GIFT City
India's international financial services centre in Gujarat, where transactions occur in foreign currency under a separate regulator.
How it is identified
Test: the entity or transaction is located in the International Financial Services Centre and regulated by the IFSC Authority
Unit
qualitative
In depth
GIFT City operates as an offshore jurisdiction within India: transactions are denominated in foreign currency, a separate authority regulates it, and a distinct tax regime applies with several exemptions designed to attract business that would otherwise go to Singapore or Dubai. Its most visible product is GIFT Nifty, which migrated from Singapore in 2023 and provides near-continuous trading in Nifty futures across time zones. It also hosts foreign currency bond listings, aircraft leasing, and funds set up for non-resident investors. For a resident Indian investor its direct relevance is limited, though it affects Indian markets through the extended-hours pricing of Nifty futures.
Worked example
GIFT Nifty trades for roughly 21 hours a day. Overnight moves there are watched as an indication of where the Indian pre-open auction may clear, which is a price in another session rather than a forecast.
Illustrative figures, chosen so the arithmetic is easy to follow. Not a live price and not a valuation of any company.
Educational reference only
This entry explains what “GIFT City” means. It is not investment advice and not a recommendation to buy or sell any security. Any numbers above are illustrative, not live prices, and nothing here predicts price direction or rates a stock. Consider your own circumstances and consult a SEBI-registered investment adviser before acting.