As per Vedanta, the move will help the company meet broader financial objectives. The incorporation, as per the exchange filing, is in line with the company’s commitment to financial excellence and capital efficiency, and the broader objective of optimizing treasury operations, cost of funding, and liquidity management.

“The proposed subsidiary will act as a financial conduit for treasury and capital market activities, enabling Vedanta to unlock efficiencies and strengthen its financial architecture in a globally competitive environment,” Vedanta said. The subscribed capital of the company is Rs 2 crore.

Vedanta’s move follows a growing trend among Indian corporates leveraging GIFT City for financial operations. Public sector companies such as NMDC Limited and GAIL India Ltd have also established subsidiaries in the IFSC to strengthen treasury capabilities and facilitate global transactions efficiently. Similarly, leading private sector groups like Aditya Birla Group have also set up presence in GIFT City. Major global banks and financial institutions are establishing units there, driven by favorable tax policies, simplified regulations, and the vision of GIFT City as a major international financial hub.

The incorporation aligns with the Government of India’s initiative to develop Gujarat’s GIFT City as a premier international financial hub, providing companies with access to a modern financial ecosystem and regulatory advantages. GIFT City is India’s first and only International Financial Services Centre (IFSC), enabling companies to directly engage with global investors and arrange financing for new projects.

As per the International Financial Services Centers Authority’s latest annual report, the regulator had authorized, registered or licensed around 864 entities across 35 business segments. Regulated entities in GIFT IFSC facilitated inward capital flows of nearly USD 50 billion into India via the banking and fund industry, of which USD 20 billion was in FY 2024-25.

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Monday, 29 September 2025: GIFT City is fast emerging as a rising global financial and technology hub, with nearly half (49%) of senior executives surveyed indicating very high growth potential for the region’s role as a hub for the Banking, Financial Services and Insurance (BFSI) sector, according to PwC India’s latest report titled, “Moving the needle on Gujarat’s GIFT City.”

The survey of 200 respondents reveals strong interest from businesses to establish or expand operations in GIFT City, with 63% of senior executives expressing intent to relocate or set up business operations there.

Sanjeev Krishan, Chairperson of PwC India said, “GIFT City represents a transformative opportunity for India to strengthen its position in the global financial services and technology ecosystem. While the region has already made significant strides, bridging gaps in talent availability, lifestyle infrastructure and ecosystem maturity will be key to unlocking its full potential. We are actively guiding clients on how to leverage GIFT City’s advantages — from evaluating business models to regulatory navigation and talent strategies. This is the moment to build on the strong policy framework and create a thriving global hub that reflects the ambitions of kal ka Bharat.”

While 77% of executives believe finance and technology talent is available in GIFT City, the demand for specialised roles — including blockchain, cloud security, risk technology and global regulatory compliance — is rapidly growing. Gayathri Parthasarathy, Partner and Leader – Financial Services, PwC India said, “Our survey findings show that GIFT City is gaining enormous traction as a rising global financial and tech hub, and businesses are incredibly optimistic about GIFT City’s future. As the ecosystem matures, with the right talent and regulatory impetus, GIFT City can be the nucleus for India’s next wave of BFSI and technology innovation.”

Clients increasingly view GIFT City not just as a regulatory or tax-friendly jurisdiction, but as a long-term strategic base to serve global markets, build innovation capabilities and attract high-quality talent. The city is becoming a test bed for next-generation financial services and technology models, where global institutions and Indian enterprises alike can co-create solutions for the future. As India accelerates towards the vision of kal ka Bharat, GIFT City stands out as a symbol of what’s possible when policy, innovation, and global ambition come together.

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Students can apply for a range of Master’s programs in Computing (Data Analytics), Financial Technology (FinTech) and Financial Technology (FinTech) Extension.

Orientation for the new batch will be held from 7 to 13 July 2025 with lectures commencing from 14 July 2025 on campus.

In the ongoing effort to provide globally relevant and career-focused education in India, UOW has partnered with various Indian organizations, including IBM India, a technology and consulting firm, ANZ Bank, a multinational financial and banking services company headquartered in Melbourne, Afthonia Labs, a FinTech incubator and Odoo, a business software suite, and many more to enhance education and industry readiness in fields like FinTech, AI/ML, Cyber Security and cloud computing.

“As India deepens its journey into a digitally powered economy, the demand for talent in areas like FinTech and computing is more pressing than ever” said Nimay Kalyani, Campus Director of UOW India.

“At UOW India, we see this not just as a gap in the market, but as a meaningful opportunity to shape leaders and innovators of the future through programs that are globally benchmarked and deeply aligned with industry. –

“Our commitment is to nurture job-ready graduates who will contribute meaningfully to India’s growing digital economy and help realise the broader vision of Viksit Bharat 2047 – vision that relies on a new generation of highly skilled, adaptable professionals over the next decade.”

As part of the collaboration, students will gain access to guest lectures from industry experts, industry projects, internship opportunities, academic mentorship, and job placement assistance for a variety of roles in a wide range of industries, from BFSI to software development, to start ups, IT industry and beyond.

