Your daily fintech and banking briefing.
Today: Jun 13, 2024

Build GIFT City fintech lab: Fuel $30tn economy vision

1 min read

TLDR: Union Finance Minister Nirmala Sitharaman has called for the development of a diverse fintech lab in Gujarat International Finance Tec-City (GIFT City) in order to achieve India’s target of becoming a $30tn economy by 2047. Sitharaman highlighted the importance of technology in financial services and stated that GIFT City should be a platform for green credits. She also emphasized the need for India to become a manufacturing hub for shipping and to expand retail participation in stock markets. GIFT City, a state-of-the-art business complex, is designed to provide advantages to Indian entrepreneurs in accessing global finance.