The Gujarat government has appointed veteran banker and industrialist Uday Kotak as the Chairman of Gujarat International Finance Tec-City Company Limited (GIFT City) with immediate effect.
The appointment was announced through a resolution issued by the Urban Development and Urban Housing Department on Thursday.
Uday Kotak succeeds Dr Hasmukh Adhia, IAS (Retd.), who had been serving as Chairman (Non-Executive) of the Board of Directors of GIFT City since June 19, 2023.
According to the resolution, the new appointment will remain in force until further orders. The government also stated that the terms and conditions of Kotak’s appointment will be decided separately at a later stage.
GIFT City, India’s flagship international financial services hub located in Gandhinagar, is envisioned as a global financial and technology centre aimed at attracting international investments and financial institutions.
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