Karnataka seeks Gujarat’s GIFT city-like facility for state from Centre ahead of Union Budget

The Karnataka government on Friday made a pitch to the Centre for establishing a dedicated Central Business District, modelled on the lines of Gujarat’s GIFT City in the state, besides seeking faster clearance for multiple projects across sectors.

The demand was part of a ‘wishlist’ IT & BT minister Priyank Kharge sent to Union finance minister Nirmala Sitharaman and Union IT minister Ashwini Vaishnav ahead of the Union Budget.

Karnataka, he wrote, wanted to set up a Central Business District that would act as a global financial and IT hub. “The state has a vibrant economy with IT, BT, aerospace, automotive, textiles, and heavy industries forming the cream of the investment pie. The state is strategically located, and is well-positioned to replicate a similar business [on the lines of GIFT city] hub in its bosom,” he said.

A GIFT City in the state would boost economic growth and create numerous employment opportunities and attract foreign investments, he added. “Karnataka’s IT credentials are beyond compare or dispute, with the state standing third in the country with $4.5 billion worth of electronic exports, is the most innovative with 46% of the national share, and contributing 10% to India’s industrial output,” he said.
Gujarat International Finance Tec-City, also called GIFT City, is a central business district in Ahmedabad district in Gujarat. It is India's first operational greenfield smart city and international financial services centre.

The minister also appealed to the Union government to fast-track approvals as investors were waiting for the final land allotment. He sought funding support for galvanising infrastructure upgrade, developing industry-specific skilling programmes and bridging the gap between skill requirement and disposable talent pool present in the state, research and development initiatives.