23 March 2024 – In an interview with Sourav Majumdar, Editor of Business Today, Kalyanaraman Rajaraman, Chairperson of the International Financial Services Centres Authority, shared the roadmap for how the organization is working to establish a strong international connection for India and guarantee ease of business with other nations.
He said that GIFT City will be crucial in attracting sufficient capital to realize the goal of a developed India by 2047.
He went on to say, “The banking and fund sectors will be essential to turning India’s economy into a $30 trillion economy by 2047.” Rajaraman said, “It’s about the quality of talent,” in reference to the sort of skill needed for the GIIFT city. We have established a sophisticated training structure. We also want to include universities from outside.”
Conclusion
Regarding green finance, Rajaraman said that the primary goal is to transform IFSCA into a platform for sustainable finance. He said, “The 26 banks have been asked to bring together a sustainable policy in place and we have told them to make 5% of the portfolio as green. Our objective is to build IFSCA into a sustainable finance platform for India.” “We’re setting up a committee to oversee GIFT City’s infrastructure contributions,” he said in closing.
