Prime Minister Narendra Modi on Saturday said the government wants to take GIFT IFSCA beyond traditional finance and ventures and make it the global nerve centre of new age global financial and technology services.
Addressing the 'Infinity Forum 2.0' conference at the Gujarat International Finance Tec (GIFT) City via video link, PM Modi said, "I am confident, GIFT City's products and services will help solve the challenges facing the world. And all you stakeholders have a big role in this."
"One of the biggest challenges facing the world today is Climate Change. India, being one of the largest economies in the world, does not underestimate these concerns, we are conscious of that. Even at the COP Summit a few days ago, India has made new commitments to the world. To achieve the global targets of India and the world, we will have to ensure adequate availability of cost-effective finance," the Prime Minister said.
He pointed out that many initiatives have been started based on the suggestions that were made in the first edition of Infinity Forum in April 2022 with the IFSCA notifying a comprehensive framework to govern fund management activities.
"Today there are 80 fund management entities registered with IFSCA, which have setup funds worth more than USD 24 billion. These two leading international universities have received approval to start their courses in GIFT International Financial Services Centre (IFSC) from 2024. The framework for aircraft leasing was released by IFSCA in May 2022, today 26 units have started operations with IFSCA," the Prime Minister said.
He also said that India's GDP growth of 7.7 per cent in the first half of the current fiscal year reflects the country's strengthening economy based on the transformative reforms carried out by the government.
"In the first six months of this financial year, India has achieved a GDP growth of 7.7 per cent...Today, the entire world has pinned its hopes on India, and this did not happen just on its own. This is a reflection of India's strengthening economy and also the transformative reforms carried out in the last 10 years," Modi said in his inaugural address.
India is one of the fastest growing fintech markets in the world today and the GIFT International Financial Services Centre (IFSC) is emerging as its centre. He urged experts to share their ideas on developing a market mechanism for green credits.
Sushanta demanded Centre to start direct flight service along Agartala-Mumbai route
The state transport minister Sushanta Chowdhury on Monday met the Union Minister of Civil Aviation Ram Mohan Naidu Kinjarapu in Delhi and discussed a series of issues related to the development of air services from Agartala MBB Airport.
CM Dr Manik Saha discuses development railway services and infrastructure in Tripura
Chief Minister Dr Manik Saha on Monday met the General Manager (Construction) of North East Frontier Railway here in his chamber at the secretariat and discussed a series of issues related to the further development of railway infrastructure in the state and ease passenger movement.
State to get Rs 150 Crore for Tourism, Sushanta Meets Union Minister Shekhawat
The Central Government has sanctioned an additional ₹150 crore for the enhancement of Tripura's tourism sector, Tripura Tourism Minister Sushanta Chowdhury announced on Monday.
CM to inaugurate 34 projects of Rs 250 Crore tomorrow
Chief Minister Prof. Dr. Manik Saha will inaugurate and lay the foundation stones of various projects worth Rs 250 crore, comprising 34 projects, in Unakoti district tomorrow.
JP Nadda, BL Santosh arriving in state on March 9: CM Manik Saha
Chief Minister Prof. Dr. Manik Saha today announced that BJP All India National President JP Nadda and National General Secretary (Org) B.L. Santosh will be arriving on March 9 to attend the two-year celebration of the present state government at Swami Vivekananda Maidan.
Two Bihar women held with cannabis at Agartala Railway Station
Acting on a tip-off, the Government Railway Police recovered 21 kg 65 grams of dried cannabis from two women at Agartala railway station. The estimated market value of the seized contraband is said to be over three lakh rupees.
UK PM announces new 1.6-billion-pound deal for Ukraine to buy missiles
British Prime Minister Keir Starmer announced that Britain will allow Ukraine to use 1.6 billion pounds ($2 billion) of British export finance to purchase more than 5,000 air defence missiles.
'PM Modi working for welfare of all communities without discrimination', says Hazrat Nizamuddin Dargah Committee chief
Hazrat Nizamuddin Aulia Dargah Committee Chairman Syed Afsar Ali Nizami on Sunday praised Prime Minister Narendra Modi for attending the Sufi music festival 'Jahan-e-Khusro' and said that he gave the message of brotherhood and works for the welfare of all communities and religion without any discrimination.