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    Question

    Consider the following statements with reference to GIFT City:

    1)    GIFT City is a Special Economic Zone (SEZ) located in the state of Gujarat, India.

    2)    GIFT City is India's first International Financial Services Centre (IFSC).

    3)    It was established in 2019.

    Select the correct answer using the code given below:

    A 1 and 2 only Correct Answer Incorrect Answer
    B 1 and 3 only Correct Answer Incorrect Answer
    C 2 and 3 only Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer
    E 3 only Correct Answer Incorrect Answer

    Solution

    Statement 1 is correct. GIFT City is a Special Economic Zone (SEZ) located in the state of Gujarat, India. The city is spread across 886 acres and is being developed as a global financial hub. Statement 2 is also correct. GIFT City is India's first International Financial Services Centre (IFSC), which was established in 2015. It is designed to cater to India's large financial services industry, as well as international investors who wish to do business in India.

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