SAIL and Zydus Group propose to establish global treasury centres in GIFT City
According to a Businessline report, both companies have applied to use GIFT City as an economic hub
By Capital Kranti desk, Gandhinagar · Editor: Parth Thakkar
11 November 2026, 6:10 pm · 1 min read
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Steel Authority of India Limited (SAIL) and pharmaceutical company Zydus Group have applied to establish Global Treasury Centres in Gujarat International Finance Tech-City (GIFT City), according to information from a Businessline report.
SAIL Global IFSC and Zydus Global Treasury Centre IFSC have proposed to establish Global or Regional Corporate Treasury Centres (GRCTCs) under the GIFT International Financial Services Centre (IFSC) framework. SAIL Global IFSC has proposed an office of 446 square metres on the 6th floor of the Rajashwa One building in GIFT City with an initial workforce of 9 employees. Meanwhile, Zydus Global Treasury Centre IFSC has proposed to establish an office of 315 square metres on the 18th floor of Flexvan.
This development follows a move by Adani Airports Holdings, which had approached the International Financial Services Centres Authority (IFSCA) through its wholly-owned subsidiary AAHL Global IFSC to establish a Global Treasury Centre. This is the second company of the Adani Group adopting the IFSC route. Adani Airports had initially proposed an office space of 7.43 square metres and a workforce of 2 employees, the capital for which will be provided by its parent company.
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