Latest news with #GIFTCity
Mid East Info
3 days ago
- Business
- Mid East Info
Belong: New fintech platform offers NRIs safe & easy investment options in India
USD-based FDs with higher returns, shorter tenures, no Rupee depreciation risks, doorstep KYC, 100% repatriation and no tax on the returns. Belong also launches a transparent and seamless Indian tax filing service for NRIs. Dubai, UAE; Wednesday, 16 July 2025: Belong, a new fintech platform for global Indians to invest safely and easily in India, is now available for non-resident Indians (NRI) in the UAE. Licensed by IFSCA – regulator of GIFT City, India, Belong offers a US Dollar-based Fixed Deposit (FD) starting at just USD 5,000 (AED 18,365), with high returns. Ankur Choudhary, CEO and Co-Founder, Belong, said: ' Our vision is simple: to make it easier for Indians to thrive globally while staying connected to Ind ia. Every NRI has built a global identity through hard work and ambition, but financial and non-financial services in India haven't kept up. At Belong , with GIFT City FDs, NRIs get more flexibility in choosing shorter tenures and they are also protected against Rupee depreciation while enjoying tax free returns in dollars .' Belong users in the UAE do not need to route funds through their NRE or NRO accounts, and the earnings are fully repatriable to UAE with minimal paperwork. As these FDs are in USD, investors are also protected from INR value fluctuations against the US Dollar. GIFT City is not under Indian tax jurisdiction, and all earnings on Belong are fully tax-free in India. The deposits also offer flexible lock-in periods of 3-months and 6-months, compared to a minimum 1-year lock-in for FCNR deposits. ' NRIs experience challenges when investing in India, such as complex and in-country KYC, high currency conversion charges, taxation on all Indian earnings, difficulty in repatriation of funds, and more. Belong set out to tackle these on behalf of NRIs, and GIFT City regulations work perfectly for the NRIs who still want to contribute and benefit from the India growth story ', added Choudhary. Belong is offering these FDs in partnership with reputed Indian banks located in the Gujarat International Finance Tec-City (GIFT City), India's up-and-coming global financial services hub, similar to Singapore. Offered to NRIs mostly via Indian banks until now, FDs have long been a popular investment option in India. The Reserve Bank of India has recorded INR 103 trillion (approximately US$ 1.2 trillion) held in FDs as of 2024. While Belong offers USD Fixed Deposits at launch, the platform will soon add other financial products such as mutual funds, stocks, insurance, cards and more, which will offer NRIs more rewarding investment and transaction options in India. Alongside the USD-based FD service, Belong has also launched a dedicated India tax filing service for NRIs without the typical 'NRI markup' pricing. NRIs are usually charged higher, non-standardised rates for most services in India. Belong aims to change that by offering transparent and cost-effective NRI taxation services 'NRIs have long been underserved when it comes to modern, digital-first financial solutions tailored to their unique needs,' said Vaas Bhaskar, Partner, Elevation Capital. 'Belong is uniquely positioned to serve this massive, underserved market by combining deep fintech expertise with GIFT City's regulatory framework. We're excited to back this exceptional team as they scale across key markets and build the go-to platform for everything India that global Indians need.' Belong aims to become the financial and lifestyle bridge for global Indians – helping NRIs stay connected, invested, and rooted in India, no matter where life takes them. Belong already has a suite of NRI-specific digital tools to help NRIs make informed financial decisions. -x-
Entrepreneur
3 days ago
- Business
- Entrepreneur
Equirus Launches Offshore Small-Cap Fund from GIFT City for Global Investors
With a minimum investment requirement of USD 150,000, the fund focuses on listed small-cap companies in India that exhibit strong fundamentals, scalable business models, and high growth potential. