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GIFT City, Mumbai, Delhi in list of top financial hubs
Mumbai climbed four spots to 54th in the latest edition of the Global Financial Centers Index by Z/Yen and the China Development Institute (CDI)
GIFT City in Gujarat jumped five places to 52nd in a ranking of global financial centers topped by New York and London.
Mumbai climbed four spots to 54th in the 36th edition of the Global Financial Centers Index (GFCI 36) by Z/Yen and the China Development Institute (CDI).
Delhi, the only other Indian city on the list, rose seven places to 68th.
In Asia, Hong Kong overtook Singapore to reclaim the third position. San Francisco remains at No. 5, with Chicago and Los Angeles overtaking Shanghai to sixth and seventh, pushing the Chinese city to eighth position. Shenzhen and Frankfurt complete the top 10.
Cities in the Middle East were among the high-jumpers, with Doha jumping 24 places to 64th and Riyadh rising 21 spots to settle above Qatar’s capital.
The GFCI 36, compiled by Z/Yen—a City of London think tank—and CDI, evaluated 133 financial centers.
The GFCI adopts a ‘factor assessment’ model in which two sets of ratings – one from survey respondents and one generated by a statistical model – are combined them into a single ranking.
A center is given a GFCI rating and ranking if it receives more than 150 assessments from people based in other centers in the online survey.
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