Uday Kotak has been appointed as the new Chairman of GIFT City by the Gujarat government. The announcement was made through an official order issued by the Urban Development and Urban Housing Department. With this decision, the Uday Kotak GIFT City leadership starts immediately.
The government said that his appointment will continue until further notice. More details about his role will be shared later.
Official Order Issued from Gandhinagar
The order was issued from Sachivalaya in Gandhinagar in the name of the Governor of Gujarat. It was signed by Ankita Shah, Deputy Secretary of the Urban Development and Urban Housing Department.
Uday Kotak replaces Dr Hasmukh Adhia, IAS (Retd.), who was serving as Chairman of the Board of Directors of Gujarat International Finance Tec-City Company Limited since June 19, 2023.
What is GIFT City?
Gujarat International Finance Tec-City, also known as GIFT City, is the first international financial services zone in India. It is established on 886 acres of land in Gujarat and aims to offer contemporary facilities to banks, financial institutions, and multinational companies.
GIFT City provides:
- Modern and world-class infrastructure
- Single-window clearance system
- Easy setup for businesses
- A strong focus on technology and sustainability
It is designed to attract both Indian and international companies.
About Uday Kotak
Uday Kotak is a well known banker and industrialist in India. He is the founder of Kotak Mahindra Bank.
He started his business in 1985 with a small bill-discounting company by borrowing ₹30 lakh from family and friends. Over the years, the company grew into one of India’s largest private banks. It was the first NBFC in India to turn into a bank in 2003.
Today, Kotak Mahindra Bank is the fourth-largest private sector bank in India.
Why Uday Kotak Gift City Appointment Is Important
The appointment of Uday Kotak GIFT City Chairman is seen as a positive move for India’s financial growth. With his long experience in banking, he is expected to help GIFT City grow faster and attract more global investment.
His leadership may strengthen India’s position in international financial services.
Padma Bhushan Honour
In 2026, Uday Kotak was awarded the Padma Bhushan for his contribution to India’s financial sector.
The appointment of Uday Kotak as Chairman of GIFT City is an important development. The financial world is now watching how Uday Kotak GIFT City leadership will guide the smart city toward future success.
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