GIFT City Complete Understanding- History, Present, Future| Updates & Benefits | Gandhinagar

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HISTORY OF GIFT CITY

● GIFT City was established in 2008 and was a dream project of our Prime Minister & then Gujarat CM - Shri Narendra Modi
● Iska Phase 1 is planned in 886 Acres jisme 67% Commercial , 22% Residential & 11% Space plan ki gayi hai for Social Activities
● GIFT City ko divide kiya gaya DO Zones me Domestic & Special Economic Zone which includes Residential as well as commercial development.

PURPOSE & BENEFITS OF GIFT CITY

● First is the Single Window Clearance - GIFT City promotes startup economy by providing single window clearance for all necessary approvals under one umbrella in an easy manner so aapko apna business start karne ke liye jo bhi approvals lagte hai wo at the same time mil jayenge which makes it quick and hassle free
● Next is State-of-the-art infrastructure - GIFT City is designed on the “WALK to WORK” Concept jaha aap apne ghar se office walk karke ja sake.GIFT City ki planning ki gayi hai Government of Gujarat and Government of India k through jisko futuristic banane k liye modern techniques use ki gayi hai like District Cooling System ,Water Treatment Plant & Automated waste collection system.
● Deemed Foreign Jurisdiction - GIFT City ko ek foreign jurisdiction k tarah designated kiya gaya hai under the Foreign Exchange Management Act.Due to which companies in GIFT City can carry out foreign exchange transactions. The entities set up in the GIFT can transact , retain, repatriate the foreign currencies without limitations jo ki aap INDIA me aur kahi nahi kar sakte.
● Tax Benefits - GIFT City me Apko Multiple Tax Benefits Milte hai like No Taxation for 10 Years , NO GST , Exemption from Securities Transaction Tax , Exemption from Commodity Transaction Tax & many such benefits which are attracting the Investors across the world.
● Global IT & Financial hub - Gift City has already emerged as Global IT & Financial Hub, being home to 23 multinational banks, including HSBC, JP Morgan, and Barclays. Furthermore, it includes 35 fintech entities, two international stock exchanges with average daily trading volumes of $30.6 billion. Companies like NSE , State Bank of INDIA , Google also have there offices in GIFT.

FUTURE OF GIFT CITY -
● 3300 ACRES - GIFT City infrastructure is increasing day by day and this is going to spread across whooping 3300 acres making it the largest Hi Tech City in the World.
● Metro Connectivity - Metro work has already started which is going to connect gift city to major locations in Ahmedabad
● Mumbai - GIFT City Bullet Train - Bullet train will connect GIFT City to India’s Finance Capital Mumbai in less than 2 Hours which is going to be operational very soon
● Impact of Restrictions on Liquor Consumption - With recent upliftment of ban on liquor consumption has seen tremendous growth in Residential & Commercial Pricings in Gift city which makes it a good investment.
● MNC - More Companies like Tesla ,Amazon, PayTM , Wipro , Accenture ,Many Foreign Banks have already announced their operations to begin in GIFT City

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