Latest news with #GIFTCity
Economic Times
a day ago
- Business
- Economic Times
GIFT Nifty hits record monthly turnover of $102.35 billion in May 2025
GIFT Nifty, the flagship derivative contract traded on NSE International Exchange (NSE IX) at GIFT City, posted its highest-ever monthly turnover of $102.35 billion (Rs 8.75 lakh crore) in May 2025, marking a new milestone for the platform. This surpasses the previous monthly high of $100.93 billion recorded in April 2025. ADVERTISEMENT The total trading volume stood at 2.10 million contracts for the month, underscoring growing global investor confidence in GIFT Nifty as a benchmark for India's growth story. Since the launch of its full-scale operations on July 3, 2023, GIFT Nifty has recorded a cumulative turnover of $1.93 trillion, spanning more than 43.28 million contracts as of May 2025. 'We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all participants for their overwhelming support,' NSE IX said in a statement. Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list Launched on June 5, 2017, NSE IX is a multi-asset international exchange operating at GIFT City and regulated by the International Financial Services Centres Authority (IFSCA). The platform commands over 99% market share within GIFT IFSC and offers a diverse range of products, including Indian Single Stock and Index Derivatives, Currency Derivatives, Depository Receipts, and Global Stocks. ADVERTISEMENT It also facilitates listings of equity shares, SPACs, REITs, InvITs, and ESG-linked debt securities under IFSCA's regulatory IX and GIFT Nifty have secured key regulatory clearances including CFTC's Part 30 exemption and SEC Class Relief, allowing US-based investors to participate in derivative contracts on the platform. ADVERTISEMENT Also Read: Ola Electric, Kalyan Jewellers among 10 firms where promoters pledge increased in Q4 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT
Time of India
3 days ago
- Business
- Time of India
$30 billion outflows in FY25: RBI to review remittance scheme
RBI MUMBAI: RBI is reviewing its 'liberalised remittance scheme', which saw outflows of around $30 billion in FY25, as it looks to rationalise the facility and promote the rupee as an international currency. RBI is carrying out a comprehensive review of the legal framework, annual limits, permitted purposes, and payment modes under the scheme. A revised framework and amendments to foreign exchange rules and regulations are currently underway. Similar reviews are ongoing for the money transfer service and rupee drawing arrangement schemes, with the aim of expanding permitted transactions and rationalising guidelines. The focus is on shifting to principle-based regulation and reducing compliance burdens. Earlier, RBI had amended the scheme to enable citizens to make foreign currency investments in international finance centres (GIFT City). In its annual report for 2024-25, RBI said regulations on foreign exchange management were aligned with evolving business practices to improve 'ease of doing business' and promote the rupee internationally. The annual report also talks about formalising the expected credit loss (ECL) framework for banks and issue guidelines to curb mis-selling of financial products by regulated entities, including third-party offerings. These reforms, highlighted in its annual report, are part of RBI's broader effort to enhance financial sector resilience amid growing risks from technology, cyber threats, and climate change. RBI's rupee internatioalisation efforts include reviewing several existing rules related to external commercial borrowings, export of goods and services, the supervisory framework for authorised persons, inward remittances, and cross-border settlements in rupees and other local currencies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hans India
6 days ago
- Business
- Hans India
Bengaluru Emerges as a Global Tech Hub Among Top 12 Cities Worldwide
The city of Bengaluru is now ranked among the top 12 tech cities worldwide, alongside New York, London, and San Francisco, as per a CBRE report. It is one of the biggest tech talent hubs in Asia-Pacific, with over one million tech workers, making it a vital center for technology and innovation. The city leads India in the number of AI specialists and is comparable to major US tech hubs. Bengaluru ranks fourth among these global cities for the percentage of working-age residents, with 75.5% of its population in this group, and has seen a rapid 2.4% growth in working-age people between 2019 and 2024. Bengaluru's startup ecosystem includes 28 unicorns and benefits from supportive business policies and strong educational institutions. It also hosts Global Capability Centres that supply skilled professionals in AI, data science, engineering, and product design. Tech employment grew by 12% from 2018 to 2023, reflecting global trends. In 2024, Bengaluru attracted 140 venture capital deals totaling $3.3 billion, including 34 in AI, underscoring its position as a leader in AI innovation and investment. Low costs and a large talent pool continue to draw global investors and major tech firms. Other Indian cities are also expanding their tech sectors. Delhi-NCR had 183 VC deals worth $1.9 billion, with 42 in AI, and hosts 15 unicorns and 16 IPOs. Mumbai recorded 167 deals valued at $4.9 billion, including 26 in AI, supported by 7 unicorns and 47 IPOs, making it a strong tech center. Ahmedabad and Jaipur are emerging as affordable and promising tech hubs. Ahmedabad's software, IT, and fintech industries benefit from projects like GIFT City, which is expected to employ over 20,000 people across 550 companies. Jaipur has additional benefits in comparison to Delhi-NCR due to lower costs, so it attracts startups and IT firms due to good educational institutions. Overall, Bengaluru stands out as a global tech leader with strong growth and investment, while other Indian cities are quickly rising as important technology centers.
