The 100th Union Budget of India, for the fiscal year 2021-2022 has marked an optimistic outset for the development of the International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City) with some noteworthy announcements.
These steps have been taken with a view to not only make IFSC attractive for foreign investments but also to limit the ‘domestic drain’ of onshore funds in favour of fund jurisdictions such as Mauritius, Cayman Islands, Singapore, etc
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