Govt move to notify GICs as fin services at IFSC to spur MNC investment

Topics GIC | GIFT-IFSC | Investments

The government’s move to notify global in-house centres (GICs) as financial services at the International Financial Services Centre (IFSC) – set up at the Gujarat International Finance Tec-City (GIFT City) – may prompt several foreign banks, asset managers and insurance companies to set up subsidiaries there.   On Friday, the government notified GICs – service delivery operators that are typically in low-cost geographies – as financial services within the GIFT City. This will allow multinational corporations (MNCs) to set up subsidiary firms at the IFSC.....

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