Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat’s GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. IFSC has the potential to become an investment gateway for India as apart from providing a global financial platform, it also provides an easy access to the fast-growing Indian economy to global investors.
The establishment of IFSC Authority (IFSCA) in April 2020 has also come at a very opportune time when global investors are consciously moving out of certain jurisdictions and are actively looking for other investment destinations. Financial markets globally are looking for Indian avenues to invest in. Therefore, creation of a vibrant financial services ecosystem to attract foreign investment is essential.
The recent changes in tax regulations such as waiver of several taxes like GST, dividend distribution tax and capital gains tax for…