The National Stock Exchange (NSE), the Mumbai Stock Exchange, and the Delhi Stock Exchange have undoubtedly been the fulcrum of India’s economic undercurrents. However, the country had no state-of-the-art infrastructure that could develop as a global financial center comparable with the international financial hubs such as those in Hongkong, London, and Singapore.
What started as a concept in 2007 acquired a veneer of infrastructure success by 2012. This continued effort inched towards successful traction until 2017 when existing business regulations started trickling in. Since then, the Gujarat International Finance Tec (GIFT) City has been the cynosure of all stakeholders worldwide. The opening up of the NSE International Financial Services Centre (IFSC)has been a signature stroke in terms of confidence for businesses nationwide, allowing investments in stocks listed in the US exchanges.
Please click here to read the full article by Sidharrth Shankar, published in The Tribune.
Sidharrth is the Co-Chair of the Corporate Practice at JSA. He specializes in General Corporate Commercial, Mergers & Acquisitions and Private Equity.