 "India INX clocks highest-ever turnover of Rs 44.8 billion")
India INX, a subsidiary of BSE, operating out of Gift City, clocked its highest-ever turnover of Rs 44.8 billion ($665 million) on May 31. The exchange started trading in January 2017. In the past few months, India INX has logged daily volumes in excess of $ 500 million.
Trading at Gift City is witnessing gradual pick up, following easing of regulations. Gift City is an international financial services centre designed on the lines of global financial hubs in Hong Kong, Singapore and Dubai. Compared to onshore trading, Gift City offers an advantageous tax structure and regulatory framework.
The benefits include no security transaction tax, commodity transaction tax, dividend distribution tax, long-term capital gain tax and income tax.
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