GIFT City has been set up as a financial hub between Gandhinagar and Ahmedabad near the banks of Sabarmati river. It occupies an area of 886 acres. GIFT is short for Gujrat International Finance Tec-City.

It is an experiment in free markets. Its aim is to become a welcoming place for India-centric trading which had shifted to Singapore, Dubai and Mauritius. The planning of the city started in 2008. Several incentives are being given to the institutes coming to the GIFT City. One can do onshore trading in key currency derivatives contracts without rupee trading. There is a cross-border trading link with Singapore to trade stock derivatives listed in India, without setting up a shop here in India.

IFSC Authority was created in 2020 to streamline approvals and oversight.

There would be a new international bullion exchange that will enable qualified jewelers to import gold to India through GIFT City.

There is an aircraft leasing and financing business in GIFT City. GIFT City is taking steps to internationalise the rupee.