Under the government of India NEP 2020, the Australian varsity has also partnered with Indian universities across the nation. Universities such as Gujarat Technological University, Sardar Vallabhbhai Global University, NMIMS Mumbai, Karnavati University, Institute of Advance Research, Gardi Vidyapith and a few others in Gujarat.

Similarly, Manav Rachna University, Amity University (Jaipur), Chitkara University, Chandigarh University and Lovely Professional University in the north. The south has seen Rama Devi Women’s university, Duxford International Business School, SRM University, VIT and many more.  These partnerships are focused on establishing strategic academic collaborations while incorporating the NEP2020 initiatives.

UOW India provides industry aligned education and practical professional development modules that cater to the current needs of small, medium and large organisations in India including MNCs.

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The project, which is at an advanced stage of pre-delivery, is contingent on regulatory approval from Gujarat’s International Financial Services Centres Authority (IFSCA) under the International Branch Campus Regulations, in place to position GIFT City as an Indian hub for international higher education providers. Professor Lu and representatives from GGS will be meeting with IFSCA in GIFT City on Friday 31 January to progress discussions.

Delivery of the new India campus will be a partnership combining the University of Surrey’s teaching and research excellence in business, international finance, computer science, cyber-security and other areas aligned with the strategic vision of GIFT City with GGS India’s proven capabilities as a strategic partner for higher education providers. All teaching and academic assurance will be delivered and led by University of Surrey staff. Ancillary services, such as strategic advice on India entry, student enrolment, campus establishment and operations management, will be provided by GGS, ensuring a seamless setup and operational excellence.

The University of Surrey and GGS are working closely with officials from the British High Commission and the British Council in India. The project will help cement ties between the two countries and is closely aligned with Government of India priorities to expand education and become a global knowledge superpower. The UK Government has expressed its appetite for collaboration across a range of scientific priorities and opportunities to drive greater growth for both countries.

Professor GQ Max Lu, President and Vice-Chancellor of the University of Surrey, said:

“The University of Surrey campus at GIFT City will be a shining example of British education excellence and impact, contributing to transnational education in a more globalised world. We are proud and excited to be part of the GIFT City story, where we’ll combine India’s strengths in the global financial sector with the University of Surrey’s academic and teaching competencies in business, finance and computer science.

“Students can look forward to a world-class education delivered at the heart of a thriving new international finance and technology powerhouse for the region. Together we’ll be contributing to the skills and growth agendas of both our countries.”

Dr Sharad Mehra, Regional CEO – Asia & Australia, Global University Systems (GUS), said:

“This initiative seeks to expand world-class academic standards and global learning experiences available in India. It will offer Indian students the opportunity to access transformative education without leaving the country. The collaboration aligns with India’s higher education goals, such as improving global competitiveness, offering world-class education locally, and contributing to the National Education Policy (NEP) 2020’s emphasis on internationalisation.”

Aaron Etingen, Executive Chairman and Chief Executive Officer of Global University Systems, said:

“This strategic alliance between the University of Surrey and Global University Systems in GIFT City represents a significant milestone in transnational education. The collaboration aligns perfectly with our vision of transforming lives through education while supporting India’s ambitions to become a global knowledge hub. By bringing together international expertise and local knowledge, we’re creating pathways that will empower students and strengthen communities. It combines Surrey’s academic excellence with Global University Systems’ proven expertise in educational services, creating new opportunities for students in India to access world-class British education.”

The University of Surrey and GGS delegations will be travelling together from the announcement at the QS India Summit in Goa to GIFT City on January 31 for high-level meetings to accelerate progress on the project, which is designed to grow a talent pool in GIFT City, ready to thrive in a globally-connected world.

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The two-day IDS 2025 is being organized by the Internet and Mobile Association of India (IAMAI) in collaboration with the Ministry of Electronics and Information Technology (MeitY), and the Ministry of Information and Broadcasting, Government of India, supported by Digital India, Skill India and Make in India.

 Elaborating on  the facilities of the GIFT City, Shri Shah said, “It has an innovation box and sandbox for startups to experiment and direct authorization for revenue-generating fintechs to start commercial activities on day one. Currently, 44 fintech firms from 70 countries are onboarded in GIFT City, taking advantage of its partnerships with regulators outside India, such as Singapore, Luxembourg, and Sweden. These partnerships enable fintechs to onboard parallelly into other sandboxes, expanding their reach.”

Shri Shah added, ” GIFT City is India’s first digging-free City with no work-in-progress boards because every utility runs underground, and the utility tunnels are about 7X7 meters in size, so the maintenance vehicle can go inside and repair easily. As a result, the citizens don’t face any problems when the City is under maintenance. The City also runs on India’s first district cooling concept. None of the buildings have split AC or window activities at the city level. Everything runs on a district cooling system. There is also an automated waste management system under which no garbage van comes into the City to dispose of the garbage. There is also a mandate that no manufacturing or polluting industry can operate in that City. It gives you a flavor of a focused approach to making this a finance and technology hub. ”

The 19^th IDS is being Powered by NPCI. Amazon.in and MPL are Platinum partners. Among Gold Partners are PhonePe; Australia Trade and Investment Commission; IDA Ireland; Paytm ads, Jagran New Media and Exotel. Route Mobile is the Cloud Communications Partner. Silver Partners include AWS, ShareChat, Shiprocket; Times Internet, and TV9 Network.

