(iii) After establishing the Gujarat International Finance Tech-city SEZ as India's maiden International Financial Services Centre, how does it boost the Indian economy?

The establishment of The Gujarat International Finance Tech-city (GIFT)-IFSC, under Section 18 of the Special Economic Zones Act, 2005, will boost the growth of country and GIFT-IFSC is an important gateway to connect India with global opportunities. The benefits Indian economy will have, from an IFSC are as under: Internationalization of Rupee - Pathway for calibrated approach to internationalization of domestic currency. Gateway for inbound & outbound Capital Flows - IFSC to serve as a captive centre to procure our own requirement for International Financial Services e.g. Banking, Capital Markets, Insurance etc. Employment Generation - Concentration of financial institutions in IFSC to create middle and high-end job opportunities for professionals (Global in-house Centres, Treasury). Regional Financial Integration - IFSC can enable India to play an important role in regional financial integration and increase global influence. Development of Niche Areas - IFSC to be leveraged for development of niche financial sector activities like Bullion Exchange Aircraft & Ship Leasing. Innovation in Financial Services - IFSC can become a Laboratory for India and the world to test new age financial innovations and technologies (FinTech). Thus, the setting up and operationalization of India's maiden IFSC was a bold and historic step which has catapulted India into a 21st century modern, resilient, and sustainable economy.