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February 12, 2024
How GIFT City of India is Based on the Tri-City Approach?
Table of Content
Introduction
GIFT City, India’s first International Financial Services Center (IFSC), was established on a Tri-City approach, strategically located between Ahmedabad and Gandhinagar. This approach aims to enhance regional connectivity and economic collaboration. The GIFT City location offers several fiscal, tax, and operational incentives to the financial services sector, making it a compelling value proposition for investors. In this blog, we will discuss how GIFT City in India is based on Tri-City in India.
What is the Tri-City Approach?
GIFT City in India is strategically located between Ahmedabad and Gandhinagar, adopting a tri-city approach to enhance regional connectivity and economic collaboration. Each of the three areas – GIFT City, Ahmedabad, and Gandhinagar – has a distinct supportive ecosystem to facilitate business, industry, exports, international finance, and foreign investment.
What is the GIFT City location?
GIFT City project is built between Ahmedabad and Gandhinagar in the state of Gujarat. It is an outcome of the state’s planned tri-city approach and is located on the banks of the Sabarmati River between Ahmedabad and Gandhinagar. On the one hand, Ahmedabad is the commercial capital of the state, and Gandhinagar serves as its political capital, a symbol of modern architecture and planning. The Tri-Cities stand together as proud symbols of a bygone era and a future that holds much promise.
- It is 20 minutes from Ahmedabad International Airport
- It is 15 minutes from the nearest railway station.
- On the banks of the Sabarmati river
- Along National Highway 48 (Delhi-Mumbai Industrial Corridor).
- Metro connectivity between Ahmedabad, GIFT City, and Gandhinagar (recognized by the Gujarat Government)
- It is 15 minutes from the proposed bullet train terminus (Ahmedabad – Mumbai. Approved by Govt. of India.)
What is GIFT City Project offering as a Tri-City in India?
GIFT City is a multi-service SEZ with an IFSC and local financial center. It is also India’s first operational Greenfield Smart City and IFSC, promoted by the Government of Gujarat as a hub for global finance and IT services. It was launched with grand aspirations and today, has earned its place in the league of international financial centers.
Future infrastructure development at GIFT City of India has won several awards and accolades at various forums. The Global Financial Centers Index (GFCI) report, London has ranked the International Financial Service Centre (IFSC) in Smart City among 15 centers globally that are likely to become more significant in the next two to three years. It was also ranked 1st in GFCI’s reputational advantage.
GIFT City is spread over 886 acres of land and is being expanded to another 2000 acres of land. It is an integrated city with commercial, residential and social facilities. An area of 261 acres has been demarcated as SEZ and an additional 625 acres has been demarcated as DTA. GIFT City has built high-quality infrastructure in the form of a district cooling system (DCS), underground tunnels, an automated waste collection system and a city-level water treatment plant. Such high-quality infrastructure has contributed to the development of the City as the world’s leading smart city.
GIFT City is well-connected to leading Indian and international cities. GIFT City has been awarded the Platinum Certificate of Green Cities by CII’s Indian Green Building Council (IGBC) for ‘Green Master Planning and Design and Implementation of GIFT City Phase I Development’. Global and Indian companies can consider GIFT City as an ideal destination that aligns with their environmental and sustainability goals.
GIFT City Project Integrated Developments
1. Commercial Business District
The commercial business district is characterized by its smart and intelligent offices, which are designed to cater to the needs of modern businesses. The district is dominated by high-rise buildings that serve as landmarks in the cityscape, creating a sense of prestige and prominence.
2. Technology
In terms of technology, the district boasts broadband FTTP (Fiber-to-the-Premises) connectivity, ensuring high-speed internet access for businesses. The district also offers shared IT services, allowing companies to streamline their operations and reduce costs. Moreover, the district is globally connected, providing businesses with the opportunity to collaborate and expand their reach on an international scale.
3. Residential Zone
The dedicated residential zone within the district is carefully planned to provide comfortable and well-designed residential areas. Residents have the convenience of being able to walk to work, reducing commuting time and promoting a healthier lifestyle. The housing options in this zone are also affordable, ensuring that a diverse range of individuals can find suitable accommodation.
4. Entertainment
The retail cum entertainment hubs in the district offer high-quality entertainment and recreational areas for residents and visitors alike. These hubs feature smart retail spaces, restaurants, and sports areas, providing a vibrant and engaging environment for leisure activities.
5. Mobility
Mobility within the district is well-established, with external connectivity through MRTS (Mass Rapid Transit System) and well-maintained roads. The district also offers efficient public-private transportation options, ensuring that residents and workers can easily navigate the area. Dedicated pedestrian walkways promote a pedestrian-friendly environment, while dedicated multi-level parking facilities cater to the needs of those who prefer to drive.
6. Social Infrastructure
The social infrastructure in the district is comprehensive, with a range of educational institutes including an ICSE school and foreign universities. State-of-the-art healthcare facilities are also available, ensuring that residents have access to quality medical services. This combination of educational and healthcare institutions contributes to the overall well-being and development of the district’s residents.
Summary
The establishment of GIFT City on the Tri-City Approach exemplifies the power of visionary planning and collaborative efforts. By integrating finance, technology, and sustainability, GIFT City location has set a new standard for urban development, offering a blueprint for creating vibrant, resilient, and inclusive cities in the 21st century.
Suggested Read: Background of GIFT City in India
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