ICICI Bank and GIFT City Gurajat have teamed up to encourage international investors and capital market firms to set up shop in the GIFT SEZ. ICICI Bank and GIFT SEZ (special economic zone) have signed a MoU to market GIFT SEZ to Indian and international industries, including IT/ITeS (IT enabled services) and financial services. GIFT SEZ is the first International Financial Services Centre (IFSC) in the country, and it is being built as a worldwide financial services hub. With its banking sector, ICICI Bank has been a major stakeholder in the GIFT SEZ since 2016.
Both of them will jointly work towards attracting global investors and capital market firms to set up operations in GIFT SEZ, said the release, adding they will promote GIFT SEZ among Indian and foreign MNCs as the preferred location for availing cross-border trade finance. GIFT SEZ and ICICI Bank aim to promote the development of GIFT SEZ as a fintech hub of India and will make concerted efforts to support start-ups and fintech firms.
