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This move comes as a follow-up to the announcement made by Finance Minister Nirmala Sitharaman during the Budget Speech of 2023-24, wherein ODIs issued in GIFT-IFSC were recognised as valid contracts
Govt has shared its promises delivered via a series of tweet highlighting the major government initiatives such as faster resolution of insolvency cases, reclaiming of shares & dividends via IEPF, setting of investment and infra fund, and establishing social stock exchange, among others
A long-standing ask of Indian startups and companies wishing to tap global pools of capital has been accomplished by allowing them to offer their securities on permissible international exchanges in GIFT IFSC. This internationalisation of Indian equities also solves two complaints global investors had: interface with tax authorities, and currency conversion friction
Direct listing of Indian companies' shares on GIFT City exchanges is the first step in allowing them to list overseas.
Startups and companies in emerging sectors will be able to tap global markets to raise capital through the financial hub’s exchanges