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Shri K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), remarked the significance of embracing innovative financial instruments and leveraging GIFT IFSC ecosystem to advance India’s sustainable development agenda. He stated that “The GIFT IFSC banks have advanced over USD 1.5 billion in green credit, the bond markets have an outstanding of USD 13.07 billion in GSS+ bonds and the 1^st ESG fund is already operational. On the workshop, he remarked, “Capacity building empowers all stakeholders with the knowledge and tools necessary to develop and implement innovative solutions. This workshop is a significant step towards enhancing our collective ability to channel green capital effectively to green businesses. Understanding and Capacity to handle new age instruments such as Transition bonds to steer the energy transition in India is direly required. The workshop fulfils that need.”

Ms. Wendy Werner, India Country Head, IFC, highlighted the urgent need for innovative financial solutions to combat climate change. She stated, “Along with our partners, IFC aims to drive the future of sustainable finance with innovative tools like GSS+ Bonds. We’ve raised over US$13.7 billion through social and green bonds and invested US$14.4 billion in FY23, channeling capital into initiatives that truly make a difference. Our mission is to collaborate with issuers and stakeholders to scale these efforts and tackle urgent climate challenges head-on. We deeply value NSE’s partnership in championing these critical financial instruments. Together, we’re committed to building a more resilient and sustainable future.”

Shri Ashishkumar Chauhan, MD & CEO of NSE, expressed his vision for a future where sustainability is embedded within financial markets. He stated, “Through these series of capacity building workshops on GSS+ Bonds, we are calling upon leaders and innovators to leverage thematic labelled bonds as catalysts for transformative change and lead sustainable development in our economy. We’re paving the way for a future where sustainability is interwoven with investment—creating a robust ecosystem that aligns financial mechanisms with our shared environmental and social goals while propelling India towards its net-zero ambitions.”

Over the course of the two-day workshop, insightful panel discussions were also organized. The theme of the first panel discussion – “GIFT City as a Gateway to India’s Climate Finance: Enablers and Roadblocks” was conducted with esteemed panelists Shri Pradeep Ramakrishnan (Executive Director, IFSCA), Mr. Ramesh Ramanathan (IFC), Mr. Alok Khetawat (Standard Chartered), Dr. Zafar Khan (Highways Infrastructure Trust), and Mr. Liam Marshall (BeZero Carbon). The discussions revolved around how GIFT City could serve as a gateway for India’s climate financing needs while addressing the challenges and opportunities in this emerging landscape.

The theme of second panel discussion – “Developing Taxonomy for GSS+ and Transition Bonds to Strengthen Sustainable Finance and Addressing the Challenges of Greenium in India” was conducted with esteemed panelists – Dr. Harish Ahuja (NSE), Mr. Gagan Sidhu (CEEW), Mr. Rohit Inamdar (CareEdge Ratings), and Ms. Oluwatoyin Alake (IFC). The panelists shared their insights on the quantum of sustainable financing requirements to meet Net-Zero energy transitions, the role of GSS+ bonds, the benefits of having a green taxonomy and how GIFT City will be positively impacted by having Taxonomy in place.

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Commenting on the development, Chairperson & Managing Director of IREDA, Pradip Kumar Das, said that IREDA’s presence in GIFT City signifies a momentous step in its mission to pioneer innovative approaches to green financing.

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This GIFT city entity will function as the Global Treasury Centre to cater to the treasury activities of OVL and its 25 subsidiaries (including step-down subsidiaries) spread across 15 countries. Given the business-friendly regulatory environment in GIFT City, OOIL expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 Million Metric Tonnes Oil & Oil equivalent (MMToe) by 2040 from overseas assets.

Incorporation of wholly owned subsidiary of OVL Overseas IFSC Ltd. (OOIL) in GIFT City, Gujarat. Seen inset during the inaugural. Sitting in the center on the Left Secretary Petroleum, MoPNG, Shri Pankaj Jain and on the right Chairperson IFSCA, Shri K Rajaraman , Chairman ONGC, Shri Arun Kumar Singh, Managing Director OVL, Shri Rajarshi Gupta and Director Finance OVL ,Shri Anupam Agarwal are seen during the deliberations

With India’s first International Financial Services Centre at GIFT City now operational, it will give option to Indian and overseas multinationals to shift their overseas investments onshore. OOIL will, thus, act as ONGC Group’s gateway to the world for its overseas ventures and investments.

Secretary Petroleum, MoPNG, Shri Pankaj Jain inaugurating the Global Treasury Center at GIFT City, Gandhinagar. Seen joining him on the occasion the Chairperson IFSCA, Shri K Rajaraman. MD-OVL lighting the ceremonial lamp on the occasion.

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