GIFT is being developed as a global financial and IT Services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centres. APPLICATION FORM-R4 [For Professional Accreditation-GIFT Area] GIFT Block Images. Indeed, it is a momentous occasion for India’s financial sector. It is estimated that GIFT requires 5.76 million sq m of real estate office and residential space. Government of India operationalized International Financial Services Centre (IFSC) at GIFT Multi Services SEZ in April 2015. With the launch of the IFSC at GIFT City, the GoI had taken the first step to bring financial services transactions which are relatable to India, back to India. Indian residents can now invest in GIFT City under LRS, but RBI isn’t thrilled about it The IFSC regulator has approved banking regulations for IBUs. Strict adherence to environmental norms, with built-in technologies for a sustainable ecosystem. The Government of India has established IFSC in Gujarat namely Gujarat International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. Dubai and Shanghai aspiring to be one of them. Read all news including political news, current affairs and news headlines online on Gift City Ifsc today. Operating framework for Stockbrokers having registered office at GIFT City. Providing financial incentives, regulatory freedom and world-class infrastructure. Tapan Ray, MD & Group CEO of GIFT City, informed that the announcement will boost the investor confidence both in India and abroad as it re-emphasizes the importance of GIFT-IFSC … Tax Holiday (GoG has also exempted stamp duty for entities having registered office in GIFT for capital market activities). In Chapter 3 of the report, the committee has also recommended that companies incorporated outside India should be permitted to list their equity shares on stock exchanges established within IFSC in GIFT City. This will alert our moderators to take action. Last Updated Date: Gujarat International Finance Tech-city (GIFT) SEZ is India’s first International Financial Services Centre (IFSC) under Special Economic Zone Act, 2005 (“SEZ Act 2005”). Creation of an estimated 500,000 direct jobs and an equal number of indirect jobs. Further, increased certainty around some issues in relation to the IFSC regime may still be on the wish-list of the alternative asset management industry looking to establish in GIFT City. Committee says IFSC should aim at providing Indian diaspora and individuals from Asia and Africa with full range of financial services, serve residents availing liberalised remittance scheme A hybrid structure like Singapore, which has both local and global business. Are you a financial institution, corporate office, professional service provider? Download The Economic Times News App to get Daily Market Updates & Live Business News. GIFT Wallpaper Images. Introduction to IFSC and GIFT City. Email. Opportunity to trade from the IFSC in Global capital markets such as (NYSE, LSE etc.) which many brokers are currently doing from other financial centres such as Singapore, Hong Kong, etc. The Government of India (‘GoI’)had launched India’sfirst IFSC in Gujarat at GIFT City in April 2015. It is the vision of the Hon’ble Prime Minister that GIFT IFSC emerges as a hub for international financial services activities. Thecoreobjectivesfordevelopingan IFSCin Indiaareoutlinedbelow- a. A window of Liberalised Remittance Scheme (LRS) where resident Indians can invest upto US$250,000 per annum in certain permitted foreign currency instruments. The Union Budget 2016 provided competitive tax regime for the IFSC at GIFT SEZ. Integrated township, International Financial Services Centre and Multi-Specialty SEZ - together in 886 acres at Gandhinagar, Gujarat GIFT City Co Ltd, which is implementing the GIFT City project in Gandhinagar, is a 50:50 joint venture between Infrastructure Leasing and Financial Services Ltd (IL&FS) and state government-owned Gujarat Urban Development Company Ltd. World class infrastructure and unparalleled connectivity and transportation access. Get all the latest news and updates on Gift City Ifsc only on News18.com. Long Term Capital Gain (LTCG) waived off. GIFT IFSC is a Multi Services Special Economic Zone with 105 hectors of land and commenced its business in April 2015. To counter this unabated export of Indian products to such international financial centres, India has established its own IFSC at GIFT City, Gandhinagar to develop an international financial centre in India, rivalling the likes of Singapore and Hong Kong. Get all the live Quotes on INDIA 50 Futures and options, real time prices of Equity, currency and commodity derivatives. A greenfield smart city with state-of-the-art Infrastructure and integrated development offering supportive business environment and quality of life. Government of India operationalized International Financial Services