Morgan Stanley is set to begin operations in Gandhinagar’s GIFT City, becoming the first global fund to establish its presence in the rapidly growing financial hub of GIFT IFSC. Currently operating in five offices worldwide, including Mumbai and Bengaluru in India, Morgan Stanley plans to contribute $200 million for the global fund’s initiation and expansion. The establishment of Morgan Stanley’s presence in GIFT IFSC strengthens its commitment to the vibrant financial ecosystem of Gujarat, as announced during the ongoing Vibrant Gujarat Global Summit 2024.
Morgan Stanley – A Leading Global Bank Now Operating in GIFT City
Morgan Stanley, a leading global investment bank and wealth management company, is now extending its operations to GIFT City. With a workforce exceeding 82,000 globally, the company focuses on corporate securities, wealth management, and investment management across three main segments. Morgan Stanley’s foray into GIFT City aligns with the Indian government’s initiative to encourage foreign players to participate in India’s developmental journey, providing a competitive platform for global financial services.
IFSC – An Initiative by the Indian Government
The International Financial Services Centre (IFSC) is an initiative by the Government of India (GoI) to involve foreign players in India’s developmental journey. This platform facilitates international competitiveness for financial institutions, fund managers, various financial products, and services on a global scale. With over 25 banks and international entities, GIFT City has become a thriving financial hub, hosting major global players such as J.P. Morgan Chase Bank National Association, MUFG Bank, Bank of India, BNP Paribas, and more.
GIFT City Hosts Three International Stock Exchanges
GIFT City currently hosts three international stock exchanges and is home to a total of 25 banks, 26 aircraft lessors, and 80 fund managers, including several foreign entities. The city fosters a conducive environment for shipping, building, and leasing activities, with 50 service providers and 40 fintech entities actively operating in GIFT City, promoting a comprehensive financial ecosystem.