GIFT City Banking Assets Exceed USD 100 Billion: HSBC-EY India Report

• GIFT City's banking assets have surpassed USD 100 billion, driven by increased demand for trade finance, treasury, and structured products, as per an HSBC-EY India compendium.
• The International Financial Services Centre (IFSC) at GIFT City has seen a shift towards sophisticated business lines like structured finance and global treasury centers.
• Capital market activity at IFSC exchanges shows an average monthly turnover of USD 90 billion, with cumulative debt listings exceeding USD 67 billion.
• GIFT City has reached over 1,000 registered entities, and fund management is its fastest-growing vertical with USD 26 billion in commitments across 310 AIFs.
• GIFT City is also emerging as a global hub for aviation and maritime leasing, with 303 aviation assets and 28 ships already leased.

Why It Matters: GIFT City's rapid financial growth signifies its emergence as a global business hub.