Some people have a selective memory when they want to blame everything on Hon PM @narendramodi ji’s Government !
High Power Committee of GOI submitted a report in February 2007 to create #IFSC .
Neither Govt of Maharashtra submitted an official proposal nor GOI considered it.
High Power Committee of GOI submitted a report in February 2007 to create #IFSC .
Neither Govt of Maharashtra submitted an official proposal nor GOI considered it.
In 2007, at Vibrant Gujarat Summit, the then Gujarat CM Hon @narendramodi ji announced GIFT City Ahmedabad to be developed as IFSC and appointed ECADI for its planning.
By 2012 all plans of #IFSC at Gujarat were ready and work had almost started.
By 2012 all plans of #IFSC at Gujarat were ready and work had almost started.
In 2015,Govt of India enacted a law to govern IFSC&immediately Gift City proposal was submitted & eventually Mumbai’s proposal was also submitted.
GIFT city was in advanced stage so it got approval&Mumbai BKC proposal faced technical problem for want of 50 hectare contiguous land
GIFT city was in advanced stage so it got approval&Mumbai BKC proposal faced technical problem for want of 50 hectare contiguous land
A solution was found to it & again a proposal was sent after appointing consultants & making all the plans.
The CentralGovt also took into account the #IFSC plans at BKC while planning the bullet train station & station is planned in such a way that IFSC building will come on it.
The CentralGovt also took into account the #IFSC plans at BKC while planning the bullet train station & station is planned in such a way that IFSC building will come on it.
In the meantime GIFT city had already started functioning & the then FM Late Hon Arun Jaitely ji said that we are trying to see if 2 IFSCs can coexist.
GoM submitted a report on how they can coexist and that is still under consideration.
GoM submitted a report on how they can coexist and that is still under consideration.
The headquarters is announced at Gandhinagar because as of now it is the only functional #IFSC .
Those who are beating the chest now were in power from 2007 to 2014 & did nothing for Mumbai #IFSC and that void was captured by the then CM Hon @narendramodi ji.
Those who are beating the chest now were in power from 2007 to 2014 & did nothing for Mumbai #IFSC and that void was captured by the then CM Hon @narendramodi ji.
Mumbai has a natural IFSC ecosystem and it can still become IFSC if Maharashtra Government desires.
In December 2019 the Government of India enacted a law to create an Authority to regulate financial services center and its headquarters is now notified in Ahmedabad.
