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The Z/Yen Partners, with the China Development Institute (CDI), released the 40th edition of the Global Financial Centres Index (GFCI 40). GIFT City, Gujarat, improved by 9 positions to rank 37th globally and entered the top 15 financial centres in the Asia-Pacific region.
Context
Key Highlights
GIFT City improves its global ranking
- GFCI 40: 37th
- GFCI 39: 46th
- Improvement: 9 positions
- GIFT City became the only Indian financial centre in the Asia-Pacific top 15.
Other Indian financial centres
| Financial Centre | GFCI 40 |
|---|---|
| GIFT City | 37th |
| Mumbai | 49th |
| Delhi | 56th |
The Top Four
| Rank | Centre |
|---|---|
| 1 | New York (USA) — retained top position |
| 2 | London (UK) |
| 3 | Hong Kong |
| 4 | Singapore |
About GFCI
- A biannual ranking of global financial centres
- Assesses competitiveness using quantitative indicators and assessments from financial services professionals
The Five Competitiveness Areas
- Business Environment
- Human Capital
- Infrastructure
- Financial Sector Development
- Reputation
Important Facts for Examsmost asked
- GFCI 40 — by Z/Yen Partners (London) with the China Development Institute (Shenzhen)
- GIFT City: 37th, up 9 places from 46th
- Top four: New York, London, Hong Kong, Singapore
- Biannual — published every March and September
- 139 centres researched; 117 in the main index; 22 associates
- 144 instrumental factors; 39,531 assessments from 6,147 respondents
- Five areas: Business Environment, Human Capital, Infrastructure, Financial Sector Development, Reputation
- GIFT City — Gujarat International Finance Tec-City, at Gandhinagar; India’s first International Financial Services Centre (IFSC)
- Regulated by the International Financial Services Centres Authority (IFSCA), a unified regulator established 2020 under the IFSCA Act, 2019
- GIFT City hosts NSE IX and India INX; the BRICS Risk Lab has been proposed there under the New Delhi Declaration
