In a monumental departure from its long-standing prohibition, the Gujarat government has sanctioned the consumption of liquor within the confines of the Gujarat International Finance Tec-City (GIFT), marking a historic stride in the state’s dry status that dates back to its inception in 1960.
GIFT, India’s pioneering financial services center situated in Gandhinagar, has earned acclaim for its tax-neutral framework and is now gearing up to rival global financial hubs like Singapore. The decision to permit liquor consumption within GIFT signifies a pivotal shift in strategy, aimed at reshaping it into a cutting-edge nexus for financial services and technology.
The city’s evolution transcends conventional financial services, emphasizing innovation and sustainability as core tenets of its future trajectory. By offering fiscal incentives and a more adaptable regulatory framework, GIFT seeks to attract international investors, technical experts, and esteemed national and multinational corporations.
The Narcotics and Excise Department affirmed the modification in prohibition norms, transforming the landscape within GIFT to a ‘wine and dine’ haven in alignment with the government’s strategic vision for the center.
“In a significant decision, the prohibition rules have been revised to facilitate ‘wine and dine’ facilities within the GIFT City precincts, fostering a global business ecosystem for international investors, technical experts, and national and international companies operating therein,” stated the department.
Under the altered regulations, individuals employed within GIFT City will receive a Liquor Access Permit, granting them the privilege to partake in alcohol consumption within the premises. Moreover, authorized visitors of each company will have the opportunity to indulge in liquor consumption at hotels, restaurants, or clubs with temporary permits, provided they are accompanied by permanent employees of the respective company.
With its tax-neutral stature, regulatory adaptability, and the introduction of ‘wine and dine’ provisions, GIFT City aims to magnetize top-tier global enterprises, reinforcing its position as an aspirational destination for global financial endeavors.
Sources By Agencies
