IFSCA Official

India’s economy continues to demonstrate strong resilience and sustained growth momentum despite global headwinds. Real GDP recorded 𝟳.𝟴% 𝗴𝗿𝗼𝘄𝘁𝗵 𝗶𝗻 𝗤𝟭 𝗙𝗬 𝟮𝟬𝟮𝟲–𝟮𝟳, while nominal GDP grew by 𝟭𝟬.𝟯%, reflecting the strength and breadth of economic activity. Real GVA also grew by 𝟴.𝟮%, supported by broad-based performance across key sectors. The continued expansion in manufacturing, construction, services, exports and investment reflects the growing depth and dynamism of the Indian economy, further strengthening India’s position as an attractive destination for global capital and international financial services. 𝗚𝗜𝗙𝗧 𝗜𝗙𝗦𝗖, as India’s international financial gateway, remains well positioned to support and accelerate this growth by facilitating cross-border capital flows and global financial activity. 

The International Financial Services Centres Authority (IFSCA) and the Financial Supervisory Commission (FSC), Taiwan, have executed a ‘Cooperation Agreement on Fintech’ establishing a referral mechanism that will enable both authorities to refer innovator businesses seeking to operate in each other's markets. The Agreement also facilitates the sharing of information on financial innovation across the two jurisdictions — including emerging market trends, new technologies, and regulatory developments in financial services and products. The agreement was virtually exchanged and operationalised on August 28, 2026, at the 19th India-Taiwan Economic Consultations (19th ITEC) held in Bengaluru. It builds on the general MoU signed between IFSCA and FSC in December 2025, marking a further step forward in deepening collaboration between the two authorities. This partnership reflects IFSCA's continued commitment to fostering cross-border fintech innovation and strengthening international regulatory cooperation, further positioning GIFT IFSC as a global gateway for financial services and innovation. Dr. Dipesh Shah Joseph Joshy K Kundan Krishna Rajiv Vivekananda #IFSCA #GIFTIFSC #GIFTCity #Fintech #FinancialInnovation #RegTech #InternationalCooperation #IndiaTaiwan #FinancialServices

📢 IFSCA has released a Consultation Paper on the proposed framework for the Secondary Listing of Exchange Traded Funds (ETFs) in IFSC. 🔹 The proposed framework seeks to enable a fund manager regulated in its home jurisdiction to secondary list an existing ETF on a recognised stock exchange in the IFSC. 🌐 Drawing from international practices, the proposed framework adopts a proportionate and calibrated regulatory approach, with safeguards including eligibility criteria for the fund manager and the ETF, appointment of a local representative, and enhanced disclosures for investors in the IFSC. 📈 Secondary listing of ETFs can play an important role in expanding the range of transparent and cost-efficient investment products available through IFSC exchanges, broadening investor participation and providing global fund managers with a streamlined route to access the GIFT IFSC ecosystem. Over time, the framework can also complement and strengthen the development of a broader ETF ecosystem in the IFSC.   IFSCA invites public comments and stakeholder feedback on the proposed framework. Comments may be shared latest by 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟭𝟳, 𝟮𝟬𝟮𝟲.   #IFSCA #GIFTIFSC #ETF #ExchangeTradedFunds #CapitalMarkets #FundManagement #GIFTCity #FinancialMarkets

IFSCA welcomed a high-level delegation from the British Virgin Islands (BVI) to GIFT City. The delegation was led by Hon’ble Dr. Natalio D. Wheatley, Premier and Minister of Finance, and included Hon’ble Lorna Smith, OBE, TEP, FCG, Minister for Financial Services, Economic Development and Digital Transformation of the Virgin Islands, and Mr. Kenneth Baker, CEO & Managing Director, BVI Financial Services Commission, along with several other officials from the BVI Government. Discussions centred on deepening bilateral cooperation in financial services, spanning funds, capital markets, insurance and FinTech. #IFSCA #GIFTCity #BVI #FinancialServices #InternationalFinance #CapitalMarkets 

Shri SUPRIYO BHATTACHARJEE, Executive Director, IFSCA, addressed the meeting of the IBA Sectoral Committee for GIFT-IFSC at GIFT City, highlighting the remarkable growth and transformation witnessed in the banking ecosystem of GIFT-IFSC over the past few years. Shri Bhattacharjee noted that with growth comes greater opportunity and greater responsibility and thus emphasised the need for banks to strengthen their risk management and fraud management frameworks, particularly as retail deposits in GIFT-IFSC have grown to around USD 2 billion. He also highlighted the strong traction witnessed by IBUs under the FCNR(B) leverage scheme, with loans sanctioned reaching approximately USD 28 billion. Concluding his remarks, he emphasised that as GIFT-IFSC continues to evolve as a leading international financial centre, preserving and strengthening confidence in its banking ecosystem will remain critical. He has urged IBA to function as think tank in undertaking research in emerging areas of Banking.

