The International Financial Services Centres Authority (IFSCA) has formed a committee to design a road-map to attract Indian start-ups to set up base in GIFT City and not have their domicile in other nations.
The committee will be headed by former RBI Executive Director G Padmanabhan and tasked with better understanding the nuances from regulatory, tax, legal, and other perspectives, and identifying measures required to make GIFT City the preferred location for start-ups.
“Indian start-ups raised $44 billion in 2021... Many Indian start-ups are domiciled outside India, despite having the majority of their market, personnel, and founders here. These ‘externalised’