India's GIFT City financial hub has attracted a number of international wealth management, banking and investment firms in recent years.

Natixis Corporate & Investment Banking said yesterday that it has opened a branch in Gujarat International Finance Tec-City (GIFT City) in India.

The group is moving into a jurisdiction specially created to attract business into this part of India. For example, in January last year, HSBC opened a new office there. Eton Solutions, the US-headquartered group working on technology solutions for family offices, has a branch in GIFT City; Japan’s Sumitomo Mitsui Banking Corporation (SMBC) also operates there, to give another example.

The GIFT City branch of Natixis CIB will enable it to drive growth, broaden international diversification, and enhance client servicing capabilities in India, the financial services group said. The branch will be led by Pranav Vyas, head of Natixis IFSC Banking Unit (IBU), GIFT City. Vyas, who has more than 23 years of banking experience, reports to Sanjeev Kumar, senior country manager, Singapore, and head of Southeast and South Asia, Natixis CIB.

Natixis CIB’s branch in GIFT City offers foreign currency-denominated structured products and finance, spanning energy and commodities, infrastructure, aviation, and export financing which includes External Commercial Borrowings. It caters to corporate and institutional clients.