Tapan Ray, former Corporate Affairs Secretary, has been appointed as the Managing Director of Gujarat International Finance Tec-City (GIFT City). It is India’s first  international financial services center and operational Smart City.

An IAS officer of 1982-Batch, Ray has over 30 years of experience in administrative as well as corporate roles. He was the Principal Secretary, Finance Department, Government of Gujarat. Apart from that, Ray has held several key positions in the Ministries of Defence, Textiles, Power, Science &Technology, and Planning in the Government of India.

In over 12 years of corporate experience, he has served as the Managing Director of the Gujarat State Petroleum Corporation group of Companies for about five years. He is also a board member of Securities and Exchange Board of India (SEBI).

An alumnus of IIT Delhi, and a Master of Public Administration from Maxwell School, Syracuse University, USA, Ray would be responsible for overseeing the strategic growth of GIFT City.

GIFT City has been functioning for over four years and houses more than 200 IT, IteS and BFSI companies with approximately 9,000 employees are operational here.  As per reports, GIFT IFSC is operational with approximately 12 leading Indian banks clocking foreign currency business transactions worth USD 18 billion.

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