Inside India newsletter: Why global funds are flocking to GIFT City in Modi’s home state

Hello, this is Priyanka Salve, writing to you from Singapore. Welcome to the latest edition of "Inside India" — your one-stop destination for stories and developments from the world's fastest-growing large economy.India's Gujarat International Finance Tec-City, also known as GIFT City, aspires to be what Hong Kong is to mainland China, or what Dubai International Financial Center is to the United Arab Emirates. While progress has been slow, after more than a decade of its launch, GIFT City is finally drawing interest from leading asset management firms. I spoke with experts to figure out if India's first and only global financial center is finally coming into its own.Any thoughts on today's newsletter? Share them with the team. The big storySignage in Gujarat International Finance Tec-City (GIFT City) in the suburbs of Ahmedabad, Gujarat, India, on Wednesday, May 21, 2025. Bloomberg | Bloomberg | Getty ImagesA strong domestic investor appetite for global markets, relaxed rules for foreign currency usage, and increasing tax sops are driving leading asset management companies to India's GIFT City, more than a decade after its launch.GIFT City, located in Prime Minister Narendra Modi'...