Saudi Arabia looks to set up office in Gujarat's GIFT city

  • Admin
  • 27/09/2023

Saudi Arabia looks to set up office in Gujarat's GIFT city

Source: India Today


Commerce and Industry Minister Piyush Goyal invited Saudi Arabia's Public Investment Fund (PIF) to establish an office in GIFT City. Saudi Investment Minister Khalid Al-Falih said, "I will reciprocate your offer and confirm the opening of an office today."

In a significant effort to enhance global partnerships, Saudi Arabia has recently announced its plans to establish an office in Gujarat International Finance Tec-City (GIFT City), India’s pioneering smart city and international financial services centre situated near Ahmedabad, Gujarat. This strategic decision holds immense promise for both nations, ushering in a new era of economic collaboration and innovation.

Saudi Arabia's Strategic Move

Prince Fahad Bin Mansour Al-Saud - "There are more than 50 MoUs signed between India and Saudi Arabia. Relationship between India and Saudi Arabia have been great and will lead to many investments in years to come."

Saudi Arabia’s move to establish an office in GIFT City signifies a significant boost for India’s trade and investment landscape. As India’s fourth-largest trading partner and a vital source of oil imports, Saudi Arabia’s presence in GIFT City opens avenues for streamlined access to the Indian market and the wider region. Leveraging GIFT City’s financial services platform, encompassing banking, insurance, capital markets, and asset management services, Saudi Arabia stands to benefit immensely.

Mutual Benefits for India and Saudi Arabia

PM Modi said “We together made a historic beginning to establish an economic corridor between India, West Asia, and Europe. This corridor will enhance economic cooperation, energy development, and digital connectivity."

This development not only strengthens economic ties but also fosters collaboration in sectors like energy, security, defence, education, and culture. India and Saudi Arabia, sharing common interests and values, are poised to further fortify their strategic partnership in regional and global affairs.

The impact of this decision is far-reaching. GIFT City and Gujarat are set to witness an influx of opportunities, jobs, and revenue, bolstering the local economy. Foreign investors and businesses are expected to flock to GIFT City, enhancing its global competitiveness and visibility. This collaboration not only augments Saudi Arabia’s foothold in the Indian market but also paves the way for greater innovation and entrepreneurial spirit in Gujarat.

GIFT City: A Beacon of Progress

India’s first operational smart city stands as a testament to the nation’s vision for sustainable urban development. Boasting world-class infrastructure, seamless connectivity, and unparalleled facilities. The city’s unique offerings include tax incentives, regulatory simplicity, and an environment conducive to innovation and growth.

We are excited about this pivotal moment in GIFT City as this development signals a bright future for the city and Gujarat as a whole.

If you are also curious about the exciting investment opportunities in GIFT City, make sure you reach out only to a trusted Real Estate Agency like Kunvarji Realty, where experts understand you emotionally and connect with you professionally.

Whether you are in search of a residential haven, a strategic commercial space, or a vibrant retail outlet, we have a diverse portfolio to cater to every requirement. With a range of services including property management, leasing, brokerage, and advisory, Kunvarji is dedicated to assisting you to find properties tailored to your needs.

We invite you to explore the endless possibilities that GIFT City presents and the services we offer at Kunvarji Realty. We are ready to assist you with all your real estate queries. Reach us at +91 6359862253

Stay tuned with Kunvarji Realty for more relevant updates.

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The information, details and specifications about the projects on this site are as provided by the developers and/or sellers to the best of our knowledge and it is advisable that the same be verified by the respective buyers & sellers. Kunvarji Realty Brokers is not a developer. Rates are indicative and subject to change without prior notice.
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