Gujarat Appoints Veteran Banker Uday Kotak As Chairman Of GIFT City

The Gujarat government has appointed Uday Kotak, a prominent banker and founder of Kotak Mahindra Bank, as the new chairman of the Gujarat International Finance Tec-City (GIFT City). This decision marks a significant transition in leadership, as Kotak takes over from Hasmukh Adhia, a former bureaucrat who has played a crucial role in the development of this ambitious financial hub. GIFT City, located in Gandhinagar, aims to position itself as a global financial center, attracting international investments and facilitating financial services. Uday Kotak's extensive experience in banking and finance is expected to bolster the strategic direction of GIFT City, enhancing its appeal to global investors and financial institutions. His appointment reflects the government's commitment to advancing Gujarat's position in the global financial landscape, particularly in the wake of increasing competition from other financial centers in India and abroad.