GIFT CITY

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GIFT CITY

In April 2015, the Government of India took the initiative to develop an IFSC at Gujarat International Finance Tec-City (GIFT City), a special economic zone (SEZ), to help India realize its potential in the international financial services industry. GIFT City IFSC provides a strategic location to develop an efficient platform for all inbound and outbound foreign currency transactions. It is a global financial and technology hub that offers single-window clearances and approvals under one umbrella. It provides a plug-and-play infrastructure for businesses seeking unparalleled accelerated growth.

Key Takeaways

  • India’s maiden IFSC
  • Single unified regulator for IFSC 
  • Gift city promises to offer a wide range of services like capital market transactions , banking services ,offshore asset management and other financial transactions. 
  • Goal is to create welcoming place where India centric trade can come back .
  • All dealings in dollar denomination only.
  • Free trade zone with various tax incentives enabling flow of finance , financial products and services across borders.

GIFT CITY

  • Financial Services center
  • Indian investors can invest outside India
  • Good for NRI investors