GIFT City is shifting its focus from becoming a global financial centre to bringing more India-related cross-border financial business back to the country, with the regulator signalling a push to plug gaps in products, expertise and regulation that drive such business overseas.
"If GIFT is able to serve what you always wanted to do from India, then there is no need to create structures outside," Dipesh Shah, executive director of the International Financial Services Centres Authority (IFSCA), said during a panel discussion on the role of international financial services centres in achieving the goals of 'Viksit Bharat 2047'.
