Non-resident Indians (NRIs) and foreign investors enjoy low tax rates on investments made in the International Financial Services Centre (IFSC) in the Gujarat International Finance Tec-City (GIFT) located at Gandhinagar, Gujarat. Legally, the IFSC is considered a jurisdiction separate from the rest of India, that provides financial services in foreign currency. A large number of Alternative Investment Funds (AIFs) have also sprung up in the GIFT city, catering to NRIs. In this piece, we explain the tax incentives and investment avenues open to NRIs in the GIFT city.
