India, May 15 -- GIFT City, or Gujarat International Finance Tec-City, is a smart city and the first operational International Financial Services Centre (IFSC) in India. Designed to be a global financial and IT hub, it also houses GIFT Nifty and tracks the performance of the Nifty 50 index, but is traded on the NSE International Exchange (NSE IFSC) in GIFT City.

GIFT Nifty has been in the news over the last two months owing to several macroeconomic and domestic reasons.

Located between Ahmedabad and Gandhinagar, GIFT City is spread across 880 acres along the Sabarmati River. It features a Special Economic Zone (SEZ) and a non-SEZ area, designed to host global finance, IT firms, and residential projects. Currently, about 30% of the city ...