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PwC Survey Finds GIFT City Has Long-Term Promise but Still Trails Traditional Hubs

A new PwC report says tax breaks are the strongest draw for executives considering the Gujarat IFSC.

Overview

  • Nearly half of surveyed senior executives see very high growth potential for GIFT City, and 63% express interest in relocating or setting up operations there.
  • Sixty-eight percent say tax-related incentives are the most influential factor in deciding to establish a presence.
  • PwC concludes the hub remains less operationally mature than Mumbai and Delhi even as it gains traction with global firms.
  • Local talent can fill general roles but specialised positions often require external hiring, with 77% noting finance and tech talent availability as demand rises for skills like blockchain, cloud security, risk tech and global compliance.
  • Recommendations include accelerating ecosystem maturity as sector lines blur, preserving cost advantages through supportive policies and intensifying international promotion to attract investors.