Uday Kotak Appointed Chairman of Gujarat International Finance Tec City, Strengthening GIFT City Financial Leadership

The Government of Gujarat has officially appointed Shri Uday Suresh Kotak as the Chairman of Gujarat International Finance Tec City Company Limited with immediate effect. The appointment marks a significant development in the governance and strategic direction of GIFT City, India’s first operational International Financial Services Centre based in Gujarat.

According to the Urban Development and Urban Housing Department Resolution dated 13 February 2026, Shri Uday Kotak succeeds Dr. Hasmukh Adhia IAS Retd., who previously served as Chairman of Gujarat International Finance Tec City Company Limited. The resolution confirms that the new appointment takes effect immediately, and the detailed terms and conditions will be decided separately.

This leadership transition is expected to further strengthen GIFT City’s role as a global financial and fintech hub.

Strategic Importance of the Appointment for GIFT City

GIFT City, officially known as Gujarat International Finance Tec City, was conceptualized as a world-class financial and technology services hub. Over the years, it has emerged as India’s gateway to global financial markets through its International Financial Services Centre framework.

Shri Uday Kotak is widely recognized for building one of India’s leading private sector banks and for his contribution to financial sector reforms. His experience across banking, capital markets, financial regulation, and global finance positions him as a strong strategic leader for GIFT City at a time when India is expanding its international financial footprint.

The appointment signals three major priorities for the next phase of GIFT City growth:

1. Strengthening global investor confidence

2. Expanding international banking and capital market participation

3. Enhancing regulatory credibility and governance standards

   
   

For stakeholders such as global banks, fintech firms, asset managers, and family offices, leadership stability and financial expertise at the top play a critical role in long-term decision-making.

Governance Backed by Official Resolution

The government resolution issued from Sachivalaya, Gandhinagar, confirms that the appointment has been made in the name of the Governor of Gujarat. The formal documentation adds institutional credibility and transparency to the leadership transition process.

GIFT City operates under a structured governance framework involving the Government of Gujarat and regulatory bodies, including the International Financial Services Centres Authority. With increasing participation from global financial institutions, governance quality remains a central factor in attracting cross-border investments.

The appointment of a seasoned financial leader reinforces that governance at GIFT City is aligned with international standards.

What This Means for India's International Financial Services Centre

India’s ambition to position GIFT City as a competitive alternative to global financial hubs requires experienced leadership that understands both domestic policy frameworks and international market expectations.

Shri Uday Kotak’s background in capital markets, banking transformation, risk management, and regulatory engagement is likely to support:

• Expansion of offshore financial services

• Growth of fund management and alternative investment structures

• Development of global bond listings and structured finance products

• Strengthening fintech and innovation ecosystems

  
  

As India deepens its integration with global capital markets, GIFT City plays a strategic role in retaining financial activity within the country while enabling international participation.

Implications for Financial Advisory and CFO Services in GIFT City

For financial advisory firms and CFO service providers operating in GIFT City, this appointment reinforces long-term institutional confidence. Businesses considering setting up IFSC units often evaluate governance, regulatory clarity, and leadership vision before committing capital.

A strong chairman with global financial credibility enhances the perception of stability and policy continuity. This directly supports corporate structuring, cross-border transactions, treasury management, and compliance advisory services within the IFSC ecosystem.

For CFO advisory firms based in GIFT City, including specialized financial strategy and compliance consultancies, this development strengthens the overall value proposition of operating from India’s international financial jurisdiction.

A Defining Moment for GIFT City Growth

The appointment of Shri Uday Kotak as Chairman of Gujarat International Finance Tec City Company Limited reflects Gujarat’s continued commitment to positioning GIFT City as a global financial powerhouse.

As regulatory frameworks mature and international participation increases, leadership with proven financial acumen becomes essential. This transition marks a defining moment for GIFT City’s next growth phase and reinforces its credibility as a trusted international financial center.

For global investors, financial institutions, and advisory professionals, this move signals stability, strategic clarity, and renewed momentum in India’s international financial services vision.

For more info, connect with CA Gaurav Kanudawala, founder of GIFT CFO.

Call: +919726372715

Email: info@giftcfo.com