Gujarat Government Appoints Uday Kotak As Chairman Of GIFT City: Reports

The Gujarat government has appointed Uday Kotak, the former CEO and managing director of Kotak Mahindra Bank, as the chairman of the Gujarat International Finance Tec-City (GIFT City). This move comes after Kotak's recent transition to a non-executive director role on the bank's board following his early retirement in 2023. GIFT City, envisioned as a global financial hub, aims to attract international businesses and enhance India's position in the global financial landscape. Kotak's extensive experience in banking and finance is expected to play a crucial role in steering GIFT City towards achieving its ambitious goals. His appointment is part of a broader strategy by the Gujarat government to bolster economic development and investment in the region, leveraging Kotak's expertise to enhance the city's infrastructure and services for financial institutions. This development is significant as GIFT City continues to evolve as a pivotal player in India's economic growth, aligning with the country's aspirations to become a major global financial center.