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Google plans to establish a worldwide fintech operations center in GIFT City

Saudi Arabia is considering the establishment of an office for its sovereign wealth fund, the Public Investment Fund (PIF), in India’s Gujarat International Finance Tec-City (GIFT), according to Saudi Investment Minister Khalid Al Falih.

GIFT City, a tax-neutral financial services center, is part of India’s efforts to compete with financial hubs like Dubai and Hong Kong.

During a state visit to India by Saudi Crown Prince Mohammed bin Salman, India and Saudi Arabia signed numerous agreements and discussed a joint task force for $100 billion in Saudi investments in India. However, there is no specified timeline for these investments.

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