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TheInternational Financial Services Centres Authority (IFSCA)Expert Committee on international retail business development in the IFSC has submitted its interim report to the Chairperson of the IFSCA. The interim report covers a number of suggestions aimed at swift and efficient development of inter
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FAQ :
The IFSCA Expert Committee has submitted its interim report on the development of international retail business in the IFSC.
The interim report mainly focuses on the banking vertical for the development of international retail businesses.
Other key business verticals, including insurance, asset management, and capital markets, will be covered in subsequent reports planned by the committee.
The vision for GIFT IFSC is to provide a best-in-class jurisdiction with progressive and light-touch regulation, establishing it as a dominant gateway for global financial flows and a major global financial hub.
The IFSC can aim to become a gateway to India's growth story for international investors, provide a comprehensive range of financial services to the Indian diaspora and individuals from Asia and Africa, and serve domestic residents using the liberalised remittance scheme.
Promoting international retail business in IFSC can meet three key objectives: boost job creation, generate additional revenue for India, and attract funds for building India's infrastructure.
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