India's window to global capital — explained simply.
Gujarat International Finance Tec-City — India's first International Financial Services Centre — is reshaping how Indian capital accesses global markets and how global capital touches India.
What is GIFT City?
GIFT City is India's first International Financial Services Centre (IFSC), located in Gandhinagar, Gujarat. Inside its boundaries, a USD-denominated, deemed-offshore regulatory regime operates under a single unified regulator — the IFSCA — covering banking, capital markets, insurance and fund management.
Why was it created?
To onshore the offshore — bringing financial activity that Indian institutions historically conducted from Singapore, Dubai or London inside India's jurisdiction, with comparable regulatory and tax efficiency.
Regulatory structure
The International Financial Services Centres Authority (IFSCA) is the single regulator for all financial services activity in IFSCs. This unified structure replaces the historic alphabet soup of RBI, SEBI, IRDAI and PFRDA jurisdiction at the IFSC level.
Tax advantages
10-year tax holiday on business income for IFSC units
No GST on services to non-residents
Exemption from STT and CTT for IFSC transactions
No DDT; favourable capital gains treatment for non-residents
Current limitations
Product ecosystem still maturing — fewer choices than mature offshore centres
Operational frictions in onboarding and KYC for first-time investors
Treaty positions for some IFSC structures still evolving
Secondary market liquidity for IFSC-listed instruments remains thin
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