PM Modi lays foundation stone of IFSCA HQ in Gandhinagar, says ‘India standing in line with USA, UK and Singapore’
Prime Minister Narendra Modi laid the foundation stone of the Headquarters Building of the International Financial Services Centres Authority (IFSCA) in Gandhinagar.
PM Modi also launched the India International Bullion Exchange (IIBX) and NSE IFSC-SGX Connect.
Speaking at the event Modi said, “International Financial Services Centres Authority (IFSCA) will become an enabler, it will support innovation and also become a catalyst for growth opportunities.”
The event is being hosted by International Financial Services Centres Authority (IFSCA), under the aegis of the Government of India, in collaboration with GIFT City and Bloomberg on December 3 and 4, 2021.
Indonesia, South Africa and the UK are partner countries in the first edition of the Forum, the Prime Minister’s Office informed in a press release.
Addressing the gathering after the inauguration, Modi said that India is now standing in line with countries like USA, UK and Singapore from where global finance is given direction.
“Today India is one of the largest economies in the world. Today a record foreign investment is coming to India,” he said.
Modi further reiterated Indian success in going digital saying that India has an edge and experience when it comes to technology, science and software.
“Today, India alone has a 40% share in real-time digital payments all over the world,” he said at GIFT City, in Gandhinagar.
“In last 8 yrs, the country has witnessed a new wave of financial inclusion. Even the poorest of the poor are joining formal financial institutions. Today, when a large population has joined finance, it’s the need of the hour that govt organizations & Pvt players move together,” the PM added.
IFSCA works as a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.
At present, the GIFT IFSC is the maiden international financial services centre in India.
