New Delhi, June 8 -- GIFT City in Gujarat is increasingly gaining traction for setting up Global or Regional Treasury and Commodity Trading Centres (GRCTCs), due to their lower costs and expanding incentives, as per a report by global accounting firm EY.

The Indian economy is poised at a strategic inflection point, where the intent of the government and the regulators is aligned to create a strategic force in the development of the financial market ecosystem.

"GIFT City and International Financial Services Centres Authority (IFSCA) are pivotal in positioning India as a front-runner and the destination of choice for setting up Global or Regional Treasury and Commodity Trading Centres (GRCTCs)," said Hemal Shah, Partner, Financial Service...