New Delhi, May 1 -- GANDHINAGAR: Six listed companies have applied for licences to set up corporate treasury centres in Gujarat International Finance Tec-City, or GIFT City, said Kalyanaraman Rajaraman, chairperson of the International Financial Services Centres Authority (IFSCA).

The applications signal rising interest in India's offshore financial hub as large companies look to centralize global cash and risk management. While the regulator declined to identify the applicants, Rajaraman said demand is likely to rise over time.

"We have issued 10 authorizations till date. we are talking to almost every MNC (multinational company). By the end of this year, we will have at least double, if not triple, of that number," Rajaraman told Mint...