GIFT IFSC

"Government had been doing a lot on the tax regime. They have now focused more on ease of doing business and opening up some businesses and stopping you from exporting your capital market"

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

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

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

With an aim to boost business activities in the international financial hub GIFT IFSC, the government in the Budget paved the way for IFSC units to issue participatory notes or offshore derivative instruments to foreign investors. Participatory notes (P-notes) are issued by registered foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. Till December 2022, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- was at Rs 96,292 crore, data with the Securities and Exchange Board of India (Sebi) showed. Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday recognised "offshore derivative instruments (ODIs) as valid contracts" in order to enhance business activities in the Gujarat International Finance Tec-City (GIFT City). In line with the Budget's announcement, it is likely that ...

Tax reliefs are expected to leave more money in the consumers' hands. While the aim is to boost consumption, the extent of the impact remains to be seen

To enhance business activities in GIFT IFSC, Finance Minister Nirmala Sitharaman on Wednesday announced a host of measures, including establishing a subsidiary of EXIM Bank for trade re-financing and allowing acquisition financing by IFSC Banking Units of foreign banks. Besides, she proposed an amendment to International Financial Services Centres Authority (IFSCA) Act for statutory provisions for arbitration, ancillary services, and avoiding dual regulation under the Special Economic Zone (SEZ) Act. The Budget also announced delegating powers under the SEZ Act to IFSCA to avoid dual regulation and setting up a single window IT system for registration and approval from IFSCA, SEZ authorities, GST Network, RBI, SEBI and IRDAI. The Budget 2023-24 proposes an extension of tax benefits to funds relocating to IFSC, GIFT City till March 31, 2025. "For countries looking for digital continuity solutions, we will facilitate setting up of their Data Embassies in GIFT IFSC," she said during .

NSE IFSC-SGX Connect is a collaboration between the NSE and the Singapore Exchange (SGX) to bring global investors to India

NSE IFSC-SGX Connect is a collaboration between the NSE and the Singapore Exchange (SGX) to bring global investors to India

Modi launches India's first international bullion exchange in Gujarat

Live news updates: A bench comprising Justices D Y Chandrachud, Surya Kant, and Vikram Nath said there was no merit in the review petition

London Business School, King's College, Cambridge University and New York University exploring the option

Reliance Industries Ltd has listed its existing foreign currency bonds aggregating over $7 billion on the India INX, in the largest such listing by a private entity on India INX and GIFT IFSC

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

Securities worth SGD 400 million and $1.4 billion, issued in 2012, 2013 and 2019 respectively are now listed," a statement from IFSC said.

Indian Oil listed has listed its foreign currency bonds on IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT). "We are extremely delighted to be here on the momentous occasion of the listing ceremony of USD 1.4 billion and SGD 400 million on NSE IFSC and India INX exchanges," Indian Oil Director- Finance Sandeep Kumar Gupta was quoted as saying in a statement issued by NSE IFSC on Thursday. According to him, the advent of IFSC at Gift City has provided an opportunity for Indian companies to access offshore funds within India. These bonds were listed on the global securities market platform of India International Exchange (India INX) and debt securities market platform of NSE International Exchange (NSE IFSC). These platforms were launched for listing and trading of debt securities in multiple foreign currency bonds, green bonds, masala bonds, notes, among others. The platforms provide an efficient international listing process

Touted as India's offshore alternative to Singapore and Hong Kong, the IFSC, located in GIFT City, which is about a tenth of the size of Vatican City, offers many incentives to Indian businesses

HDFC Bank on Thursday listed its USD 1 billion additional tier- I (AT-1) bonds on the IFSC (International Financial Services Centre) exchanges at Gujarat International Finance Tec-City (GIFT)

Deutsche Bank will set up its IFSC banking unit at India's first global financial centre in Gujarat. The bank has received approval from the GIFT SEZ Authority to set up an IFSC banking unit at India's first International Financial Services Centre (IFSC) at GIFT City, Gujarat, a release said on Thursday. The leading German bank with strong European roots has a global network across 59 countries. This will serve as a primer for renowned banks from other geographies to consider GIFT City a viable destination for international financial services, said Tapan Ray, MD & Group CEO, GIFT City. "Progressive banking regulations in GIFT IFSC provide new business opportunities in several areas for foreign banks such as FPI Business, Non-Deliverable Forwards (NDF), Aircraft leasing- financing, and upcoming framework to enable international bullion exchange operations from GIFT IFSC," he said. Deutsche Bank is among the largest international banks in India. It had set up its first branch in th

Also allows such funds to invest in units of domestic MFs as well as those of other FATF-compliant jurisdictions