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Recently, Gujarat International Finance Tec-City (GIFT City) has been ranked top in the country in India in the 37^th edition of the Global Financial Centres Index.

More on the News

• 37th GFCI provides evaluations of future competitiveness and rankings for 119 financial centres around the world.
• 133 financial centres were researched and of which 119 are in the main index.

Key Highlights of the Index

• In the overall rankings, GIFT City, which has the country’s first International Financial Services Centre (IFSC), was ranked 46th in the GFCI (in the previous index, it was ranked 52nd), while Mumbai was at 52 and Delhi at 60.
• Gift City has secured the top rank in the ‘reputational advantage’ parameter and climbed from 45th to 40th place in the FinTech ranking.
• GIFT City’s strong performance in the rankings reflects its growing reputation, investor confidence, and its role in driving financial innovation.
• New York leads the index, with London second. Hong Kong retains the third position ahead of Singapore.
• San Francisco, Chicago, Los Angeles, Shanghai, and Shenzhen are unchanged in fifth to ninth positions. Seoul re-entered the top 10 centres in this edition of the index.
• Six Asia/Pacific centres feature in the world's top 20, and the average rating for this region is up 2.06%.
• New York retains its leading position in the Fintech ranking, followed by London and Shenzhen.

Global Financial Centres Index (GFCI)

• China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London collaborate in producing the GFCI. 
• It evaluates financial hubs worldwide based on 140 instrumental factors provided by third-party organisations such as the World Bank, Organisation for Economic Co-operation and Development (OECD), and the UN. 
• The world's most authoritative comparison of the competitiveness of the world’s leading financial centres.
• The Global Financial Centres Index (GFCI) was first published in 2007, with the support of the City of London Corporation.
• The GFCI is updated and published every March and September, and receives considerable attention from the global financial community.