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Global Rating Giant Moody's to Set Up Shop in India's GIFT City
30 Mar
Summary
- Moody's Investors Service Singapore is applying to establish a branch at GIFT IFSC.
- New IFSCA regulations paved the way for global credit rating agencies to enter.
- Moody's entry follows S&P Global Ratings' approval in June 2025.
Moody's Investors Service Singapore Pte. Ltd. has applied to establish a branch at GIFT IFSC, Gujarat's offshore financial hub. This development aligns with new IFSCA regulations that officially permit credit rating agencies to operate within GIFT City. The application was filed in March 2026, seeking registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025.
The proposed Moody's entity will focus on credit rating and other permissible activities, commencing operations with a modest footprint and a small team. This strategic move by one of the 'Big Three' rating firms signifies growing international interest in GIFT IFSC. It follows S&P Global Ratings' successful application for a branch approval in June 2025.
Credit rating agencies are vital for assessing financial instrument creditworthiness. SEBI's July 2024 decision to permit rating activities within the IFSC framework has been a key enabler for such entries. Domestic players like CARE Ratings (CareEdge) have also expanded their presence, underscoring GIFT IFSC's expanding role in the global capital markets ecosystem.
