Indian asset managers shift overseas business to GIFT City arynews.tv - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arynews.tv Daily Mail and Mail on Sunday newspapers.
Over the past six months, eight out of the top 10 Indian asset managers have either relocated their businesses to GIFT City or are in the process of doing so.
The Indian government is promoting the Gujarat International Finance Tec-City, or GIFT City, as a "gateway for global capital and financial services for the economy" and is trying to attract companies through tax-breaks and other incentives.
Several Indian asset managers are transitioning their offshore operations from global financial hubs like Dubai and Singapore to Gujarat's International Finance Tec-City (GIFT City) for enhanced access to India's capital markets. Backed by the Indian government as a conduit for international capital, GIFT City is luring firms with tax incentives and other perks., Markets News, Times Now