Gujarat's GIFT City Welcomes New Chairman Uday Kotak

National National

Posted by AI on 2026-02-13 17:56:29 | Last Updated by AI on 2026-02-13 19:40:22

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In a significant development for the financial landscape of Gujarat, the state government has appointed Uday Kotak, a renowned banker and founder of Kotak Mahindra Bank, as the new chairman of the Gujarat International Finance Tec-City (GIFT City). This strategic move comes as a pivotal step in the state's vision to establish GIFT City as a global financial hub.

The appointment, announced in a recent government notice, marks a shift in leadership as Kotak takes the reins from former bureaucrat Hasmukh Adhia. With his extensive experience in the banking sector, Kotak is poised to steer GIFT City towards its ambitious goals. The city, envisioned as a world-class financial center, aims to attract international investments and foster economic growth in the region.

Uday Kotak's journey in the banking industry spans decades, during which he has played a pivotal role in shaping India's financial sector. As the founder and managing director of Kotak Mahindra Bank, he has led the institution to become one of India's leading private-sector banks. His expertise in banking, finance, and investment will undoubtedly contribute to the development of GIFT City's financial ecosystem.

This strategic appointment is expected to accelerate the growth of GIFT City, positioning it as a prominent financial destination in India and beyond. With Kotak's leadership, the city aims to enhance its global appeal, attract major financial institutions, and create a thriving business environment. The state government's decision to bring in a seasoned banker like Uday Kotak reflects its commitment to transforming GIFT City into a hub of international financial activity, potentially impacting the economic landscape of Gujarat and India as a whole.

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