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The International Financial Services Centres Authority (IFSCA) has released a consultation paper proposing to expand the list of overseas jurisdictions whose investment products can be distributed through GIFT City. The proposal would allow regulated distributors operating in GIFT IFSC to offer eligible investment products from additional international markets, including the European Union, the UAE, Singapore and Australia, subject to regulatory conditions. The move is aimed at broadening investment choices for eligible investors, strengthening GIFT City's position as an international financial services hub and aligning its distribution framework with global practices. IFSCA has invited public comments on the draft proposal before finalising the revised regulatory framework.
The International Financial Services Centres Authority (IFSCA) has proposed expanding the range of international investment products that can be distributed through GIFT City by widening the list of recognised overseas jurisdictions under its distribution framework. The proposal, released through a consultation paper, seeks to provide eligible investors with access to a broader selection of global investment funds while reinforcing GIFT City's role as an international financial centre.
At present, fund distribution activities within GIFT IFSC are limited to investment products originating from a specified list of jurisdictions. Under the proposed changes, distributors regulated by IFSCA would be permitted to offer investment products from additional jurisdictions, including the European Union, the United Arab Emirates, Singapore and Australia, subject to compliance with prescribed regulatory requirements. The expanded framework is intended to diversify the investment options available through the IFSC ecosystem.
IFSCA stated that the proposal has been developed after assessing the regulatory standards and market practices of various overseas jurisdictions. The authority believes that expanding the eligible list would help create a more competitive investment environment while enabling investors to access a wider range of professionally managed global funds through entities operating in GIFT City.
The consultation paper also seeks to ensure that only investment products originating from jurisdictions with recognised regulatory frameworks and appropriate investor protection standards are eligible for distribution. Distributors operating in GIFT IFSC would continue to be required to comply with due diligence, disclosure and regulatory obligations under the authority's existing framework.
The proposal forms part of IFSCA's broader efforts to expand the range of financial products and services available through GIFT City. In recent months, the regulator has introduced or proposed several measures aimed at deepening capital markets, improving ease of doing business and enhancing GIFT City's attractiveness as a global financial services destination.
Stakeholders have been invited to submit comments on the consultation paper before the revised framework is finalised. Once implemented, the proposed changes are expected to provide investors with greater access to international investment opportunities while supporting GIFT City's ambition to emerge as a globally competitive cross-border financial and investment hub.
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