India’s financial services ambitions not a ‘threat to the BVI’- Premier Wheatley
Speaking at a press conference at Cutlass Tower on Friday, September 18, 2026, Premier Wheatley said this was particularly evident in the delegation’s discussions around GIFT City, “where we explored how the BVI’s deep experience in helping structure cross-border finance can complement India’s own International Financial Services Centre.”
India’s financial services ambitions
GIFT City, short for Gujarat International Finance Tec-City, is India’s first operational International Financial Services Centre (IFSC), designed to attract global businesses, financial institutions, and fintech companies.
Premier Wheatley said he believes GIFT City is one of the areas in which the potential for long-term cooperation is particularly clear.
“GIFT City represents India’s ambition to build a world-class international financial-services centre ofits own.
‘Not a threat’- Premier Wheatley
“We do not see that ambition as a threat to the BVI. We see an opportunity to work alongside it,” Dr Wheatley stated.
The Premier reasoned that the VI’s experience in international corporate structures, investment funds, private wealth and cross-border finance can complement what India is building at GIFT City as it continues to modernise its financial system and attract greater international investment.
“Importantly, our discussions throughout the mission highlighted the role that BVI fund structures can play in facilitating foreign direct investment into India, helping connect international capital with opportunities across the Indian economy.”
Premier Wheatley said the Virgin Islands has always prospered when it works in collaboration with other financial centres, “and we believe there is now significant scope to deploy that same approach in India.”
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