Time of India
6 days ago
- Business
- Time of India
Bengaluru named Global Tech Powerhouse in CBRE's 2025 talent report
Bengaluru has been ranked among the top 12 global tech powerhouses in real estate consulting firm CBRE's Global Tech Talent Guidebook 2025, which analysed tech talent across 115 markets worldwide. Among others, the city joins the ranks of San Francisco, New York, London and Tokyo, with its workforce of more than a million, making it the largest tech talent hub in the Asia-Pacific region. The report evaluates cities on the basis of tech talent availability, quality and cost, categorising them as 'Powerhouse' (12 markets with large, deep and highly competitive talent pools), 'Established' (63 mature markets with consistent talent pipelines) or 'Emerging' (40 growth-focused markets with improving capabilities) markets. Bengaluru stood out not only for the size of its talent pool but also for its leadership in artificial intelligence (AI), boasting the highest number of AI professionals in India, comparable to major US clusters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Anshuman Magazine, chairman and chief executive of CBRE for India, South-East Asia, the Middle East, and Africa, said, 'The distribution of tech talent around the world is the result of many factors that have increased demand for tech workers beyond large tech clusters and into smaller and specialised markets. These factors include labour market conditions, quality of life, demographics, educational attainment, capital funding and the availability and cost of real estate.' Bengaluru's tech sector saw a 12% increase in employment between 2018 and 2023. Its 75.5% working-age population—fourth highest among 12 tech powerhouses—and robust startup ecosystem, backed by 28 unicorns and strong institutional support, have attracted significant venture capital (VC) funding. In 2024, the city closed 140 VC deals worth $3.3 billion, including 34 focused on AI. Live Events CBRE's report also points to Delhi-National Capital Region (NCR) and Mumbai as major contributors to India's tech economy. Delhi-NCR led in the number of deals (183), with $1.9 billion raised, while Mumbai saw fewer deals (167) but topped the funding chart at $4.9 billion. Both cities are home to multiple unicorns and companies that have launched initial public offerings, reflecting growing investor confidence. Beyond the metros, cities such as Ahmedabad and Jaipur are showing momentum. GIFT City in Ahmedabad is projected to host 550 companies and more than 20,000 jobs, while Jaipur is attracting startups and IT firms with its lower costs and strong educational base. 'What's even more promising is the parallel growth story unfolding in cities like Delhi-NCR, Mumbai, Ahmedabad and Jaipur—each contributing uniquely to India's diversified and resilient tech ecosystem,' said Magazine. 'This signals a maturing market that is not only creating value in established hubs but also unlocking potential across emerging corridors.'
