GIFT-IFSC

Dipesh Shah, executive director at IFSCA, confirmed that the regulator had issued a license to JPMorgan Securities earlier this month

Financial Services Secretary M Nagaraju on Monday highlighted the role of IFSCA in advancing India's aspiration to becoming a global reinsurance hub and encouraged Indian insurers and reinsurers to tap global opportunities through GIFT City. India stands at the cusp of transformative growth in its reinsurance sector, Nagaraju said speaking at the IFSCIRDAIGIFT City Global Reinsurance Summit in Mumbai, according to a finance ministry statement. Insurance and reinsurance were emphasised as crucial in driving India towards its economic objectives, particularly as the country strengthens its role in the global economy, he said. As per a Swiss Re report, India remained the 10th largest insurance market globally by nominal premium volumes in 2024, with a market share of 1.8 per cent. Insurance penetration stood at 3.7 per cent, with life insurance at 2.7 per cent and non-life at 1 per cent, while insurance density increased marginally to USD 97, indicating significant untapped market ...

Tax experts say GIFT IFSC-based specified funds may offer a more certain and tax-efficient route amid increased scrutiny of treaty-based capital gains exemptions

IFSCA has proposed regulatory changes to notify commodity trading as a financial product and deepen participation at GIFT-IFSC to position it as a global commodities hub

The approval enables IA Fintech, a subsidiary of IAL, to provide a wide range of digital payment and cross-border financial services for enterprises within GIFT-IFSC and international markets

The new real-time foreign currency settlement system situates GIFT City among global financial centres like Hong Kong and Tokyo, with a promise of faster transactions and better liquidity

The finance ministry stated that the reason for this strategy is that the mainland activities are not affected by the offshore activities

San Diego varsity cites regulatory and cost barriers for pausing its GIFT City campus and will now expand in India through hybrid degrees, MoUs and online Master's programmes

The minister who was in GIFT City, Gandhinagar for a high-level review of the IFSC's progress, emphasised the need to make it competitive

Mirae and Tata among fund houses set to offer retail schemes from Gift-IFSC as clarity on regulation and tax drives investor interest in overseas diversification

Industry body requests removal of 25 per cent limit for IFSC-based retail funds' investment in unlisted assets

The Reserve Bank has significantly enhanced the attractiveness and utility of GIFT IFSC by clarifying the use of LRS for investments and enabling transactions like insurance and education loan payments in foreign currency, said GIFT City MD and group CEO Tapan Ray on Thursday. GIFT city (Gujarat International Finance Tec-City) located in Gandhinagar has been envisaged as an integrated hub for financial and technology services not just for India but for the world. India's maiden International Financial Services Centre (IFSC) has been set up in GIFT City. The Reserve Bank of India (RBI) on Wednesday issued a circular expanding the scope of norms related to remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS). RBI said it has been decided that "authorised persons" may facilitate remittances for all permissible purposes under LRS to IFSCs for availing financial services or financial products as per the International Financial ...

Latest changes, announced by RBI in a circular late allow Indian investors to use GIFT City as a route for more overseas spending and investments

The service which will cut down on times and delays, and it would be available for financial firms in Gujarat International Finance Tec-City

Framework for listing of domestically listed stocks also expected soon, says Ifsca chairperson

Financial Planning Standards Board India on Monday announced that it has signed a pact with the International Financial Services Centres Authority (IFSCA), GIFT City, Gandhinagar, to promote GIFT IFSC as a 'Global Finance Hub'. FPSB India and IFSCA aim to enhance the financial market ecosystem and nurture skilled professionals for GIFT City's expanding financial workforce, the company said in a statement. Both organisations will jointly organise international and domestic events to raise awareness and establish GIFT IFSC as a 'Global Finance Hub', the statement added. Some key highlights of the Memorandum of Understanding (MoU) include talent pipeline support, ecosystem development, promotional activities and research collaboration. FPSB India is the leading financial planning body in India and is dedicated to establishing, upholding, and promoting professional standards in financial planning across the country.

The Reserve Bank on Friday announced that it will allow investment and trading of Sovereign Green Bonds (SGrBs) at the International Financial Services Centre (IFSC), Gandhinagar. Based on an announcement in the Union Budget for 2022-23, the government issued Sovereign Green Bonds (SGrBs) in January 2023. Subsequently, SGrBs were issued as part of the government borrowing calendar in 2023-24. At present, foreign portfolio investors (FPIs) registered with SEBI are permitted to invest in SGrBs under the different routes available for investment by FPIs in government securities. "With a view to facilitating wider non-resident participation in SGrBs, it has been decided to permit eligible foreign investors in the International Financial Services Centre (IFSC) to also invest in such bonds," RBI Governor Shaktikanta Das said, while announcing the first bi-monthly policy for FY'25. A scheme for investment and trading in SGrBs by eligible foreign investors in IFSC is being notified separat

Could today's Budget be not-so-interim? How will direct listing on GIFT City exchanges benefit India Inc? What all can disappoint markets in the interim Budget? What is an interim Budget? Answers here

Issuers will wait for ecosystem to develop further before firming up listing plans

The move will enable startups and other domestic companies to access the global market and raise capital in foreign currency through GIFT IFSC