Tag: GIFTCity

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Corporate

NSE IX offers US stocks via GIFT City

The NSE International Exchange (NSE IX) has launched a new platform at GIFT City, Gujarat, allowing Indian investors to buy U.S. stocks and ETFs directly. Now, investors can access major companies like Apple, Microsoft, and Tesla without opening an overseas brokerage account.

The service, called Global Access, operates under the RBI’s Liberalised Remittance Scheme (LRS), which permits individuals to invest up to $250,000 per year in foreign markets. The sign-up process is fully digital, requiring Aadhaar, PAN, and DigiLocker verification, enabling users to start trading in minutes.

Currently, the platform offers U.S. equities, but NSE IX plans to expand to over 30 international markets within the next few months. Investors can also purchase fractional shares, making it easier to invest in high-priced stocks.

The platform has seen strong early interest, with about 2,000 users enrolling during the soft launch. Funds are remitted in Indian rupees and converted to dollars for overseas transactions, and trading includes equities, ETFs, and debt instruments, though derivatives are not yet available.

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Leaders

Uday Kotak takes charge as Chairman of GIFT City

The Gujarat government has appointed Uday Suresh Kotak as the new Chairman of Gujarat International Finance Tec-City Company Limited, commonly known as GIFT City. The appointment takes immediate effect, according to a government resolution issued on February 13, 2026.

Kotak succeeds Hasmukh Adhia, who had been serving as the Non-Executive Chairman of GIFT City since June 2023. The state government’s move to bring in one of India’s most respected banking leaders is seen as an effort to further strengthen the city’s position as an international financial centre.

Uday Kotak is the founder of Kotak Mahindra Bank, one of India’s leading private sector banks. Over nearly four decades, he built the institution into a diversified financial services group covering banking, insurance, asset management, investment banking and stockbroking. He stepped down as Managing Director and CEO in 2023 and currently serves in a non-executive role at the bank.

GIFT City, located in Gandhinagar, Gujarat, is India’s first operational International Financial Services Centre (IFSC). It was developed to compete with global financial hubs such as Singapore and Dubai by offering tax incentives, regulatory benefits and world-class infrastructure to international businesses. The centre hosts banks, insurance firms, capital market entities and fintech companies operating in foreign currencies.

Recently, the central government extended tax benefits for businesses operating in GIFT City, further boosting its attractiveness for global investors. With over a thousand registered companies and growing international participation, the financial hub is a key part of India’s strategy to expand its presence in global financial markets.

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Corporate

India extends GIFT City tax holiday to 20 years

In the Union Budget 2026‑27, the Indian government announced a major extension of tax benefits for businesses operating in the Gujarat International Finance Tec‑City (GIFT City) International Financial Services Centre (IFSC). The tax holiday, which previously lasted 10 years, will now be extended to 20 years to make the financial hub more appealing to both domestic and international firms.

Under this new rule, new companies in the GIFT City IFSC will get a 100% tax exemption on their income for 20 years out of a 25-year period. After this period, these companies will pay a reduced tax rate of 15%, which is much lower than the normal corporate tax rates in India, which range from 25% to 38%.

This change is especially important for banks and financial firms whose initial 10-year tax breaks were about to end. Big banks, including the State Bank of India and Bank of Baroda, had asked for clarity on future tax rules. Extending the tax holiday gives companies long-term certainty, encouraging them to continue and expand operations in GIFT City.

Industry leaders welcomed the move, saying it will strengthen India’s position as a global financial hub. The extended tax break is expected to attract more banks, asset managers, reinsurers, and investment firms to set up offices or grow their business in the IFSC. GIFT City has already been growing steadily, with more companies registering in banking, investment, and fund management sectors.

The new tax incentives will apply starting April 1, 2026, covering the 2026‑27 financial year and beyond. This step is part of a wider effort in the budget to boost India’s financial markets, attract international investment, and make the country more competitive globally.

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Categories
Corporate

Ahmedabad’s GIFT City expands as $100 billion financial hub

Ahmedabad’s GIFT City, the Gujarat International Finance Tec-City, is fast emerging as a major financial and urban hub, with total assets under management crossing $100 billion. The development surge has been further accelerated by Ahmedabad’s bid to host the 2030 Commonwealth Games, putting the city in the national and global spotlight.

The International Financial Services Centre Authority (IFSCA) now oversees over 1,034 registered entities, including 38 banks, across banking, insurance, fund management, fintech, and other sectors. The robust growth signals GIFT City’s transformation from a business district into a comprehensive financial ecosystem.

Infrastructure development is keeping pace with its financial growth. Around 930 residential units are already completed, with 7,000 more under construction. The city’s masterplan allows for up to 62 million sq ft of built-up space, of which nearly 30 million sq ft has been allotted. Experts anticipate close to 50% of the total development to be ready within the next 2–3 years.

GIFT City is designed as a fully integrated smart city. Its underground utility tunnels carry power, water, telecom, and waste systems, ensuring a “dig-free” surface as the city expands. Social and recreational amenities, including a 27-acre central park, riverfront development, jogging and cycling tracks, sports courts, plazas, and food and retail zones, aim to attract residents as well as office-goers.

The CWG 2030 bid has added urgency and visibility to the city’s growth, with improved connectivity on the horizon via metro expansion, a direct airport link, and high-speed rail plans. Analysts note that these developments position GIFT City not just as a financial hub, but as a modern, self-contained smart township, potentially serving as a blueprint for future integrated urban zones in India.

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