India is actively seeking Taiwan financial investment for its Gujarat International Financial Tec City (GIFT City). Moreover, the country aims to establish GIFT City as a global financial hub. Recently, Shri K. Rajaraman, chair of the International Financial Services Centres Authority (IFSC), shared insights at a media event.
He emphasized the importance of Taiwan financial investment in expanding trade finance. In fact, several Taiwanese banks have expressed strong interest in setting up branches within GIFT City. Consequently, India-Taiwan cross-border trade will deepen as banks build new financial pipelines between the two countries.
Additionally, Manharsinh Yadav, India’s representative to Taiwan, revealed that Taipei Fubon Bank and CTBC Bank plan to open offices in GIFT City. This clearly reflects growing confidence in the city’s financial ecosystem.
One major advantage of GIFT City lies in the fast approval process. Rajaraman explained that businesses can complete approval and establish operations within 45 to 60 days. Furthermore, India’s regulations closely align with global standards, which eases the movement of capital in and out of the city.
Besides that, cost-effectiveness remains a key benefit. Lower operational costs and affordable living expenses make GIFT City attractive to foreign investors. Therefore, international businesses feel comfortable investing in India.
According to the India-Taipei Association, more than 850 companies from fintech, capital markets, and other sectors have registered with the IFSC as of July. In addition, major banks such as JP Morgan, HSBC, and BNP Paribas already operate in the city, highlighting its growing appeal.
Plans to develop GIFT City first emerged in 2007. Subsequently, the city’s initial construction phase finished in 2015. Since then, it has steadily expanded its infrastructure and services.
With Taiwan financial investment increasing, GIFT City is set to play a pivotal role in strengthening India-Taiwan trade ties. Ultimately, these efforts will accelerate the city’s rise as a global financial hub in the near future.