Shri Kalyanaraman Rajaraman, Chairperson, IFSCA, addressed the of the IBA’s sectoral committee on IFSC GIFT City IBUs at Grand Mercure, GIFT City. In his address, Chairperson highlighted how India’s banking sector can contribute to the journey towards 𝗩𝗶𝗸𝘀𝗶𝘁 𝗕𝗵𝗮𝗿𝗮𝘁 𝟮𝟬𝟰𝟳. Key takeaways from Chairperson’s address – 1.     Constant engagement with IBA: Closer and continuous interaction with IBA is essential to identify issues proactively and shape solutions before they become challenges. 2.     Sectoral committees as think tanks: IBA’s sectoral committees can play a larger role in brainstorming on emerging areas such as ease of doing business, trade finance, cybersecurity and other future-facing priorities. 3.     Mobilising savings for investment: India’s investment-to-GDP ratio stands at around 31%, compared with 42% in China. Raising savings and channelising them into productive investment will be critical for achieving Viksit Bharat 2047. 4.     Corporate debt and self-reliance: Banks have significant headroom to expand corporate debt financing and support higher investment, strengthening India’s path towards greater economic self-reliance. 5.     IFSCA and IFSC as strategic enablers: IFSC as a 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗽𝗿𝗼𝗷𝗲𝗰𝘁 for India, with significant potential in trade finance, ECBs and investment flows with IFSCA playing an important role in mobilising global and domestic capital for national goal of Viksit Bharat 2047. 6.     Trade finance and exports: With India targeting 𝗨𝗦$𝟮 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻 𝗶𝗻 𝗲𝘅𝗽𝗼𝗿𝘁𝘀, banks, factoring companies and digital trade platforms can collaborate to develop innovative trade-finance products. 7.     New opportunities for IBUs: Wealth-management solutions can help bridge the asset-liability gap of IBUs. Banks can consider establishing specialised financing units to support Aviation and shipping finance. 8.     Technology frontier: Banks need to actively explore advanced areas including AI and tokenisation—covering payments, securities and deposits. 9.     Research-led banking policy: IBA can collaborate with premier institutes like IIMs and other academic institutions to build dedicated research capabilities and publish flagship research on issues shaping the future of banking and finance. He also expressed an appreciation for IBA’s feedback on the IFSCA’s circulars on Internet Banking and AML circulars, thereby reinforcing the importance of industry participation in regulatory consultations. Concluding his speech, he noted that the IFSC banking ecosystem has made encouraging progress, while emphasising that its next phase of growth will require 𝗱𝗲𝗲𝗽𝗲𝗿 𝗰𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝗺𝗼𝗻𝗴 𝗜𝗙𝗦𝗖𝗔 𝗮𝗻𝗱 𝗜𝗕𝗔 with a shared objective of positioning the IFSC as a globally competitive banking hub and making a meaningful contribution to India’s vision of Viksit Bharat by 2047.

Today at The Economic Times World Leaders Forum 2026, Taj Palace, New Delhi, Dr. Dipesh Shah, Executive Director (Development), IFSCA, participated in a panel discussion on "Emergence of International Financial Services Centres and their role in the Viksit Bharat 2047 vision." Speaking alongside other senior leaders from the financial services sector, Dr. Shah underscored the pivotal role that International Financial Services Centre will play in advancing India's Viksit Bharat 2047 vision. He highlighted how GIFT IFSC is channelling global capital, talent and financial services into the country, and building the institutional depth to serve as a bridge between India and the world. The Economic Times Front Row #IFSCA #GIFTIFSC #GIFTCity #ViksitBharat #InternationalFinance

Today, IFSCA participated in The Economic Times World Leaders Forum 2026, hosted by The Times of India Group at Taj Palace, New Delhi, under the theme "Shared Futures: Secure, Intelligent, Resilient." Dr. Dipesh Shah, Executive Director (Development), IFSCA, joined the panel discussion "The New Geography of Capital: Where the Smart Money — and Smart Deals — Are Moving," alongside Ms. Anu Aiyengar (J.P. Morgan), Mr. Kevin D. Strain (Sun Life), Baroness Sharon White (La Caisse) and Sir Martin Sorrell (S4 Capital). As global investors reassess traditional financial hubs and capital deployment strategies, Dr. Shah shared how GIFT IFSC is positioning itself as a global gateway for cross-border finance, and the opportunities it offers to international investors and institutions seeking to participate in India's growth story. The Economic Times Front Row #IFSCA #GIFTIFSC #GIFTCity #InternationalFinance #ETWorldLeadersForum

Mr. Samuel Wesly TP, Manager, Department of Banking, participated in M1 NXT, an ITFS platform, event held in Vadodara, Gujarat, focused on engaging with exporters to promote awareness on GIFT IFSC trade finance ecosystem. During the event, he shared insights on the growing opportunities in Trade Finance in GIFT IFSC. The discussion highlighted several key enablers that can support exporters in accessing competitive and innovative trade finance solutions viz.  a) Interest subvention benefit under the Niryat Protsahan Scheme for MSME exporters availing export factoring from factors registered with IFSCA. b) Capital relief for IFSCA-registered factors, which is expected to enhance their ability to offer more competitive rates to exporters. c) Recent FEMA amendments enabling Indian exporters to open and maintain accounts with IBUs and retain export proceeds in these accounts for up to three months vis-à-vis upto one month in the case of account in other jurisdictions. Further, earning of interest on current accounts d) Growing transaction volumes through ITFS platforms, following the amendments to the ITFS framework introduced last year. e) Opportunities for Trade Credit Insurance in the IFSC ecosystem. f) The expanding banking ecosystem at GIFT IFSC, creating a broader range of solutions for exporters.