Ultra-Rich Indians Find a New Route to Invest Their Cash Overseas
India's richest families have found a new way to buy global stocks and bonds through the nation's low-tax hub, offering a rare path for the super-wealthy to invest overseas.
Investments routed abroad through funds in the Gujarat International Finance Tec-City more than tripled to $778 million in six months through December, according to official data. The Reserve Bank of India opened the way for family offices to invest via the Overseas Portfolio Investment route in June.
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