Economic Times
26-05-2025
- Business
- Economic Times
Looking to take your investments international? Why Gift city should be your chosen gateway
Tired of too many ads? Remove Ads Outbound investments Tired of too many ads? Remove Ads Popular in Wealth 1. FD rate up to 9.1% for senior citizens investing for 5 years; Know the list of banks Inbound investments End note (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) The International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT) is treated as an international jurisdiction, even though its central business district is located within India's an example, Indian banks that have branches at GIFT report the deposits there as global (non-domestic) deposits. This is a gateway for investments to and from abroad, which can be used as per one's requirements. While international investments can also be accessed outside of GIFT—through avenues like the $2,50,000 annual Liberalised Remittance Scheme (LRS) or mutual funds—it's useful to be aware of all available options to make informed stocks are listed on the NSE IFSC at GIFT City, though currently this is limited to select US stocks. Indian exchanges like NSE and BSE operate at GIFT City, offering a curated list of leading global stocks. Due to currency conversion, stock prices in INR tend to be on the higher side. Investors cannot purchase these stocks directly; instead, they must invest through an IFSC receipt—an unsponsored depository receipt (UDR), which is a negotiable financial instrument. The UDR represents fractional ownership of the underlying US us consider an example. Say you have a positive view on the Apple stock and want to take exposure. We'll assume the stock costs $199, the unit being US dollar (USD). At a conversion rate of about Rs.84.5 to a USD, the price per share of Apple would be approximately Rs.16,800. Let's say the price of one UDR, with Apple as the underlying asset, at NSE IFSC is $7.95. Using the same conversion, it is approximately Rs.672. Hence, you are buying nearly 4% of one stock of Apple, with commensurate benefits in price appreciation and dividends. This is known as fractional ownership—without owning one full stock, you hold a fraction of it, with proportionate investments through GIFT City are part of the LRS, which has a ceiling of $2,50,000 per financial year. You go to your bank, get your money converted from INR to USD, and remit USD to your broker. There are currently seven brokers, all Indian entities, set up at GIFT City for this purpose and their names are listed on the NSE IX website. There is no compulsion for investments abroad through GIFT City, but the finance hub enables you and guides you for the time, the volume of overseas investments has been steadily rising. According to the RBI, the top categories for remittances are travel, education, maintenance of relatives, and gifts—followed by investments. From a $0.75 billion investment in equity/debt via LRS in 2021-22, the number steadily rose to $1.25 billion in 2022-23, and $1.5 billion in 2023-24. If an Indian investor already has funds abroad and that is routed through GIFT City, it is not counted as part of the LRS limit. In simple words, your LRS limits get freed up every year; hence, your past LRS investments fall within the LRS limit of that year. Every year you start on a fresh plate; a limit of $2,50, investments carry the additional benefit of INR depreciation over the investment horizon. For example, you invest in stocks/bonds/mutual funds abroad when the USD-INR exchange rate was 83. After a few years, at the time of withdrawal, it reaches 86. As you are converting from USD to INR at 86, this depreciation adds to the returns you earned from your investments flowing into India through GIFT City initially come in foreign currency, as the central business district is a foreign jurisdiction. For overseas investors, it is expected to be in USD (or other foreign currency), but it should be the same for Indian/NRI investors as well. Investments of funds into India is according to the financial product mandate as delineated by the product manufacturer. It could be investments into Indian equity or bonds or any asset class, as per the product specifications. The money is converted to INR and enters Indian jurisdiction. As long as funds remain invested in a bank at GIFT City in foreign currency, it is not a remittance to India, for that limited investments in India, there is the risk of currency depreciation over the investment horizon. As stated in the earlier example, if a foreign or NRI investor put in money when the exchange rate was 83, they got commensurate INR for investments. On redemption, at conversion rate of 86, they would get relatively lower quantum of USD.A point to be noted is that India-focused investment avenues cannot be availed by resident Indian investors, since investments into the country from an offshore jurisdiction by resident Indians will tantamount to roundtripping, which is not permitted by the investments abroad, if you have an appropriate wealth manager/investment adviser, you can take guidance on investment opportunities abroad. If your aim is to send money abroad for a goal that is a few years away, such as your child's education, the INR depreciation is an issue. You may send money earlier, in phases, to avoid the depreciation issue, to suitable investment products Author IS A CORPORATE TRAINER AND AUTHOR.
