REPRESENTATIVES OF the BRICS Contact Group on Economic and Trade Issues (CGETI) from eight countries visited GIFT City in Gandhinagar on Friday. They toured key facilities to get first-hand insights into the integrated smart city infrastructure created in Gandhinagar to support international financial services operations.
The visit assumes significance as India holds the BRICS Chairship for 2026 and is set to host the 18th BRICS Summit and related ministerial engagements during the year.
As part of the visit, the delegation learned about GIFT City’s development as India’s maiden IFSC and its emergence as a gateway for international financial services, global capital flows and foreign currency transactions from within India, a statement said.
The delegation had one member each from Brazil, Egypt and Russia, three each from China and South Africa and two each from Indonesia, Ethiopia, and the United Arab Emirates.
Senior officials from GIFT City and International Financial Services Centres Authority (IFSCA) made a detailed presentation covering the city’s regulatory ecosystem, globally benchmarked infrastructure, business environment and sectoral opportunities across banking, capital markets, fund management, insurance and reinsurance, aircraft leasing, fintech, and Global Capability Centres (GCCs).
Managing Director and Group CEO GIFT City Sanjay Kaul said, “GIFT City is steadily emerging as a globally competitive financial and innovation hub, enabling international financial services and cross-border business from India. The visit by the BRICS delegation provided an important opportunity to showcase GIFT City’s integrated financial and urban ecosystem, and to exchange perspectives on areas such as cross-border investments, sustainable finance, fintech innovation and international economic cooperation.
