GIFT City gives nod to Premji fund to invest overseas
Financial Express Mumbai|January 06, 2024
INDIA'S GUJARAT INTERNATIONAL Finance Tec-City, or GIFT City, has given approval to billionaire Azim Premji's wealth fund to set up a family investment fund in the financial hub, two sources with direct knowledge of the matter said.
JAYSHREE P UPADHYAY

Prime Minister Narendra Modi has been looking to revive this decade-old project in his home state, with new breaks aimed at drawing in foreign brokers and companies.

With the approval, the fund will be able to invest overseas, the sources said.

Family investment funds (FIFs) are a type of investment fund managed by a single family and are typically used to invest in diverse assets, including securities, shares, and bullion.

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