About IFSC

• • An International Financial Services Centre (IFSC) is a jurisdiction that provides world class financial services to non-residents and residents in a currency other than the domestic currency (Indian Rupee) of the location where the IFSC is located. 

• Services provided by an IFSC:

• • Fund-raising services for individuals, corporations and governments
  • Asset management and global portfolio diversification undertaken by pension funds, insurance companies and mutual funds
  • Wealth management
  • Merger and acquisition activities among trans-national corporations, etc.
• The International Financial Services Centres Authority (IFSCA) was established in 2020 as a unified authority for the development and regulations of IFSCs in India.

GIFT City

• India’s 1st IFSC has been set up at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. 
• Operationalized in 2015, it is intended to provide Indian corporates with easier access to global financial markets, and to complement and promote the further development of financial markets in India.
• It seeks to bring back the financial services and transactions that are currently carried out in offshore financial centers to India by offering a business and regulatory environment that is comparable to other leading international financial centers in the world.