The Gujarat government on Monday appointed Kerala-cadre IAS officer Sanjay Kaul as the new Managing Director and Chief Executive Officer (CEO) of Gujarat International Finance Tec-City Company Ltd (GIFT City Co. Ltd), a state-government owned entity that has been spearheading infrastructure development for this finance hub in Gujarat.
A 2001-batch IAS officer, Kaul will take over from Tapan Ray —- a retired IAS officer from the Gujarat cadre who has been at the helm since 2019 —- for a period of three years, stated a notification from General Administration Department of Gujarat Government on Monday. Kaul is currently a joint secretary in the Union Ministry of Culture, a post he has held since September 2024. Earlier he functioned as the Chief Electoral Officer of Kerala from 2021-24.
A domicile of Gujarat, Sanjay Kaul holds a BE degree in Electronics and Communication from South Gujarat University at Surat. He also has a certificate in Public Administration from University of Syracuse, USA. Kaul has also held several senior positions in the finance, ports, energy and industries departments, Government of Kerala. During an inter-cadre deputation between 2011-16, Kaul worked in Gujarat as the Managing Director of Gujarat Informatics Ltd and Tourism Corporation of Gujarat Ltd.(TCGL). In 2019, the IAS officer has also been on foreign training in New York, USA.
It was during Tapan Ray’s tenure that the GIFT City Company Ltd became a 100 percent Gujarat government entity after IL&FS sold its 50 percent stake in the company. Currently, Gujarat Urban Development Company Ltd (GUDCL), Gujarat Industrial Development Corporation (GIDC) and Gujarat Maritime Board (GMB) hold stakes in GIFT City Company Ltd. Meanwhile Ray has been facing health-related issues since the last several months.
Published on July 14, 2025
