India considers Singapore's VCC model to get funds for GIFT City IFSC

Island nation has established more than 200 VCCs established since January 2020 using the model.

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The Singapore structure allows investment funds for traditional and alternative strategies | Illustration: Binay Sinha

Ashley Coutinho Mumbai
India is likely to adopt Singapore's Variable Capital Company model for investment funds at the International Financial Services Centre (IFSC) in Gujarat's GIFT City --- with a separate legislation that is not part of the Companies Act, 2013, for the same. 

An IFSC appointed-committee headed by Dr KP Krishnan submitted a report on the feasibility of a VCC structure at IFSC on Tuesday after evaluating structures in jurisdictions such as the UK, Singapore, Ireland and Luxembourg.

"We will have to Indianise some of the features but many of the committee's suggestions have come from Singapore's VCC regime. The committee has

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First Published: Jun 04 2021 | 7:11 AM IST

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