Centre (IFSC) at GIFT Multi Services SEZ in April 2015. Seamless migration of fund managers and funds in GIFT City without any adverse tax consequences would go a long way in encouraging stakeholders to migrate existing structures to GIFT City. India has been witnessing a high growth in the investment funds domain, ranging from fund-raising activity to active investments by funds, and also an adaptive and dynamic regulatory environment conducive to the witnessed growth. GIFT City_Flyer. The Union Budget 2016 provided competitive tax regime for the IFSC at GIFT SEZ. Read more about Expert panel suggests making GIFT city a gateway for global investors on Business Standard. Mumbai: Market regulator the Securities and Exchange Board of India() has eased the ownership norms for stock exchanges operating from International Financial Services Centre(IFSC), GIFT City.Until now, only a select few category of investors such as Indian banks, insurance companies and public institutions were allowed to hold shares of stock exchanges based in IFSC, Gift City. In India GIFT- Gujarat International Finance Tec city in Gandhinagar is an IFSC. Full-service finance centre such as Tokyo and New York. Handbooks for Developers. Let's reshape it today, Hunt for the brightest engineers in India. It comes under MINISTRY OF COMMERCE as it is set up The purpose of setting up the GIFT City is to develop a world class smart city that becomes a global financial hub with the development of an International Financial Services Centre (IFSC). India International Exchange (IFSC) Limited (India INX) - India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). Why follow tips? Twitter. Minimum Alternate Tax (MAT) reduced from 18.5 % to 9 % in IFSC. It is being developed as a global financial services hub. US$ 4 bn, Number of employment generated in GIFT City : 9000+, IFSC Banking Business as on 31st March, 2020 : US$ 28 bn, IFSC Insurance Business Sum Insured :US$ 30 bn. GIFT City is central business hub with state-of-the-art infrastructure and a first of its kind development in India. Union Budget 2019: India’s only International Financial Service Centre (IFSC), at GIFT City, Gandhinagar, is one of the most ambitious endeavours of the … He chairs the Committee on Capital markets of Ficci and is a member of Sebi Primary Market Advisory Committee. GIFT (Gujarat International Finance Tec-city) is conceptualized as a global Financial and IT Services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centres such as Shinjuku, Tokyo, Lujiazui, Shanghai, La Defense, Paris, London Dockyards etc. Tomorrow is different. Ramakant Jha, managing director and chief executive officer of GIFT Company, which is executing the Gift City and the IFSC project, said: “The government has taken up the IFSC project as priority and we’re planning to operationalise the project in a year’s time. Indian Financial System Code (IFSC). Explore opportunities for your business in the GIFT SEZ. If approved the IFSC to be set up at the Bandra kurla complex (BKC) in Mumbai willbe the second such center. IFSC Banking Unit (IBU), GIFT City. These centers have their own large domestic economy along with a good regulatory and legal backup. Since the 2015 launch of International Financial Services Centre (IFSC) in Gujarat's GIFT City, several initiatives at policy, regulatory and operational levels have helped India’s IFSC dream take shape and gain attention from far and wide. Gujarat International Finance Tec-City (GIFT), India’s first International Financial Services Centre(IFSC), embodies this vision with conducive IFSC, Multi-services Special Economic Zone (SEZ) and an exclusive domestic zone. Linkedin. Choose your winners rationally in 3 simple steps! Use Branch Locator tool here if you know State, City and Branch Name. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. List of Accredited Consultants. The formation of most of these funds however have been concentrated to the well-known financial hubs such as Hong Kong, … Get GIFT City IFSC latest news, breaking news, videos, photos, special reports, trends, top news, opinions on GIFT City IFSC at Business Standard GIFT City is an integrated development on 886 acres of land with 62 mn sq. Offshore financial centers like Mauritius which do not have a robust domestic economy but have international access and acceptance. We understand that a supportive business environment is key to helping your company thrive. GIFT HOUSE, Block - 12, Road 1-D, Zone - I, Gift Sez, Gift City, Gandhinagar GJ 382355, Gujarat. Learn more about what GIFT SEZ has to offer, from easy set-up processes to an enabling infrastructure and a variety of office spaces. “The setting up of a Unified Regulator will further put GIFT IFSC in a fast-track mode.” The objective of the GIFT City is two-fold. 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