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==History==
==History==
[[File:Shri Sudhir Mankad, Chairman,  
<nowiki>[[File:Shri Sudhir Mankad, Chairman, 2007: The Gujarat government announces plans to develop an international financial services center at Gandhinagar, Gujarat.]]</nowiki><ref>https://economictimes.indiatimes.com/news/economy/policy/gujarat-to-develop-international-financial-services-centre/articleshow/2278938.cms</ref>
2007: The Gujarat government announces plans to develop an international financial services center at Gandhinagar, Gujarat.


2008: The Gujarat International Finance Tec-City Company Limited (GIFTCL) is established as a joint venture between the Gujarat government and Infrastructure Leasing and Financial Services (IL&FS) to develop and manage GIFT City.
In 2008 The Gujarat International Finance Tec-City Company Limited (GIFTCL) is established as a joint venture between the Gujarat government and Infrastructure Leasing and Financial Services (IL&FS) to develop and manage GIFT City.<ref>https://www.business-standard.com/article/economy-policy/gujarat-ifc-to-be-called-gift-city-108090100069_1.html</ref>


2009: Construction work begins in GIFT City.
In 2009 Construction work begins in GIFT City.


2011: GIFT City is notified as a Special Economic Zone (SEZ) by the Indian government, providing various tax and duty benefits for businesses operating within the zone.
In 2011 GIFT City is notified as a Special Economic Zone (SEZ) by the Indian government, providing various tax and duty benefits for businesses operating within the zone.<ref>https://economictimes.indiatimes.com/news/economy/policy/gujarat-international-finance-tec-city-notified-as-special-economic-zone/articleshow/11202279.cms</ref>


2012: The first phase of infrastructure development in GIFT City is completed, including roads, water supply, and power.
In 2012 The first phase of infrastructure development in GIFT City is completed, including roads, water supply, and power.<ref>https://www.livemint.com/Politics/g0ajwGfv1d8WZ0oJvMk9zN/First-phase-of-GIFT-Citys-infrastructure-development-complet.html</ref>


2013: The first building, GIFT One, is completed and becomes operational. It houses the offices of several companies, including ICICI Bank, Kotak Mahindra Bank, and Axis Bank.
In 2013 The first building, GIFT One, is completed and becomes operational. It houses the offices of several companies, including ICICI Bank, Kotak Mahindra Bank, and Axis Bank.<ref>https://www.thehindubusinessline.com/money-and-banking/gift-city-project-to-breathe-life-into-gandhinagar/article5685589.ece</ref>


2014: The second building, GIFT Two, is completed and becomes operational. It houses the offices of several companies, including the State Bank of India and Bank of Baroda.
In 2014 The second building, GIFT Two, is completed and becomes operational. It houses the offices of several companies, including the State Bank of India and Bank of Baroda.<ref>https://www.business-standard.com/article/economy-policy/gift-city-starts-second-building-to-house-18-banks-114102000033_1.html</ref>


2015: The International Financial Services Centre (IFSC) is launched in GIFT City, providing a world-class regulatory and business environment for financial services companies.
In 2015 The International Financial Services Centre (IFSC) is launched in GIFT City, providing a world-class regulatory and business environment for financial services companies.<ref>https://economictimes.indiatimes.com/industry/banking/finance/banking/gujarat-ifsc-launched-by-pm-modi-to-take-on-global-finance-hubs/articleshow/49964411.cms</ref>


2016: The first IFSC Banking Unit (IBU) is launched in GIFT City, enabling banks to conduct offshore banking transactions in foreign currencies.
In 2016 The first IFSC Banking Unit (IBU) is launched in GIFT City, enabling banks to conduct offshore banking transactions in foreign currencies.<ref>https://economictimes.indiatimes.com/industry/banking/finance/banking/india-gets-its-first-ifsc-banking-unit-in-gift-city/articleshow/54710533.cms</ref>


2017: The GIFT Tower, a 28-storey commercial building, is inaugurated in GIFT City. The tower is the tallest building in Gujarat and houses several major financial institutions.
In 2017 The GIFT Tower, a 28-storey commercial building, is inaugurated in GIFT City. The tower is the tallest building in Gujarat and houses several major financial institutions.<ref>https://www.businesstoday.in/current/economy-politics/indias-first-ifsc-gift-city-in-gujarat-inaugurated-by-pm-modi/story/264735.html</ref>


2018: The National Stock Exchange (NSE) sets up a data center in GIFT City to provide low-latency trading services for financial firms.
In 2018 The National Stock Exchange (NSE) sets up a data center in GIFT City to provide low-latency trading services for financial firms.<ref><nowiki>https://www.business-standard.com/article/markets/nse-to-set-up-data-centre-in-gift-city-at-an-investment-of-rs-1-000-crore-118010500143_1.html</nowiki></ref>


2019: The GIFT City-based India INX, India's first international exchange, surpasses the $100 billion mark in cumulative trading volume.
In 2019 The GIFT City-based India INX, India's first international exchange, surpasses the $100 billion mark in cumulative trading volume.<ref>https://economictimes.indiatimes.com/markets/stocks/news/india-inx-surpasses-100-billion-mark-in-cumulative-trading-volume/articleshow/72045553.cms</ref>


