Union Budget: A GIFT City that keeps on giving

Banks, for the very first time, can finance M&A activity within Indian borders at GIFT City. It currently houses the only International Financial Services Centre (IFSC) in the country that provides international banking services from Indian shores.

GIFT City MD & CEO Tapan Roy said Budget’s new measures will improve the ease of doing business. It will provide prospective entrants a single-window IT system for registration and approval from IFSCA, SEZ authorities, GSTN, RBI, Sebi, and Irdai. Also, the IFSC Authority will henceforth have all the powers available to a
special economic zone (SEZ).

“The measures will facilitate capital flows. Additionally, the amendments to recognise offshore derivate contracts as valid contracts, will help the movement of such instruments from other offshore jurisdictions into GIFT City,” said Deutsche Bank Group IndiaCEO Kaushik Shaparia.