India, Feb. 1 -- Finance Minister Nirmala Sitharaman, in her Union Budget 2025-26 speech on February 1, proposed several incentives and relaxations for the International Financial Services Centre at GIFT City, also known as Gujarat International Finance Tec-City. GIFT City, which is located on the banks of the Sabarmati River, between Ahmedabad and Gandhinagar in Gujarat.

"In order to attract and promote additional activities in the IFSC, I am inter alia proposing specific benefits to ship-leasing units, insurance offices and treasury centres of global companies which are set up in IFSC. Further, to claim benefits, the cut-off date for commencement in IFSC has also been extended by five years to 31.3.2030," Sitharaman said in the Budget ...