Wednesday, March 29, 2017

5 April 2017: Regulatory framework for IFSC in India: The experience of GIFT IFSC

Dipesh Shah
Gujarat International Finance Tec-City Co. Ltd. (GIFT)

International Financial Services Centre (IFSC) is considered as a game changer for providing International Financial Services from Global Financial Centre in India. In the absence of IFSC in India, it is estimated that India is losing around US $ 50 billion per year (2015) which will grow to US $ 120 billion by 2025.

Govt. of India announced regulatory frame work for IFSC in India on April 10, 2015. In a short span of two years, GIFT International Financial Services Centre has attracted International Financial Services with 9 Banks, 4 Insurance Companies, 2 leading Exchanges and around 100 broking entities. The banking vertical have already completed around USD 2 billion transactions from GIFT IFSC. International Exchange for the first time in the country started trading of foreign stock futures covering Google, Facebook, Apple, Microsoft and JP Morgan. The experience of GIFT IFSC in this regard is useful learning for the development of International Financial Services Centre in India.

Date: April 5, 2017
Time: 04:30 P.M.

Conference Hall, Ground Floor
R&T Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)


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