Fund houses are making a beeline for GIFT City (Gujarat International Finance Tec-City), India’s attempt to create its own global financial hub like Singapore, Dubai, and London. But even as these funds are increasingly choosing GIFT City for launching schemes to invest in international markets, the emerging riverine habitat between Ahmedabad and Gandhinagar, still building its roads and skyline, is scampering to source one of the key resources – qualified workforce.
Last year, over 70 new fund-management entities set up shops in GIFT City, taking the total to 202. Across some 313 schemes, these funds have raised over USD17 billion as of December 2025. Funds formed a significant chunk of the 1,100 institutions registered in the International Financial Services Centre Authority (IFSCA), which also hosts international banking units, insurance companies, and fintech players.