India's GIFT City Grants First Family Office Permit

India's Gujarat International Finance Tec-City (GIFT City) has issued its inaugural license for a family investment fund, a significant milestone for the financial hub. This move marks a crucial step in establishing a framework for managing substantial private wealth within GIFT City. The issuance of this permit is expected to attract more family offices and bolster the region's position as a key center for wealth management and financial services in India, potentially driving further economic activity and investment.