OVERVIEW

• Gujarat has taken a major step towards technological advancement with the inauguration of the AI Centre for Excellence at GIFT City, Gandhinagar .
• BSE has officially launched US dollar-denominated Sensex derivative contracts at the International Financial Services Centre (IFSC) in GIFT City, Gujarat.
• This initiative provides global investors with seamless access to the Indian market while leveraging the strategic benefits of GIFT City.

AI Centre Will Transform Gujarat’s Ecosystem

• The centre will focus on AI-led automation in governance, improving public services through cognitive computing and machine learning.
• The healthcare sector will benefit from AI-powered diagnostics, predictive analytics, and advanced patient care systems
• The education sector will benefit from the integration of AI-driven learning tools, intelligent classroom technologies, and personalized educational models

GIFT City: Global Derivatives Hub

• The Sensex derivative contracts at GIFT City follow a three-month trading cycle, ensuring a structured and systematic approach to trading.
• The minimum ticket size for trading is set at just $1, allowing traders of all scales to participate in the market. The final settlement day for these contracts is fixed on the last Tuesday of the contract month.
• NSE’s GIFT Nifty, migrated from SGX to NSE IX in July 2023, saw a $95 billion average daily turnover in January 2024, reinforcing GIFT City’s rising global financial prominence.

CONCLUSION

• As GIFT City continues to evolve into a global financial and technology powerhouse, these strategic initiatives are reshaping the future of AI, education, and industry collaborations.
• GIFT City’s 22-hour trading and US dollar contracts boost its global appeal, strengthening its dominance in the international derivatives market and India’s financial landscape.