Will GIFT city have a bar?

🙂 A question which did not strike me at all. Considering Gujarat is a alcohol free state (atleast on paper) and GIFT city aspires to be an international finance centre where chilling in the evenings/weekends is a norm, will the laws be changed/twisted for GIFT?

This BS edit raises this not so trivial q along with several others:

In the end, those backing the idea of GIFT need to ask themselves what they truly want. Do they want it to be, essentially, a little offshore tax haven within the borders of the Union of India? For that is what GIFT seems to be promising – with all the possibilities for arbitrage and tax advantages that the idea implies. And the truth is that even if an offshore tax haven is what the makers of GIFT may wish to create, their ambitions are likely to face many challenges, and GIFT could wind up being a little more than another back office instead of a genuine international centre. The “new” financial centres, such as Dubai or Singapore, have self-consciously set out to be welcoming in terms of lifestyle and social infrastructure to people from all over the world, regardless of the local restrictions of Arab or overseas Chinese culture. Will GIFT have bars? Will it have genuine connections to the broader economy, socially and financially? Without that, it will just be a location for regulatory and tax arbitrage.

I have been looking at the literature on IFCs and hopefully might have something to say on the matter on subsequent posts..

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