He said India has about 2,400 Fintech firms which are growing exponentially. "The IFSCA, I would like to emphasise, attaches huge importance to developing the FinTech hub. We want to be the frontrunners in this," Chairman Injeti Srinivas said.
Gold standard
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The international bullion exchange at GIFT city could be a game changer for gold trade in India
It’s good to note the brisk speed with which the implementation of the international bullion exchange in the Gujarat International Finance Tec-City is progressing. For it hastens the process of India becoming a price setter in the international bullion market, from being a price taker. The absence of a spot market for gold in the country forced domestic stakeholders to use prices traded on international exchanges to compute local prices. The signing of the memorandum of understanding between the leading stock and commodity exchanges and depository participants last week sets the stage for erecting the market infrastructure on which the bullion exchange will be based. Besides helping discover prices in India, the exchange can also become a future hub of gold trading if international traders are incentivised enough to shift part of their trading here. The necessary reg
‘Sweden’s expertise in clean tech to aid ISA’
March 05, 2021
Prime Minister Narendra Modi with his Sweden counterpart Stefan Lofven during a virtual summit, in New Delhi, on Friday - -
Prime Minister Narendra Modi with his Sweden counterpart Stefan Lofven during a virtual summit, in New Delhi, on Friday - -×
Modi, Lofven take note of MoUs proposed in the area of airports, financial services
Prime Minister Narendra Modi has welcomed Sweden’s decision to join the International Solar Alliance (ISA) and said that the country could contribute significantly to the alliance with its expertise in clean technologies.
India and Sweden can also partner in the process of post-Covid stabilisation and recovery and make efforts to deepen cooperation in areas such as innovation, technology, investment, start-ups and research & development, Modi said at a virtual summit with his Swedish counterpart Stefan Lofven on Friday.
Aircraft leasing business can now take wings out of GIFT City
February 19, 2021
indigo
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Regulator issues ‘Framework for Aircraft Operating Lease’, paving way for offshore entities to set up base in IFSCs
The legal decks have been cleared for aircraft leasing businesses to take wings out of Indian shores (GIFT IFSC in Gujarat) with the GIFT City regulator International Financial Services Centre Authority ( IFSCA) on Friday issuing a ‘ Framework for Aircraft Operating Leases’.
This will enable the aircraft operating lease businesses to be set up in International Financial Services Centres (IFSCs) and address the projected market size of more than $ 50 billion for aircraft leasing in the country. Currently, India has only one IFSC in GIFT City in Gujarat.