This is how Gujarat will be transformed, it will become Singapore or Dubai, know why

Gujarat is in constant discussion these days regarding the assembly elections. But we are going to tell you something other than elections, something that will tell you that Gujarat can become like Singapore or Dubai in the coming days, know what is that…

Gujarat can give tough competition to Singapore and Dubai in coming days

Image Credit source: Pixabay

Often in our country sometimes Delhi to Singapore (Delhi became Singapore)sometimes Mumbai to Shanghai (Mumbai became Shanghai) It is a matter of making. But do you know that Gujarat has the potential to give a tough competition to Singapore or Dubai in the coming days. One of the major reasons for this is the new financial culture emerging in Gujarat.

GIFT City has changed a lot

Prime Minister Narendra Modi (PM Narendra Modi) Adjacent to the state capital Gandhinagar in 2008 when he was the Chief Minister of Gujarat Gift City The foundation was laid. Where ‘Gift City’ is today, there are skyscrapers shining with glass, once this area used to be a place for grazing buffaloes.

‘Gift City’, today is a stronghold of many multinational companies. It has recognized Gujarat as a financial hub of India. Offices from JP Morgan to HSBC Holdings are here, where more than 20,000 people have got jobs.

Gujarat International Finance Tech (GIFT) City It was envisioned as a city that would be a free-market city in India. (free market) promote the The purpose of making it was to bring back such business related to India, which was going to Dubai, Mauritius or Singapore.

After Modi became the Prime Minister, “Gift City” also got policy support and this city also did its job of attracting international investors.

Benefits of doing business in GIFT City

According to the news of Business Standard, companies get many benefits for doing business in ‘Gift City’. Here 100 percent tax holiday businesses get for a whole decade. Foreign universities are allowed to bypass the rules to open their local campuses. Companies operating here can use the international arbitration system to settle disputes. While here International Financial Service Center (IFSC) facility is also provided.

Gujarat will become like Singapore or Dubai

At present, Dubai or Singapore offer many facilities to attract investors. Due to this, businesses move to Dubai or Singapore. Many similar facilities have also been provided in ‘Gift City’. Exemption from complicated rules for converting foreign currency into rupees, promoting offshore trading, facility like trading with Singapore Stock Exchange from Indian Stock Market is present in this city.

All smart city facilities are available

‘Gift City’ is being made like a modern and futuristic city. It is the first city in the country to provide district cooling. There is facility of energy efficient air conditioning system. There is a centralized waste, water and electricity system. Wide and beautiful roads, sports centers, schools, hospitals, electric buses, cinema halls and restaurants serving food from around the world are also here.

English Headline: Gujarat may become Singapore or Dubai as GIFT City makes it India’s new financial hub.