India Finds Out How Hard It Is to Build a Finance Hub From Scratch
GIFT City has attracted global banks with tax breaks and modern infrastructure, but the vibrant community its planners promised remains far from reality.
A world away from the traffic-choked streets of Mumbai where he lived and worked for 25 years, Mahesh Chhabria now begins his day with a run through his leafy new neighborhood.
The 49-year-old fund manager’s serviced apartment in GIFT City, an up-and-coming financial hub in western India, is only a 10-minute drive away from the office. Freed from a tortuous commute, he’s now enjoying a more relaxed lifestyle.