Kalyanaraman Rajaraman, Chairperson, International Financial Services Centres Authority, while sharing the roadmap for how IFSCA is trying to develop a strong global connection for India and ensure ease-of-business with other countries during a conversation with Sourav Majumdar, Editor, Business Today, said that GIFT city is going to play a major role in bringing in adequate capital for the fulfillment of a developed India by 2047.
“The fund industry and the banking sector will play a pivotal role in making India a $30 trillion economy by 2047,” he added.
While mentioning the need for the kind of talent required for the GIIFT city, Rajaraman said, "It's about the quality of talent. We have put in place an advanced training framework. We also want to bring foreign universities."
He further pointed out that there will be advanced courses on cybersecurity, tech, advanced financial management and others. “The whole idea is that the talent that comes out of university should meet the requirements of the financial sector,” he added. It will also focus on research and executive education.
On green financing, Rajaraman mentioned that the main objective is to create IFSCA into a sustainable finance platform. “Our objective is to build IFSCA into a sustainable finance platform for India,” he said adding that, “The 26 banks have been asked to bring together a sustainable policy in place and we have told them to make 5% of the portfolio as green.”
“We are putting place a committee that will look after contributions of GIFT City towards infrastructure,” he concluded.