2020: GIFT City is designated as India's first International Financial Services Centre Authority (IFSCA), giving it the power to regulate financial services companies operating within the IFSC.
In 2020 GIFT City is designated as India's first International Financial Services Centre Authority (IFSCA), giving it the power to regulate financial services companies operating within the IFSC.<ref>https://www.thehindu.com/business/Economy/gift-city-is-indias-first-international-financial-services-centre-authority/article32905458.ece</ref>


2021: GIFT City signs an MoU with the Dubai International Financial Centre (DIFC) to strengthen cooperation and enhance cross-border investment opportunities between the two financial centers.
In 2021 GIFT City signs an MoU with the Dubai International Financial Centre (DIFC) to strengthen cooperation and enhance cross-border investment opportunities between the two financial centers.<ref>https://www.financialexpress.com/economy/gift-city-signs-mou-with-dubai-international-financial-centre-to-strengthen-cooperation/2291005/</ref>


2022: The Gujarat Maritime Cluster is inaugurated in GIFT City, with the aim of developing a vibrant maritime ecosystem in Gujarat.
In 2022 The Gujarat Maritime Cluster is inaugurated in GIFT City, with the aim of developing a vibrant maritime ecosystem in Gujarat.


2022: The third building, GIFT Three, is completed and becomes operational. It houses the offices of several companies, including Bank of America and Standard Chartered.
The third building, GIFT Three, is completed and becomes operational. It houses the offices of several companies, including Bank of America and Standard Chartered.


2023: The fourth building, GIFT Four, is completed and becomes operational. It houses the offices of several companies, including JPMorgan Chase and Deutsche Bank.
In 2023 The fourth building, GIFT Four, is completed and becomes operational. It houses the offices of several companies, including JPMorgan Chase and Deutsche Bank.


GIFT City, presenting key of GIFT City to the Prime Minister, Shri Narendra Modi, at the inauguration ceremony of the India International Exchange in GIFT City, Gandhinagar, Gujarat.jpg|thumb| [[Prime Minister of India|Prime Minister]] [[Narendra Modi]] in 2017 at the [[India International Exchange]] inauguration ceremony in GIFT City.<ref>{{cite news|title=PM Modi to inaugurate 16-storey international exchange in Gujarat to rival Singapore, Dubai |url=https://economictimes.indiatimes.com/markets/stocks/news/pm-modi-to-inaugurate-16-storey-international-exchange-in-gujarat-to-rival-singapore-dubai/articleshow/56420183.cms|accessdate=16 January 2017|agency=[[Indo-Asian News Service]]|publisher=India Times|date=9 January 2017}}</ref><ref>{{cite news|title=PM Narendra Modi launches India's first international stock exchange|url=https://www.indiatoday.in/education-today/gk-current-affairs/story/modi-launches-india-stock-exchange-gift-city-954720-2017-01-13|accessdate=16 January 2017|publisher=India Today|date=13 January 2017}}</ref>]]
GIFT City, presenting key of GIFT City to the Prime Minister, Shri Narendra Modi, at the inauguration ceremony of the India International Exchange in GIFT City, Gandhinagar, Gujarat.jpg|thumb| [[Prime Minister of India|Prime Minister]] [[Narendra Modi]] in 2017 at the [[India International Exchange]] inauguration ceremony in GIFT City.<ref>{{cite news|title=PM Modi to inaugurate 16-storey international exchange in Gujarat to rival Singapore, Dubai |url=https://economictimes.indiatimes.com/markets/stocks/news/pm-modi-to-inaugurate-16-storey-international-exchange-in-gujarat-to-rival-singapore-dubai/articleshow/56420183.cms|accessdate=16 January 2017|agency=[[Indo-Asian News Service]]|publisher=India Times|date=9 January 2017}}</ref><ref>{{cite news|title=PM Narendra Modi launches India's first international stock exchange|url=https://www.indiatoday.in/education-today/gk-current-affairs/story/modi-launches-india-stock-exchange-gift-city-954720-2017-01-13|accessdate=16 January 2017|publisher=India Today|date=13 January 2017}}</ref>


On 15 December 2011, ''[[The Economic Times]]'' reported city officials in GIFT were inviting companies from [[Singapore]] that wished to expand but could not do so due to a lack of land in Singapore to open their businesses in GIFT. Investments from banks, private equity companies, insurance companies and asset management companies were considered.<ref>{{cite web|url=http://articles.economictimes.indiatimes.com/2011-12-15/news/30520461_1_singapore-firms-singapore-government-financial-sector |title=Singapore firms get Gujarat International Finance Tec City (GIFT) invite - The Economic Times |website=Articles.economictimes.indiatimes.com |date=2011-12-15 |access-date=2017-01-03}}</ref>
On 15 December 2011, ''[[The Economic Times]]'' reported city officials in GIFT were inviting companies from [[Singapore]] that wished to expand but could not do so due to a lack of land in Singapore to open their businesses in GIFT. Investments from banks, private equity companies, insurance companies and asset management companies were considered.<ref>{{cite web|url=http://articles.economictimes.indiatimes.com/2011-12-15/news/30520461_1_singapore-firms-singapore-government-financial-sector |title=Singapore firms get Gujarat International Finance Tec City (GIFT) invite - The Economic Times |website=Articles.economictimes.indiatimes.com |date=2011-12-15 |access-date=2017-01-03}}</ref>
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