GIFT City- India's first operational smart city | Gift City Gandhinagar update | Papa Construction

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Title- GIFT City- India's first operational smart city | Gift City Gandhinagar update | Papa Construction
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Gujarat International Finance Tec-City also called GIFT City, is a central business district under construction in the Gandhinagar district as suburb city of Ahmedabad in Ahmedabad Metropolitan Region in Gujarat, India. It is India's first operational greenfield smart city and international financial services centre, which the Government of Gujarat promoted as a greenfield project. In 2020 GIFT IFSC bagged 10th place in Finance Industry and top rank in emerging financial centres in the Global Financial Centres Index. In 2025, GIFT City secured the top rank in reputational advantage, ranked 40th in fintech, and achieved an overall ranking of 46th in the Global Financial Centres Index (GFCI 37). As of June 2023, it is home to 23 PSBs and multi-national banks, many of the first banks that started operation in early 2010s include Bank of Baroda, State Bank of India, Punjab National Bank, Indian Bank etc. Furthermore, it includes 35 fintech entities, two international stock exchanges with average daily trading volumes of $30.6 billion, as well as India's first international bullion exchange with 75 onboarded jewellers. The city is located on the banks of the Sabarmati River and is around 12 km (7.5 mi) from Sardar Vallabhbhai Patel International Airport. The city is designed so residents can walk to work, and includes commercial, financial and residential complexes. The city is connected through 4-6 lane state and national highways. A metro station is also planned[clarification needed] for construction, which would connect GIFT City to the Ahmedabad Metro network. This is expected to be completed by March 2024. The total area for the development of GIFT is 359 hectares (886 acres) out of which the special economic zone (SEZ) constitutes 106 hectares (261 acres). The project area under development can hence be classified under the SEZ area and the non-SEZ area (also known as the Domestic Tariff area or the DTA). With the opening of the first campuses of two Australian universities on 7 November 2023 in the presence of Indian counterpart Dharmendra Pradhan and Australian Education Minister Jason Clare, GIFT City is beginning to establish itself as the centre of foreign universities in the nation.
GIFT City is a global financial and technology hub that offers single-window clearances and approvals under one umbrella. It provides a plug-and-play infrastructure for businesses seeking unparalleled accelerated growth.