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ICICI Bank and Visa unveil India first USD debit card for GIFT City NRIs with Visa Infinite benefits

ICICI Bank and Visa unveil India first USD debit card for GIFT City NRIs with Visa Infinite benefits

ICICI Bank, with Visa, has launched India’s first USD-denominated debit card issued from its IFSC Banking Unit at GIFT City. The card is linked to ICICI Bank’s USD Global Savings Account and lets NRIs spend their US dollar balance globally at ATMs, POS terminals and e-commerce. The offering runs on the Visa Infinite platform and includes security controls such as EMV chip compliance, channel enable-disable, and daily transaction limits, plus Visa Infinite privileges and curated brand and travel benefits.

Summarised by Beize from a story on IndianWeb2 on 15 May 2026
Radhika Gupta warns against chasing returns with overseas investing and compares portfolios to an Indian thali

Radhika Gupta warns against chasing returns with overseas investing and compares portfolios to an Indian thali

At the Groww India Investor Festival 2026, Edelweiss MF CEO Radhika Gupta urged investors to treat global diversification as long-term balance, not a short-term return chase. Speaking at “Beyond Bharat: Should your portfolio have a passport?”, she likened an allocation to an Indian thali—stuffed with variety, not extremes. The panel highlighted that themes like AI, semiconductors, and hyperscale cloud remain underrepresented in India, while access via GIFT City and LRS is improving.

Summarised by Beize from a story on The Economic Times on 14 May 2026

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Akasa Air creates new GIFT City firm to unlock cheaper aircraft financing

Akasa Air creates new GIFT City firm to unlock cheaper aircraft financing

Akasa Air has set up a new entity at Gujarat’s GIFT City to strengthen its aircraft financing and leasing operations. The company, Akasa Air Leasing IFSC Private Limited, is expected to help the airline access better funding terms while improving flexibility and lowering costs through an IFSC framework.

Summarised by Beize from a story on The Economic Times on 8 May 2026
India weighs fractional aircraft ownership and treating planes as infrastructure to turbocharge aviation leasing

India weighs fractional aircraft ownership and treating planes as infrastructure to turbocharge aviation leasing

India is working on a policy that could enable fractional aircraft ownership while also considering treating aircraft as infrastructure assets. Aviation Minister Ram Mohan Naidu said the approach is meant to make financing and leasing easier, strengthening GIFT City’s push to become an aviation leasing and financing hub comparable to Dublin, Singapore and Dubai.

Summarised by Beize from a story on The Economic Times on 8 May 2026
SEBI eyes online bond platforms to sell overseas debt and boost GIFT City globally

SEBI eyes online bond platforms to sell overseas debt and boost GIFT City globally

SEBI has proposed allowing online bond platforms to offer overseas-listed debt products regulated under the International Financial Services Centres Authority (IFSCA). The plan is designed to widen retail and investor access to foreign debt while strengthening Gujarat’s GIFT City as an international finance hub. SEBI also wants these platforms to sell tax-saving bonds issued by state-owned companies.

Summarised by Beize from a story on The Economic Times on 5 May 2026
Adani Arcelor firms move treasury operations to GIFT City aiming to rival Singapore and Dubai

Adani Arcelor firms move treasury operations to GIFT City aiming to rival Singapore and Dubai

Adani, Arcelor and other major companies including Bharti Airtel, Genpact and ZF Friedrichshafen are setting up treasury operations in India’s GIFT City. The tax-neutral finance zone is expected to deliver cheaper funding and lower taxes on dividend remittances. Seventeen corporate treasuries are slated to start within three months as India seeks to compete with Singapore and Dubai for global capital management.

Summarised by Beize from a story on The Economic Times on 5 May 2026

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Pixxel and Sarvam plan an orbital data center satellite for AI in space

Pixxel and Sarvam plan an orbital data center satellite for AI in space

Spacetech firm Pixxel is teaming up with AI startup Sarvam to launch an orbital data center satellite, aiming to deliver computing power in space. The move signals how quickly AI and space are converging into new infrastructure plays. The dispatch also notes fintech interest intensifying in India’s Gift City as firms look for growth and regulatory clarity.

