Uday Kotak Chairs GIFT City
Analysis based on 6 articles · First reported Feb 13, 2026 · Last updated Feb 14, 2026
The appointment of Uday Kotak, a prominent banker, as Chairman of International Finance Corporation Company Ltd (GIFT City) is viewed positively by the markets. It is expected to enhance the credibility and accelerate the development of GIFT City as a global financial hub, potentially attracting more international investment and participation in India's financial services sector.
Uday Kotak, founder and director of Kotak Mahindra Bank, has been appointed as the new Chairman of International Finance Corporation Company Ltd (GIFT City) by the India — Gujarat government. He replaces Hasmukh Adhia, who served as non-executive chairman since June 2023. The appointment, effective immediately, was announced via a resolution from the United States — United States Department of Housing and Urban Development. Kotak's extensive experience in India's financial sector, including his role in building Kotak Mahindra Bank into a leading private sector bank, is expected to be crucial for GIFT City's goal of deepening global participation and expanding its offerings across banking, capital markets, insurance, and fintech. GIFT City is India's first operational smart city and International Financial Services Centre, designed to be a global financial and technology hub.
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