partner at CNK.

The number of Indians with a net worth of more than $1 million rose from 100 in 2012 to 1,103 in 2022, according to the IIFL Wealth Hurun India Rich List. A 2022 survey by EY found that 43 per cent of Indian family offices have been