Chandigarh, Aug. 17 -- City Beautiful will be developed as a National Service Industry Centre on the lines of Gujarat's GIFT city, UT administrator Gulab Chand Kataria said in his Independence Day speech on Friday.

GIFT City, short for Gujarat International Finance Tec-City, is a smart city, part of India's vision to attract fintech companies and global trading institutions, and compete with international financial hubs such as Dubai, Singapore, and London.

In Chandigarh, the plan is to turn it into a model of sound economic regulations, efficient governance, and modern infrastructure.

Kataria further said that the recent demolition drives against illegal colonies and markets had freed 55 acres, worth nearly Rs.2,500 crore, which will ...