Taiwan’s CTBC Bank to Open Branch in GIFT City, Strengthening Global Financial Ties.
Banking & Finance
In January 2025, CTBC Bank, a leading Taiwanese lender, secured approval from Taiwan’s Financial Supervisory Commission (FSC) to establish its first branch in Gujarat International Finance Tec‑City (GIFT City), India’s pioneering smart and financial hub. Pending final clearance from Indian authorities, this move marks CTBC as the first Taiwanese bank to directly enter GIFT City’s International Financial Services Centre (IFSC).
- Launched in April 2015 and operating under the International Financial Services Centres Authority (IFSCA), GIFT City is India’s premier Greenfield smart city and IFSC located in Gandhinagar, Gujarat. Spanning 886 acres, it currently hosts over 850 financial and tech entities, including 23 public sector banks, multinational lenders, and two international stock exchanges.
- CTBC Bank joins Taiwan’s growing presence in GIFT City, including Taipei Fubon Commercial Bank, which received its FSC approval in July 2025. Indian regulators are actively encouraging Taiwanese investment, citing regulatory alignment, tax benefits, and market access as strong drivers.
Main Point :- (i) GIFT City offers clear advantages: single-window approvals, regulatory parity with global centres, plug-and-play infrastructure, and preferential tax regimes. For foreign banks, it provides a cost-effective platform to offer comprehensive services—ranging from trade finance to treasury and cross-border operations.
(ii) If operationalised, CTBC Bank will leverage its existing network in New Delhi and Sriperumbudur, and Taiwan branches to serve both Indian and Taiwan-based clients. Its expansion into GIFT City will help it tap into India’s growing financial services market and reinforce bilateral trade links.
(iii) With growing global bank entries like CTBC and Taipei Fubon, GIFT City continues to solidify its status as a global financial nucleus. The IFSC aims to scale further through policy incentives and infrastructure upgrades, projecting India as a competitive alternative to global centres such as Singapore and Dubai.
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