Attracting NRIs by making it easy for them to invest at GIFT City
03 Jul 2023
SGXNifty turning to GIFTNifty and moving to India will add momentum for GIFT City to become a true International financial centre. Congrats NSE India and Ashish Chauhan
If we could find a way to allow NRIs to easily invest in India through GIFT, I think we can attract a lot of capital. Due to the cumbersome processes, many NRIs are sitting on the fence and not investing in India.
The NRI account opening process today involves attestation of documents from the embassy, opening PIS bank accounts, and tax deduction at source (TDS) is applicable after every sale transaction. If there was a way to relax some of these requirements, GIFT would be much more popular.