India's offshore hub not competing with S'pore: Gujarat business city's CEO

Singapore

COMPARING India's fledgling Gujarat International Finance Tec-City (GIFT) to established finance hubs such as Singapore or Dubai is "not comparing apples with apples" and is "unfair" as these took years to build while the ambitious project in the subcontinent has been operational for far less, said the project's head honcho.

"We are youngsters ... financial services centres are not built overnight. The objective is not to build another Hong Kong, Singapore or Dubai but to look at having some businesses that are being done outside India over here," said Ajay Pandey, GIFT city's group chief executive and managing director.