India's global finance-tech hub GIFT City has advanced nine places to rank 37th in the 40th edition of the Global Financial Centres Index (GFCI 40), up from 46th in GFCI 39, it said on Thursday.
The latest ranking also places GIFT City among the top 15 financial centres in the Asia-Pacific region, making it the only Indian centre in this group, stated a release.
"GIFT City has also improved its position in the GFCI FinTech ranking, moving up three places to 26th globally from 29th in GFCI 39. The GFCI report assesses 115 financial centres on their FinTech offering and identifies an innovation-supporting ecosystem, access to finance, skilled talent, the regulatory environment and ICT infrastructure as important elements of a competitive FinTech centre," it said.
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GFCI 40 also features GIFT City among the 15 centres expected to become more significant over the next two to three years, based on mentions by respondents to the GFCI survey.
The improvement in the overall and FinTech rankings reflects the continued expansion of GIFT City's financial services ecosystem and the closer integration of finance, technology and innovation, stated the release.
The report identifies digital infrastructure, including cloud services, data connectivity and cybersecurity resilience; the attraction of FinTech and digital asset businesses; stronger anti-money laundering and financial crime frameworks; and deeper capital markets as priority areas for financial centres over the next five years.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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