Page 2 - Gift-ifsc

Govt approval required for IFSC listings of cos from bordering nations

The rules lay out how companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT)

GSPC, IGX to set up global hydrogen trading mechanism at GIFT IFSC

The International Financial Services Centre (IFSC) at GIFT City in Gandhinagar on Tuesday announced a strategic collaboration with the Indian Gas Exchange (IGX) and state-owned Gujarat State Petroleum Corporation (GSPC) to set up a global hydrogen trading mechanism. "A key aspect of this collaboration is the subsequent launch of the Global Hydrogen Price Index, a benchmark that will play a pivotal role in price discovery and market information on the burgeoning green hydrogen market in India," the Gujarat International Finance Tec-City (GIFT City) said in a release. The mechanism is expected to enhance transparency, boost investor confidence, and facilitate the growth of the green hydrogen market on a global scale, it said. GSPC jointly with IGX will develop a mechanism to create an index for hydrogen and attract global institutions to trade in GIFT IFSC, the release said. GIFT City SEZ is a notified IFSC in India with banking, insurance, capital markets, asset management, and FinT

IFSC needs to ready platform where green credits can be traded: Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded. Speaking at a session 'An aspiration of modern India' at the GIFT City, the minister said companies in India will be able to access global funds soon with direct listing on IFSC exchanges. "The much awaited direct listing of stock in Gift IFSC was announced earlier. We are going through the process in a systematic manner and I'm confident that it will happen at the earliest. With that Indian companies should be able to access global funds easily being listed in India," she said. Last year the government had decided to allow listed and unlisted companies to directly list themselves on the IFSC (International Financial Services Centre) exchanges at GIFT City. Currently, Indian companies can access foreign equity markets only through issuing depository receipts or by listing their debt ...

Yotta's AI data centre in GIFT City to be commissioned before March: Nvidia

Global computing major Nvidia on Wednesday said its partner Yotta is set to commission an "artificial intelligence data centre" in the GIFT City here before end of March. Speaking at the biennial Vibrant Gujarat Global Summit, Shankar Trivedi, senior vice president at Nvidia Global Field Operations, said the American company is partnering with Tata Group and Reliance Industries for setting up data centres. The data centre being set up by Yotta, a Hiranandani Group company, will go live before March, he said. "I'm very happy to inform you that our partner Yotta is setting up a state of the art AI data centre here in GIFT city and it will be available and go live before the end of March," Trivedi said. The Ahmedabad-educated Trivedi said sovereign generative AI requires scalable data centres and added that generative AI will impact everybody in the future.

Committee recommends route to direct listing at IFSC GIFT city: Report

The group also suggested that Indian mutual funds may be permitted to participate in direct listings at the IFSC up to a limit of 1% of their assets under management

NRIs likely to get bigger play in local equities through GIFT City FPIs

At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent

India, UK explore possibility of shares listing at GIFT City and LSE

Under current regulations, Indian firms are not allowed to list directly on overseas exchanges. They can only list on foreign exchanges through instruments such as depository receipts

Exemption from angel tax and forex limits at GIFT: Regulatory panel

Allow to raise capital through SPACs and listing on offshore exchanges

Framework in works to make GIFT City global hub for accounting: Sitharaman

Union Finance Minister Nirmala Sitharaman on Saturday said a comprehensive legal framework will soon be in place to enable accounting, auditing and taxation professionals to provide services from GIFT City, turning it into a global hub for accounting and financial back-office functions. Chairing a review meeting on the growth and development of GIFT-IFSC at Gujarat International Finance Tec-City (GIFT City), Sitharaman also emphasised using the maximum potential of the Indian International Bullion Exchange IFSC (IIBX) -- launched here in 2022 -- in ensuring disintermediation and efficient price discovery. She asked the Reserve Bank of India to pilot the import of tariff rate quota (TRQ) gold under the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates through IIBX to pave the way for Indian banks efficiently using the IIBX platform, an official release stated. The Union minister exhorted both the International Financial Services Centres Authority (IFSC

Relief from double taxation on ODIs extended at the Gift City IFSC

Experts say move will make investments more lucrative

GIFT city expansion: 4 villages to be included, to become 3X present size

The city was first conceptualised by Prime Minister Narendra Modi as a global financial hub and India's "first operational smart city"

GIFT city expansion: 4 villages to be included, to become 3X present size

The city was first conceptualised by Prime Minister Narendra Modi as a global financial hub and India's "first operational smart city"

GIFT Nifty begins India journey, first day turnover tops $1 billion

The first session for GIFT Nifty contracts starts at 6:30 am India time and closes at 3:55 pm, closer to the operations of the domestic market

GIFT Nifty begins India journey, first day turnover tops $1 billion

The first session for GIFT Nifty contracts starts at 6:30 am India time and closes at 3:55 pm, closer to the operations of the domestic market

TMS Ep460: IndiGo aircrafts, free power, global markets, Gift Nifty index

What are the implications of IndiGo's 500 plane order? Is free power to households hurting industry? Is it time to diversify to global markets? What is Gift Nifty index? Answers here

Rupee trade volumes likely to get a fillip after RBI's IFSC ruling

So far now only residents outside India were allowed to be sold these contracts

SGX NSE Connect to become fully operational from July 3 at GIFT City

From July 3, all dollar-dominated Nifty derivatives contracts to be exclusively traded on NSE IFSC

IFSCA committee to explore ways to bring home Indian start-ups

The terms of reference for the committee include measures required to encourage the Indian fintech and startups domiciled abroad to relocate to GIFT IFSC

SVB crisis: $200 mn worth start-up deposits moved to GIFT City, says MoS IT

Says Indian financial sector should be preferred banking partner for start-ups

SVB collapse: Start-ups seek govt's help to bring money to India

Most of the stakeholders present in the meeting have been able to withdraw their deposits from SVB since Monday morning