SC: Submission of Maadhyamik Admit Card Along With Class X Pass Certificate For Verification  ||  SC: Compassionate Aid to Govt Employee’s Family Deductible From Motor Accident Compensation  ||  Supreme Court: Rooh Afza Taxable at 4% As Fruit Drink Under UP VAT Act  ||  Supreme Court: Document isn’t Forged Just Because it’s Not Found in Public Office Records  ||  Delhi High Court: Wards of Disabled Soldiers in Service Not Eligible For Priority-II Reservation  ||  Calcutta HC: Cruelty Claims, Late Medical Certificates Can't Justify Attempt-To-Homicide Charges  ||  Cal HC: Deity’s Title Cannot be Challenged by Adverse Possession Claims Against its Sebait/Manager  ||  Madras High Court: Every Prisoner Has the Right to Periodic Medical Checkups under Article 21  ||  Orissa High Court: Writ Courts Can’t Decide Child Custody Unless It’s Illegally Retained  ||  Supreme Court: Detailed Appreciation of Evidence is Not Allowed at the Bail Stage    

Committee of Experts releases report on ‘Onshoring the Indian Innovation to GIFT IFSC’ - (25 Aug 2023)

Commercial

A Committee of Experts to ‘Onshoring the Indian Innovation to GIFT IFSC’ constituted by International Financial Services Centres Authority (IFSCA) submitted its report. The main focus areas of the committee were directed towards understanding the reasons for shifting of Indian startups outside India and suggestions to avoid externalization of startups in the future and also to persuade startups that are presently externalized to redomicile back.

The committee has provided its recommendation that are critical to the development of GIFT IFSC as a global Fintech Hub, besides suggesting measures to encourage new Fintechs to have global outlook to set up their commercial presence in GIFT IFSC. Additionally, the committee has identified challenges and recommended measures for the development of the International Innovation Hub at GIFT IFSC. The report has suggested various measuresto be undertaken by various stakeholders including ministries, regulatory bodies and others in implementing the idea of onshoring the Indian innovation to GIFT IFSC.

The Committee hasrecommended aligning the tax and regulatory laws within the IFSC with international best practices, to create an environment that actively incentivizes and supports holding company structures. The committee has also examined in the report several push-pull factors are responsible for Indian founders flipping to overseas jurisdictions.The Committee believes that the insights presented in the report will help drive dialogue in the ministry and will contribute to achieving Hon’ble Prime Minister’s grand vision of making India a 5 trillion-dollar economy and a global powerhouse by 2024-25.

Tags : REPORT   SUBMISSION   INDIA INNOVATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved