GIFT IFSC: Transforming into a Global Financial Powerhouse – Dr. Dipesh Shah on Growth, Governance, and Investment Opportunities
National/Gujarat, 14th March 2025: India’s apex industry body for alternative assets, the Indian Venture and Alternate Capital Association (IVCA), in collaboration with the International Financial Services Centres Authority (IFSCA), successfully hosted the inaugural IFSCA-IVCA Fund Management Conclave 2025 on 12th March 2025 at GIFT City, Gujarat.
The Conclave brought together key stakeholders to discuss the evolving regulatory landscape, innovative fund structures, and India’s emergence as a global fund management hub. Organised in partnership with IC Universal Legal, Investec, PwC, and Peak XV Partners, the conclave fostered dialogue on accelerating capital flows through IFSC and strengthening India’s position in the global investment ecosystem. Dr. Dipesh Shah, Executive Director (Development), IFSCA, delivered an address on ‘Business Growth in IFSC,’ highlighting key developments and opportunities shaping the sector.
Dr. Dipesh Shah highlighted GIFT City‘s rapid transformation into a global financial hub, driven by targeted incentives, business-friendly regulations, and a growing financial ecosystem. He emphasised GIFT IFSC’s role in facilitating global capital flows, sustainable finance, and emerging sectors like aircraft and ship leasing. He further highlighted the importance of strong governance, regulatory clarity, and talent development in sustaining its momentum and attracting greater domestic and international participation.
He said, “GIFT IFSC has evolved from an unfamiliar concept to a thriving global financial hub, now home to 29 banks, a rapidly growing fund ecosystem with over 215 registered funds, and a balance sheet that has surged from $14 billion in 2020 to $78 billion today. With debt listings exceeding $64 billion—including $15 billion in ESG-focused funds—GIFT City is not only facilitating global capital flows but also positioning itself as a center for sustainable finance. The expansion of aircraft and ship leasing, once dominated by international financial hubs, is now taking shape in IFSC, marking India’s rise as a global player in these sectors.
As we move forward, it is crucial to ensure that the growth of IFSC is accompanied by depth in talent and governance. I propose that we establish a PO-CO forum at the next IVCA-IFSC Conclave, where principal officers and compliance officers can discuss fund operations, regulatory frameworks, and governance standards, ensuring that IFSC continues to lead with credibility and substance. An awards initiative recognizing outstanding professionals in this space would further strengthen our commitment to building a world-class financial ecosystem.”