GIFT City draws big players with biz sops; banks, PEs register with IFSCA

Twenty foreign and Indian banks are now part of the IFSC ecosystem

The funds ecosystem in India’s maiden International Financial Services Centre (IFSC) in GIFT City is gaining significant momentum with more than 20 Alternative Investment Funds (AIFs) now registered with the IFSCA, the unified regulator for IFSCs in India.

These feature leading names in the venture funds, private equity and hedge funds ecosystem and include commitments to raising $4.6 billion from global investors, according to people in the know.

Additionally, 25 fund managers, 6-7 portfolio management services and 4-5 investment advisors have registered with the IFSCA. Another 25-30 players are in the advanced stages of applying to it for fund services.

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