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Gujarat International Finance Tec-City (GIFT City) is a globally benchmarked International Financial Service Centre (IFSC), located in Gujarat, between the cities of Ahmedabad and Gandhinagar. It is planned on 886 acres of land with 62 million sq. ft. of built-up area, of which around 67% is commercial, 22% is residential, and 11% is social facilities. It includes office spaces, residential apartments, schools, hospitals, hotels, clubs, retail, and recreational facilities.
GIFT City allows a free trade zone with various tax incentives enabling the flow of finance, financial products, and services across borders. It further aims to attract foreign capital through a liberal tax and regulatory regime.
Foreign universities operating in GIFT IFSC will be exempted from domestic regulatory purview, including the Higher Education Commission of India, and other related bodies, including the National Assessment and Accreditation Council and the National Board of Accreditation; only the IFSCA guidelines will be applicable. In addition, special tax incentives may be made applicable for GIFT IFSC entitieD, boosting enrolment in GIFT IFSC foreign universities/institutions.
Foreign universities operating in GIFT City are also set to get autonomy in matters such as admissions, entry-level qualifications, examination patterns, fee structure, curriculum, qualification offered, and accreditation requirements.
Grant Thornton can support foreign universities entering India with a robust entry strategy. This strategy will aim to ensure a successful and impactful launch of the university’s operations in GIFT City. By leveraging our expertise and client network, Grant Thornton can help foreign universities establish a strategic foundation, optimising opportunities for growth and long-term success in the Indian education sector.