India's economic resurgence is capturing global attention, and the Indian diaspora—comprising Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs)—is uniquely positioned to be a part of this transformative journey. One of the most compelling gateways to connect the Indian diaspora with India’s growth story is the Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC).
GIFT IFSC is India’s maiden international financial services center, set up to bring offshore financial services onshore. It combines world-class regulatory environment, light-touch onboarding, competitive tax regime and state-of-the-art infrastructure. For NRIs and OCIs looking for a strategic foothold in India’s thriving financial and investment ecosystem, GIFT IFSC offers an unparalleled opportunity.
Located in Gandhinagar, Gujarat, GIFT IFSC is a special economic jurisdiction governed by a unified regulator—the International Financial Services Centres Authority (IFSCA). It serves as a hub for a wide range of financial services, including banking, insurance, capital markets, asset management, fintech, etc., all offered in foreign currencies and largely aimed at international investors, including the Indian diaspora.
One of the primary objectives of setting up GIFT IFSC is to ‘Onshore the Offshore’, i.e., offer a platform that provides the regulatory comfort of leading global financial centers like New York, London, Singapore or Dubai, while giving investors a chance to engage with the Indian economy more directly and efficiently.
Foreign Currency Accounts: Banks in GIFT IFSC offer foreign currency accounts. NRIs can maintain accounts in USD, EUR, GBP, etc., and place deposits in foreign currency.
International Remittances: Banks in GIFT IFSC offer faster, cheaper, and more transparent international remittances compared to traditional channels.
External Commercial Borrowings (ECBs): NRIs engaged in business activities can access cheaper dollar loans or ECBs via GIFT IFSC entities, reducing borrowing costs and improving capital access.
Digital Banking and Fintech Access: As GIFT IFSC embraces fintech innovations, NRIs can expect more tech-enabled banking services with complete global compatibility.
Direct Access to India’s Capital Markets: Through the IFSC Stock Exchanges (India INX and NSE IX), NRIs can invest in a range of products including Indian and global equities, ETFs, and debt instruments in foreign currency, without domestic compliance hurdles.
Global Trading Platforms: GIFT IFSC Exchanges operate for 22 hours a day, allowing NRIs from various time zones to trade efficiently. The platform also enables trading in US stocks and global indices.
Alternative Investment Funds (AIFs) & Mutual Funds (MF): NRIs can invest in AIFs / MF registered in GIFT IFSC which provide exposure to Indian private equity, real estate, and infrastructure sectors. These are tax-efficient and come with flexible investment structures.
Masala Bonds and Green Bonds: NRIs can invest in rupee-denominated debt instruments (like Masala Bonds) issued by Indian corporates through GIFT IFSC, which offer attractive returns and exposure to India’s infrastructure boom.
International Insurance Offerings: Insurers based in GIFT IFSC can offer products tailored for global Indians, including dollar-denominated term life, health, and annuity plans.
Reinsurance Hub: GIFT IFSC is emerging as a global reinsurance center, and NRIs in the insurance profession can explore career and entrepreneurial opportunities here.
Captive Insurance Opportunities: NRIs running global businesses can use GIFT IFSC to set up captive insurance entities, reducing premiums and gaining greater control over risk management.
Tax Holidays: Entities operating from GIFT IFSC enjoy a 10-year tax holiday out of a block of 15 years, making it very attractive for investment vehicles.
No Capital Gains Tax: For NRIs investing / trading in GIFT IFSC exchanges, long-term and short-term capital gains tax are exempt or significantly reduced.
No Securities Transaction Tax (STT): Unlike investments in domestic Indian markets, these taxes do not apply in GIFT IFSC.
Commodities Transaction Tax (CTT): Not applicable in GIFT IFSC unlike in domestic Indian markets.
No GST on Offshore Services: Financial services rendered to non-residents are exempt from GST, reducing the cost of managing international portfolios.
Open an Account: Approach an IFSC unit of a bank to open a foreign currency account. List of IFSC Banks: Click here
Get Onboarded with an IFSC Broker: Register with brokers licensed by IFSCA to trade on India INX or NSE IFSC. List of IFSCA registered brokers: Click here
Choose Investment Products: From ETFs and US stocks to mutual funds and AIFs, the menu is expanding rapidly. List of IFSCA authorized fund managers: Click here
Consult a Tax Advisor: Although GIFT IFSC offers significant tax advantages, your personal tax situation—especially if you reside in countries with global taxation (e.g., USA)—should be evaluated by the incoming institution.
GIFT IFSC is not just about better financial returns—it is about being part of India’s strategic financial evolution. It allows NRIs and OCIs to contribute to India’s infrastructure, green energy transition, digital economy, and global financial integration while managing their wealth more efficiently.
Whether you're a second-generation NRI exploring reconnection with India, or a global businessperson seeking access to one of the world’s fastest-growing economies, GIFT IFSC provides a secure, regulated, and innovation-driven platform to engage meaningfully.
The International Financial Services Centres Authority (IFSCA) has been established to regulate and develop financial services in the International Financial Services Centres (IFSCs) located in India.
