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Indians may soon be able to tap LRS route for MF, AIF play in Gujarat IFSC

A 7-member committee recommended a host of measures for enhancing retail participation in the IFSC

International Financial Services Centre, IFSC,  dividend distribution tax ,DDT,tax issues, PwC India, IFSC investors,Union Budget
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One of the key recommendations is to allow resident individuals to invest in AIFs or MFs in the IFSC via the Liberalised Remittance Scheme (LRS) route. Illustration by Ajay Mohanty

Ashley Coutinho Mumbai
Resident individuals may soon be able to invest in listed securities on exchanges set up at Gujarat’s International Financial Services Centre (IFSC), if the recommendations of an IFSCA-appointed committee are accepted.

The securities include global depository receipts (GDRs), alternative investment funds (AIFs), mutual funds (MFs), and real estate investment trusts (REITs) and infrastructure investment trusts (InVITs), which are issued by foreign entities.

On Wednesday, the seven-member committee, set up three months ago, recommended a host of measures for enhancing retail participation at the IFSC.

Among the key recommendations was allowing resident individuals to invest in AIFs or MFs at the IFSC, via the

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First Published: Nov 12 2020 | 5:58 PM IST

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