Gujarat Chief Minister Pitches GIFT City to World Bank

Chief Minister Bhupendra Patel led a series of high-level roundtable meetings with World Bank officials in Washington to position Gujarat as a global gateway for international capital, artificial intelligence, and financial services. Patel detailed a vision to evolve GIFT City into an integrated ecosystem for fintech and innovation, while advocating for the rapid adoption of AI across healthcare, education, agriculture, and state administration to accelerate growth.

During the discussions, Patel requested concessional financing for development projects in Gujarat, citing the state's financial discipline. He highlighted plans for semiconductor manufacturing and the expansion of social infrastructure to improve liveability for global talent. GIFT City Managing Director Sanjay Kaul reported that the center housed over 1,200 entities with bank assets exceeding $111 billion as of March 2026.

World Bank and International Finance Corporation (IFC) officials acknowledged the city's emergence as a capital channel, noting that the IFC has invested nearly $400 million through the center. However, representatives emphasized that long-term success depends on sustainable incentives and the ability to attract global talent. Additionally, the International Monetary Fund noted the challenges of the current global economic environment and the necessity of dialogue between Indian states and the central government.