Page 5 - Gift Ifsc
Irdai permits insurance firms to begin offshore business from GIFT IFSC
For export of services, insurance companies operating from IFSC are exempted from GST
 "Irdai permits insurance firms to begin offshore business from GIFT IFSC")
GIFT IFSC business grows by 400% in 6 months: MoS Finance Meghwal
Visiting the Gujarat International Finance Tec-City (GIFT City), Union Minister of State in Finance and Corporate Affairs, Government of India, and Chairman of the International Financial Services Centre (IFSC) Task Force, Arjun Ram Meghwal said that the project had seen business transactions rise by 400 per cent in six months. Meghwal had visited GIFT City to interact with the IFSC units and to understand the regulatory and business progress from the entities operating at GIFT IFSC. The IFSC transactions at GIFT City covering banking, insurance, and capital market services have increased 400 per cent from US $ 1 billion to US $ 4 billion in last six months. While IFSC units (IBUs) of the Banks have done business worth US $ 3 billion, insurance companies have clocked in USD $ 1 billion worth transactions. Bombay Stock Exchange's (BSE) International stock exchange within GIFT IFSC has seen single day trading of around $100 million. In addition, 13 new units have recently received ...
 "GIFT IFSC business grows by 400% in 6 months: MoS Finance Meghwal")
Biz GIFT-IFSC crosses $2 bn; to create 1 mn jobs by 2025
BSE is already in operation and is generating an average turnover of $2 million