After Adani’s and Air India’s aircraft leasing unit at IFSC GIFT City, Reliance Industries Limited (RIL) has braced itself to pave their way into GIFT City by launching the smart city’s first conglomerate ship leasing firm. For this strategic move, RIL is estimated to incur a total investment and expense of ₹22,033 crores.

RIL has proposed their offer, subject to the SEZ committee's approval.

The need for the leasing unit has been mentioned for approvals to set up a ship leasing firm that borne business of operating leases of ships, vyoages chaters, and vessels.

The establishment of the ship leasing firm at the GIFT City has been handled by the CEO and President of Jio Financial Services, Hitesh Kumar Sethia, the SVP and Head Gases at the conglomerate, Amit Mehta, who has also been with RIL from the past 2 decades; and the AGM in RIL, Jayesh Biharilal Dholakia.

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