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Equirus Asset Manager, part of the Equirus Group, has announced the launch of its latest investment vehicle, the 'Equirus Long Horizon Offshore Investments Fund.' Registered under the International Financial Services Centres Authority (IFSCA) as a Category III Alternative Investment Fund (AIF), the open-ended fund is based in GIFT City and is denominated in US dollars. It is tailored for global investors looking to tap into the long-term growth potential of Indian small-cap equities. With a minimum investment requirement of USD 150,000, the fund focuses on listed small-cap companies in India that exhibit strong fundamentals, scalable business models, and high growth potential. The fund is benchmark-agnostic and adopts a bottom-up, research-driven approach, emphasising disciplined investing and earnings-based stock selection. Sahil Shah, Chief Investment Officer at Equirus Asset Manager, highlighted, "India is entering a multi-decade growth cycle fueled by manufacturing momentum and a rising consumption-driven middle class. Small caps offer the most direct exposure to these trends. Our aim is to support high-quality businesses at pivotal stages in their growth journey." The fund is structured to provide a tax-efficient gateway for global investors, including Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). It draws on Equirus's established onshore investment strategy, which has delivered a compounded annual growth rate of 21.6 percent over more than eight years. Ajaykumar Gupta, Chief Business Officer at Equirus Asset Manager, noted, "This fund is more than a financial instrument. It connects global investors to the next chapter of India's economic rise. As the country advances toward becoming a 10 trillion dollar economy, our fund offers a transparent and compliant structure for participating in that transformation." Equirus's small-cap strategy is grounded in identifying companies capable of compounding earnings significantly above India's nominal GDP growth. The fund maintains a diversified portfolio of 20 to 25 businesses, ensuring a balance between risk management and focused capital allocation. As global interest in Indian equities increases, particularly in the under-researched small-cap segment, the new fund positions itself as a timely opportunity for long-term investors.
Time of India
5 days ago
- Business
- Time of India
Finance minister Nirmala Sitharaman promises government support to power GCC growth
File photo: Finance minister Nirmala Sitharaman NEW DELHI: India's Global Capability Centres (GCCs) could add up to $200 billion to the economy and generate thousands of jobs by 2030, FM Nirmala Sitharaman said as she promised government support to power growth of GCCs. FM emphasised how the government has been working on reducing approval timelines, enhancing tax certainty including on Advance Pricing Agreements and integrating administrative support across ministries. Sitharaman backed greater investment in Tier 2 and Tier 3 cities and showcased models such as the GIFT City as examples of regulatory facilitation. "India must not lose this opportunity," she said. FM said the sector has grown at a CAGR of 11 per cent over the last five years, stating that one new GCC was being established every week in 2024. While speaking at the CII-GCC Business Summit, she noted that nearly 50 per cent of Fortune 500 companies now have their GCCs in India as operating costs in India are 30-50 per cent lower compared to the UK, the US, and Australia. "There are about 1,800 GCCs currently operational in India, employing 2.16 million professionals. This is expected to rise to 2.8 million by 2030 - and I believe that's a conservative estimate," she said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Entrepreneur
12-07-2025
- Business
- Entrepreneur
Weekly Recap: Top 7 Funding Deals of the Week (July 5–11)
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Indian startup ecosystem continues to thrive, attracting investor attention from all corners, whether it's fintech, food-tech, pharmaceuticals, or digital media. From the bustling streets of Mumbai to the innovative hub of GIFT City, we witnessed a wave of exciting funding deals this week designed to spark innovation, broaden reach, and ramp up operations. Let's take a look at seven standout funding deals that showcase the vibrant and dynamic nature of India's entrepreneurial landscape. Credit Wise Capital Inception: 2018 Founders: Aalesh Avlani and Gurpreet Singh Sodhi Based-out: Mumbai Credit Wise Capital offers a range of financial services, including two-wheeler loans, personal loans, and various insurance products like health and life insurance. It also provides digital lending services, including tech-driven underwriting and collections, as well as bike servicing and roadside assistance. Funding Amount: USD 24.10 Million Investor: Trident Growth Partners (TGP) Khetika Inception: 2017 Founders: Dr Prithwi Singh, Darshan Krishnamurthy, and Raghuveer Allada Based-out: Mumbai Khetika is a clean-label food brand that offers staples free from preservatives, including rice, wheat, pulses, dry fruits, and fresh batters. By sourcing directly from Indian farmers, Khetika highlights traditional methods like stone-grinding and fermentation, ensuring that products such as chutneys, spices, and