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MARCH 2026

GIFT CITY-IFSC and

India’s Global

Financial Ambitions

The Vision A Regulatory
Framework Built for
In 2015, the Government of India
implemented a major financial sector reform Global Leadership
by establishing and operationalising India’s
maiden International Financial Services The rapid emergence of GIFT IFSC as a
Centre (IFSC) in Gujarat International preferred international financial centre
Financial Tec-City (GIFT City), Gujarat. The can be attributed to three foundational
vision of the Government is to develop GIFT pillars.
IFSC as a leading global financial centre
with trusted business regulations, a First, the IFSC has been designated as
a non-resident zone under the Foreign
Dr Dipesh Shah competitive tax structure, and a world-class Exchange Management Act (FEMA),
ease of doing business environment.
Executive Director which enables entities operating in the
International Financial Over the last few years, GIFT IFSC has IFSC to conduct business operations in
Services Centres Authority made remarkable progress in achieving its any of the 15 notified foreign currencies
(IFSCA) twin objectives: including USD, GBP, Yen, Euro, etc.
a) Onshoring India-centric international
financial services business, and Second, while India’s domestic financial
b) Serving as a preferred gateway for sector is regulated by four independent
channelising global capital flows into the regulators, namely the Reserve Bank of
country. India (RBI), the Securities and
Exchange Board of India (SEBI), the

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