India's first and only IFSC, established to regulate cross-border capital flows and position India as a global financial hub — frequently tested in UPSC Prelims on financial infrastructure and SEZ models.
The article highlights GIFT City's role in regulating cross-border capital channels, driving total internal and outbound flows to $1.40 billion and $2.35 billion respectively, in the context of India's FDI decline.
|
Term |
Detail |
|
Full Form |
Gujarat International Finance Tec-City |
|
Location |
Gandhinagar, Gujarat |
|
Regulator |
IFSCA (International Financial Services Centres Authority) |
|
Legal Framework |
SEZ Act, 2005; IFSCA Act, 2019; FEMA, 1999 |
|
Tax Benefit |
100% income tax exemption for 10 out of 15 years (Section 80LA) |
|
Key Services |
Offshore banking, aircraft leasing, bullion trading, fund management |
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