millet-based foods are packed with nutrition and authenticity. Funding Amount: USD 18 Million Investors: Narotam Sekhsaria Family Office, Anicut Capital, Incofin India Progress Fund, Rajasthan Gum, Shree Ram India Gums Arteria Technologies Inception: 2007 Founders: Parag Sushilkumar Jain and Sriram Kanuri Based-out: Bengaluru Arteria Technologies focuses on digitising supply chains using SAP solutions. Its flagship platform, FinessArt, connects supply chain participants, providing analytics, financial visibility, and decision-making tools. It also provides expert consulting services focused on SAP, covering everything from implementation and support to NetWeaver adoption. Funding Amount: USD 12.05 Million Investor: ICICI Venture InPrime Finserv Inception: 2021 Founders: Sneh Thakur, Manish Raj, and Rajat Singh Based-out: Bengaluru InPrime Finserv delivers customised credit solutions to underserved Informal Prime Households, including micro-entrepreneurs and small retailers. Its tech-first model integrates flexible repayment channels and gamified financial literacy programs to promote financial inclusion and empowerment. Funding Amount: USD 6.02 Million Investors: Pravega Ventures, Z47, InfoEdge Ventures, Kettleborough VC Sai Parenterals Limited Inception: 2001 Founder: Anil Karusala Based-out: Hyderabad Sai Parenterals is a pharmaceutical manufacturer offering CDMO services and branded exports. It produces sterile injectables, oral solids, and topical preparations. With five facilities approved by regulatory bodies like TGA and WHO-GMP, it covers the full pharmaceutical value chain from R&D to global distribution. Funding Amount: USD 6.02 Million Investors: Samarsh Capital, Vyom Partners, Blue Lotus Capital Chai Bisket Inception: 2015 Founders: Sharath Chandra and Anurag Reddy Based-out: Hyderabad Chai Bisket is a digital entertainment company known for vernacular content creation, influencer marketing, and film production. Its creative platform "The Stage" nurtures talent through events and workshops, while its new microdrama app "Chai Shots" targets short-form video consumption. Funding Amount: USD 5 Million Investors: InfoEdge Ventures, General Catalyst Belong Inception: 2024 Founders: Ankur Choudhary, Ayush Singh, Sai Sankar M, and Savitri Bobde Based-out: GIFT City Belong is a fintech platform tailored for NRIs, offering services such as fixed deposits, wealth management, and tax filing. The startup aims to simplify cross-border financial management for global Indians with user-friendly and compliant financial solutions. Funding Amount: USD 5 Million Investors: Elevation Capital, Relentless Ventures, and angel investors including Abhiraj Singh Bahl, Varun Khaitan, Akshant Goyal, and Varun Alagh This week's funding deals highlight the robustness and variety of India's startup scene, with capital flowing into finance, food, pharma, tech, and media—signaling investor confidence across the board.
Yahoo
11-07-2025
- Business
- Yahoo
Wall Street Just Got Backdoor Access to India's $639B Credit Boom
India might've just given Wall Street its next credit playground. In a quiet but significant move, the financial regulator for GIFT City has approved the use of total return swaps (TRS) on corporate bondsnot just sovereign debt. That means global players like HSBC and Standard Chartered can now offer international investors synthetic access to rupee-denominated company debt, without requiring them to open a local account. It's a structure tailor-made for speed and scaleand it's landing just as India's private credit scene hits record highs, including a $3.4 billion raise by Shapoorji Pallonji Group, the country's largest private credit deal to date. TRS has already been gaining steam thanks to India's upcoming inclusion in global bond indexes. That inclusion helped funnel $22 billion into government debtand this new layer could do the same for corporate bonds. We've seen good volume growth through our GIFT City branch, said Sachin Shah, managing director at Standard Chartered India, noting strong inbound interest from global funds. HSBC (NYSE:HSBC) confirmed it's also ready to offer swaps for corporate paper, riding a wave of fresh appetite for yield and exposure. For now, the swap approvals only cover rupee-denominated bonds. But banks are already pushing to extend access to dollar bonds issued by Indian companies through GIFT City. The International Financial Services Centres Authority isn't saying yes just yetbut it is preparing a consultation paper that could open that door. If it does, this may mark a turning point for India's $639 billion credit marketand reshape how foreign capital flows into one of the world's fastest-growing economies. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
