Adani, ArcelorMittal Among Firms Establishing Treasury Units in India's GIFT City
Major conglomerates including Adani Group and ArcelorMittal are among a cohort of large corporates setting up treasury operations within India's Gujarat International Finance Tec-City, commonly known as GIFT City, according to sources familiar with the matter. The move reflects growing corporate confidence in the offshore financial hub's regulatory environment and tax architecture.
GIFT City's International Financial Services Centre offers firms a distinct regulatory regime, allowing treasury units to conduct foreign currency transactions, raise offshore debt, and manage cross-border capital flows under a framework modelled on global financial centres such as Singapore and Dubai. For large industrial and trading conglomerates, the facility offers meaningful efficiencies in working capital management and forex hedging.
The entry of marquee names such as Adani and ArcelorMittal is expected to accelerate the hub's maturation as a credible offshore financial platform, potentially drawing further interest from multinational corporations with significant India operations. The development also signals confidence in India's financial regulatory apparatus at a time when the broader economic environment faces headwinds from global trade tensions.
For Pakistan's financial sector observers, the development is a reminder of the competitive regional financial infrastructure race and the growing attractiveness of structured offshore platforms for corporate treasury management across South Asia.
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