Uday Kotak Appointed Chairman of GIFT City by Gujarat Government

Gujarat Names Uday Kotak as Chairman of GIFT City​

The Gujarat government has appointed Uday Kotak as the Chairman of Gujarat International Finance Tec-City Company Ltd., widely known as GIFT City, according to reports.

Kotak will replace Dr. Hasmukh Adhia, who had been serving as the non-executive chairman since June 19, 2023.

Leadership Transition at India’s Financial Hub​

Uday Kotak is the founder and former Managing Director and Chief Executive Officer of Kotak Mahindra Bank. He established the institution in 1985 as a small bill-discounting firm. Over time, it evolved into the first non-banking financial company in India to convert into a bank in 2003. He currently serves as a non-executive director at the bank.

His appointment marks a significant leadership change at GIFT City, which is positioned as India’s flagship international financial services and technology hub.

About GIFT City​

GIFT City is India’s premier Greenfield Smart City, developed across 886 acres with advanced infrastructure and an integrated urban ecosystem.
Designed as a global financial hub, GIFT City combines technology, sustainability, and international standards of development. It offers single-window clearances and approvals under one umbrella, providing plug-and-play infrastructure to businesses seeking accelerated growth in financial and technology services.

With the appointment of Uday Kotak as chairman, the Gujarat government has placed an experienced financial sector leader at the helm of one of India’s most ambitious financial projects.