Chandigarh MP and former union minister Manish Tewari has proposed the establishment of an International Financial Centre (IFC) in Chandigarh, inspired by Gujarat’s GIFT City, regarding which he has written a letter to the Union Finance Minister Nirmala Sitharaman.
In a letter to Sitharaman, Tewari argued that the project would strengthen the region's economy and enhance the country's status as a global financial hub.
Tewari underscored Chandigarh's strategic location as a key factor in making it an ideal choice for the IFC. As the shared capital of Punjab and Haryana, the city is situated at the heart of northern India’s economic network, with proximity to Himachal Pradesh connectivity via road, rail, and air, including an international airport, makes it well-equipped for global financial operations, Tewari then points out in the letter.
In addition to its geographic advantages, Tewari noted Chandigarh's outstanding infrastructure, which combines modernity with urban planning. He emphasised that the city offers superior quality of life, making it an attractive destination for both businesses and professionals. The Union Territory’s high standard of living, organised layout, and heritage further enhance its appeal.
Tewari also referenced Chandigarh’s thriving educational ecosystem, citing institutions such as Panjab University, PGIMER, Punjab Engineering College, and the Government Medical College, which ensure a steady supply of skilled professionals.
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