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GIFT City Simplifies Rules for Capital Growth
28 Oct
Summary
- GIFT City streamlines approvals to attract global investors.
- New framework allows Indian firms to raise international capital.
- Regulatory clarity is key to GIFT City's future growth.
GIFT City is actively working to solidify its standing as an international financial center through business process simplification and expanded access to overseas investments. Leaders at the Business Standard BFSI Summit in Mumbai highlighted efforts to create new pathways for companies to raise capital.
The regulatory framework at GIFT City now encompasses banking and other financial services, aiming to build a distinct identity with an efficient dispute-resolution mechanism. Procedural delays are being reduced by integrating SEZ and IFSCA approvals under a single point of contact.
Discussions also focused on attracting more international listings. Initiatives are underway to facilitate Indian issuers raising capital abroad through GIFT City exchanges. Efforts are being made to simplify processes for overseas investing, though some hurdles like know-your-customer requirements need resolution.
Ultimately, regulatory clarity and certainty are identified as crucial advantages for businesses operating in GIFT City. The center is poised to support innovation in various financial sectors, with a long-term vision for significant growth.
