GIFT City is fast emerging as the default route for Indian companies borrowing capital from abroad, a trend that regulators expect will deepen in the coming years. In an interview to Moneycontrol, R Rajaraman, chairperson of the International Financial Services Centres Authority (IFSCA), the regulator for GIFT City, said the share of India's offshore borrowings routed through the Gujarat-based financial hub could eventually cross 90 percent, up from nearly two-thirds currently.