The only place to setup a financial centre is Mumbai: CM Devendra Fadnavis

Chief Minister Devendra Fadnavis asserted that Mumbai can be the only place to set up an International Financial Service Centre


Chief Minister Devendra Fadnavis on Friday said that the International Financial Service Centre (IFSC) can only be set up in Mumbai as it is the financial capital and centre of India.

Congress’ Sanjay Dutt pointed out in the assembly regarding Union Finance Minister Arun Jaitley’s decision to rule out Mumbai as the destination for setting up IFSC. Arun Jaitley had said that until the IFSC in Gujarat is fully utilised, there will not be a second IFSC in India, Dutt informed the house.

To this, CM Fadnavis replied that Mumbai — being the natural financial capital of India — can be the only place to set up IFSC. He further added that Arun Jaitley has assured that the financial centre will be in Mumbai.

CM informed that there is 50 hectares’ less land in Bandra-Kurla Complex required to set up the financial centre. However, that cannot be a reason for not setting up the same in Mumbai. The CM asserted that Mumbai is the only place for setting up the IFSC.  

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