Gujarat govt appoints veteran banker Uday Kotak as chairman of GIFT city

The Gujarat government has announced the appointment of Uday Kotak, a renowned banker and founder of Kotak Mahindra Bank, as the new chairman of the Gujarat International Finance Tec-City (GIFT City). This decision comes as Hasmukh Adhia, the previous chairman, steps down from his position. GIFT City, envisioned as a global financial hub, aims to attract domestic and international investments by providing state-of-the-art infrastructure and regulatory frameworks. Kotak’s extensive experience in the banking sector is expected to drive the growth and development of this ambitious project. His leadership is anticipated to enhance GIFT City's reputation as a competitive financial center, aligning with India's broader economic goals. With Kotak at the helm, stakeholders are hopeful for innovative strategies to bolster the city's appeal and operational efficiency in the rapidly evolving financial landscape.