Gujarat's GIFT City was conceived as India's answer to Singapore. But 14 years on, it is yet to take flight.
The project was inspired by the success of financial hubs like London, Hong Kong, Dubai and Tokyo, and aspired to be "at or above par" these metropolises.
When it comes to meeting targets, about 11,000 people work in GIFT City today, 148 companies are registered in the SEZ, and there are 14 multi-storeyed projects. For context, Phase I was supposed to create 30,000 jobs and the original timeline stipulated 10 lakh jobs and 110 skyscrapers by 2020!
Why has the project faced repeated delays? And what's the end goal?
Click link for answers: https://transfin.in/what-is-gift-city-what-is-the-current-status-of-the-project