Ahmedabad: The next phase of GIFT City’s growth is likely to unfold around dining tables as much as in boardrooms. Around 25 premium food, beverage and recreational brands are planning their entry here after the state govt eased the tax burden on foreign liquor served within the special zone, according to sources familiar with the development.The move has renewed interest among national food and beverage brands, several of which had earlier been assessing the viability of setting up at GIFT City. Industry and govt officials said the new outlets are expected to strengthen the city’s social infrastructure as more multinational financial institutions, global capability centres (GCCs) and international professionals move in.Sources said deputy chief minister Harsh Sanghavi had met industry leaders and held discussions with restaurant brands to encourage them to establish outlets at GIFT City.National Restaurant Association of India recently organised a meeting at GIFT City. The association has also sent a letter of intent to Sanghavi, listing 21 national and 24 Gujarat-based restaurant brands planning to establish a presence in the zone. Some of these brands are considering wine-and-dine facilities, according to sources.At present, GIFT City has two wine-and-dine facilities, according to sources. One large restaurant is also expected to begin operations soon.“Recently, around 500 national restaurant owners visited GIFT City and interacted with the state govt about the opportunities. Now, around 25 brands are in the final stage of deciding on a GIFT City presence, and they will move forward soon,” a senior state govt official said.In June, the state govt reduced VAT on foreign liquor served at GIFT City from 65% to 25%. It also removed a special fee of around Rs 240 levied on every 30ml serving, officials said.The changes are expected to make pricing more viable for premium outlets and help larger restaurants and hospitality concepts operate sustainably in the zone.The number of such establishments could rise rapidly as more commercial and residential buildings become operational. Sources said at least 20 new buildings are expected to be ready by 2030, with each planned to include a wine-and-dine facility. A separate estimate by developers suggests that an average of five commercial and residential buildings could open every year until 2030, creating a steady rise in footfalls and demand for lifestyle services.Developers said the tax changes could also support Gujarat’s ambitions to host major international sporting events.“The move is expected to attract GCCs, technology and finance companies, as well as food and beverage brands, while supporting plans for the Commonwealth Games 2030 and possibly the 2036 Olympics. We have already tied up with one national restaurant brand for a wine-and-dine facility at our building and are in discussions with four more,” said Aaryan Shah, associate director, Savvy Group.Shah said a sports-themed wine-and-dine concept was also being developed, while a Japanese cuisine brand was exploring the possibility of setting up at GIFT City.