Summarised by Beize from a story on The Economic Times on 5 May 2026
Gift City attracts digital payment firms seeking PSP licenses to serve global travelers and trade

Gift City attracts digital payment firms seeking PSP licenses to serve global travelers and trade

Cross-border digital payment firms are eyeing India’s Gift City as a growth hub, applying for Payment Service Provider (PSP) licenses to reach international travelers and businesses. Razorpay, Cashfree, and Skydo are exploring multi-currency wallet offerings and easier import export payments, aiming to build on existing RBI authorizations while expanding their offshore style services.

Summarised by Beize from a story on The Economic Times on 5 May 2026
Vested Finance gets IFSCA GAP license making US stock investing safer for Indians via GIFT City

Vested Finance gets IFSCA GAP license making US stock investing safer for Indians via GIFT City

Vested Finance has moved under the IFSCA GAP framework, enabling Indian investors to access US stocks through GIFT City. The shift brings an additional Indian regulatory layer, including client fund segregation and more structured onboarding. For investors, this aims to reduce ambiguity around how cross-border trades are handled and improve clarity on protections.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
Budget 2026 extends tax holiday to supercharge GIFT City’s global finance appeal

Budget 2026 extends tax holiday to supercharge GIFT City’s global finance appeal

Budget 2026’s proposed tax holiday extension for GIFT City aims to make India’s IFSC more competitive globally. Analysts argue that tax certainty, along with rationalised dividend provisions, can improve investor confidence and encourage deeper onshoring. The move is expected to strengthen GIFT City’s ability to attract international finance business compared with rival centres.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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GIFT City IPO dream hits a snag as first withdrawal sparks KYC and investor doubts

GIFT City IPO dream hits a snag as first withdrawal sparks KYC and investor doubts

GIFT City’s first IPO withdrawal, tied to XED Executive Development’s ₹110 crore offering, is raising questions about how smoothly issuers can list in India’s international finance hub. KYC hurdles, limited institutional participation, and restrictions on domestic investors are pushing potential companies to rethink timing and plans—turning a major growth narrative into a cautionary test case.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Investors turn to GIFT City as West Asia tensions spark Dubai diversification pressure

Investors turn to GIFT City as West Asia tensions spark Dubai diversification pressure

As conflict-related volatility rattles investor sentiment in the Middle East, many are looking beyond Dubai for capital and wealth management. The search is turning toward GIFT City, where investors see regulatory stability and proximity to fast-growing markets like India. The shift highlights how geopolitical risk is reshaping cross-border portfolio planning and where funds may park next.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Gold trade volumes collapse in GIFT City as rules on imports keep flipping

Gold trade volumes collapse in GIFT City as rules on imports keep flipping

Gold volumes in GIFT City are plunging even as prices rise, according to reports. In FY26, frequent changes in allocation rules and legal disputes over Tariff Rate Quota under the UAE CEPA have disrupted trading at the bullion exchange. Market participants say the uncertainty around import quota mechanics is deterring orders and slowing liquidity when it’s needed most.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
IFSCAs video based KYC for NRIs set to launch by November, ditching paper and streamlining account opening

IFSCAs video based KYC for NRIs set to launch by November, ditching paper and streamlining account opening

IFSCAs International Financial Services Centres Authority plans to roll out video-based KYC guidelines for NRI customers by November, aiming to make account opening and investing in GIFT City simpler. The move is expected to reduce or eliminate paper applications, while a faceless authentication system is being developed in coordination with UIDAI and the RBI.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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GIFT City added 70 fund managers but hiring pipeline looks thin for talent

GIFT City added 70 fund managers but hiring pipeline looks thin for talent

GIFT City has surged in fund-management presence, with over 70 new entities setting up shop last year and the total reaching 202. The puzzle now is workforce readiness: where will the qualified professionals to run, manage, and comply with these operations come from as the ecosystem expands at pace?

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
GIFT City plans bankruptcy remote SPVs to shield aircraft lessors after Go First shock

GIFT City plans bankruptcy remote SPVs to shield aircraft lessors after Go First shock

After the Go First collapse exposed how hard it can be for aircraft lessors to recover planes quickly, a new consultation paper proposes “bankruptcy-remote” SPVs in India’s GIFT City. The framework is designed to make repossession easier if an airline fails, potentially reducing dependence on offshore hubs like Ireland and reshaping leasing deal terms.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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