GIFT City - IFSC - International Funds
Invest globally,
from inside India.
USD-denominated mutual funds. Zero capital gains tax. Regulated by IFSCA - from India's only operational IFSC, in GIFT City, Gujarat.
Gandhinagar, Gujarat
IFSCA-regulated
framework
India's first operational international financial centre.
GIFT City - Gujarat International Finance Tec-City - is India's only International Financial Services Centre (IFSC), located in Gandhinagar, Gujarat. It is a purpose-built financial district where international financial rules apply, funds are settled in USD, and transactions occur outside the standard Indian regulatory perimeter. Think of it as a piece of Singapore or Dubai, except it sits squarely within India's legal and regulatory framework.
The IFSC is governed by the International Financial Services Centres Authority (IFSCA), an independent regulator established by Parliament in 2020. IFSCA's framework is modelled on global best practices from leading jurisdictions like Singapore, Mauritius, and the DIFC in Dubai - but with full Indian oversight at every level. Every fund operating from GIFT City is IFSCA-registered, audited, and subject to periodic regulatory review.
Indian residents can invest through the Liberalised Remittance Scheme (LRS), with an annual ceiling of $250,000 per person. NRIs can invest directly from their foreign currency accounts without LRS. Unlike investing through foreign platforms, GIFT City investments are fully compliant, fully reported to regulators, and do not require complex foreign asset disclosures beyond standard Schedule FA in your ITR.
The fund managers here are names you already know - Mirae Asset, Kotak, ICICI Prudential, Nippon India - operating dedicated IFSC arms from within GIFT City. They bring AMC-grade research and risk management to dollar-denominated mandates tracking global indices, sector themes, and USD short-duration debt. The result: global exposure, Indian management, domestic regulatory comfort.
Why the numbers look very different here.
GIFT City funds receive these concessions because they operate within a Special Economic Zone under a distinct legislative framework. The Income Tax Act explicitly exempts income earned by IFSC units from several levies that apply to domestic funds. This is deliberate government policy - a structural incentive designed to make India's IFSC competitive with Singapore, Mauritius, and the DIFC. The exemptions are not loopholes; they are written directly into the statute.
The contrast is material when you run the numbers. A domestic equity fund held for under 12 months carries a 20% short-term capital gains liability. Hold the same global equity exposure through a GIFT City fund and your capital gains obligation currently stands at zero. On a 10-year horizon with compounding, that difference in tax drag can translate into a meaningfully larger corpus at exit.
For LRS investors, there is no TDS deducted at source on redemptions. However, foreign assets held under LRS must be declared in Schedule FA of your ITR every year. Always confirm your personal tax treatment with a qualified CA before investing, particularly if you hold foreign assets across multiple jurisdictions.
Tax treatment is subject to IFSCA regulations and applicable Indian tax laws. Benefits may change with future legislation. This is not tax advice - consult a qualified CA or tax advisor before investing.
| Fund name | Category | 3Y return | Min. invest | Status |
|---|---|---|---|---|
Mirae Asset NYSE FANG+ ETF FoF Equity Mirae Asset - GIFT City IFSC | Global tech equity | +22.4% | $1,000 | Coming soon |
Kotak MSCI World Index FoF Equity Kotak Mahindra - GIFT City IFSC | Global diversified | +17.8% | $1,000 | Coming soon |
ICICI Pru US Bluechip Equity FoF Equity ICICI Prudential - GIFT City IFSC | US large cap | +19.1% | $500 | Coming soon |
Nippon India Short Duration Debt FoF Debt Nippon India - GIFT City IFSC | USD short debt | +6.2% | $1,000 | Coming soon |
Returns are illustrative based on category averages. Past performance is not indicative of future results. Actual fund returns will vary.
You'll need a dedicated IFSC account - we'll guide you to a partner bank. Takes about 3 days. KYC uses your existing documents.
Fund your IFSC account in USD or via LRS (Liberalised Remittance Scheme). Annual LRS limit is $250,000 per person.
Choose a fund, set the amount, confirm. Redemptions settle back to your IFSC account in 3-5 business days.
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Ramaniya is an AMFI-registered mutual fund distributor. GIFT City funds are regulated under the IFSCA (Fund Management) Regulations, 2022. Mutual fund investments are subject to market risks - please read all scheme-related documents carefully before investing. USD-denominated returns carry foreign exchange risk. Tax benefits are subject to applicable laws and may change. This page is for informational purposes only and does not constitute investment advice. ARN: XXXXXX.