Grant Thornton Bharat, an assurance, advisory and consulting firm commenced operations from its new office in Gujarat International Finance Tec-City (GIFT City)—India’s first operational smart city and International Financial Services Centre (IFSC), on 1 April 2022. The new office has been set up after obtaining requisite approvals.
GIFT City’s MD and Group CEO Tapan Ray said, “GIFT City is evolving as the preferred destination for doing business for many renowned Indian and International players offering ancillary services. As businesses continue to evolve in the new normal, we expect ancillary services providers to equip themselves with future-ready perspectives at par with other global financial centres, that will define the growth trajectory.”
Grant Thornton Bharat CEO, Vishesh C Chandiok, termed the move as a conscious decision, adding that the onus to create a vibrant nation does not solely depend on the government and public sector, but private sector corporates and businesses also have a key role to play. He further added, “The Union government and the Gujarat government have been focusing on developing IFSC and creating a global benchmark. As a firm working in tandem with authorities towards the betterment of the financial ecosystem of the country, it was important for Grant Thornton Bharat to be fully aligned with this project.”
Notably, the firm has been working with the GIFT City Authority for many years and has been advising clients about the uniqueness and tax and regulatory advantages which it offers to Indian and overseas financial institutions and their various participants.
“Being the first IFSC in the country, it is imperative for banks, insurers, fund managers, stock exchanges, capital market intermediaries, law firms, accounting firms and business consultancies to be a part of this ecosystem and actively get involved in India’s growth story,” Chandiok added.