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Trading and investing platform Dhan on Friday launched investment access to US-listed stocks and exchange-traded funds (ETFs) for Indian investors through the GIFT City framework. The offering is being provided through Raise IFSC Private Limited, Dhan's wholly-owned subsidiary and a member of India INX operating under the regulatory framework of the International Financial Services Centres Authority (IFSCA). In a statement, the company said Indian investors can now invest in stocks listed on the Nasdaq and NYSE through the Dhan app under a structure aligned with RBI and FEMA requirements. Dhan has partnered with ViewTrade for brokerage services and GlomoPay for payment technology services to facilitate investments in US securities. The platform will not charge account maintenance or custody fees, while brokerage has been fixed at 0.25 per cent of the transaction value. Investors will also have access to features, such as systematic investment plans (SIPs) in US stocks and ETFs, su
Union Finance Minister Nirmala Sitharaman said here on Friday that India offers a unique combination of scale, technology, talent and growth opportunities through GIFT City in Gujarat. She chaired a high-level review meeting on GIFT City (Gujarat International Finance Tec-City) and its evolving international financial services ecosystem. GIFT City is India's first operational smart city and International Financial Services Centre (IFSC) located in Gujarat capital Gandhinagar. In her address after the review meeting, Sitharaman said the progress achieved here so far is encouraging, and continued coordination among stakeholders will further strengthen its role in India's growth journey towards Viksit Bharat @2047. Sitharaman highlighted GIFT City's strategic importance in deepening India's integration with global financial markets and facilitating international capital flows into the country supported by globally benchmarked institutional frameworks, regulatory agility and supportive
Akasa Air has set up an entity at the GIFT City in Gujarat to strengthen its aircraft financing and leasing activities. The nearly four-year-old carrier has established Akasa Air Leasing IFSC Private Limited (AALI) at Gujarat International Finance Tec-City (GIFT City), Gandhinagar. In a release on Friday, the airline said AALI office would play a pivotal role in advancing its aircraft financing strategy, enabling greater flexibility, cost efficiency, and enhanced access to global capital markets. "AALI is expected to finance a majority of the airline's aircraft over time while strengthening onshore leasing capabilities," the release said. Currently, Akasa Air has a fleet of 38 Boeing 737 MAX airplanes. It has placed an order for 226 such aircraft. Air India and IndiGo also have their aircraft leasing entities in the GIFT City.