SC: Daughter Doesn't Lose Ties With Natal Family After Marriage, Such Stereotype is Unconstitutional  ||  SC: Limitation For Filing S.34 Appeal Starts From Disposal of S.33 Application, Allowed or Rejected  ||  SC: In Cases of Drug Trade Threats to the Nation, Sovereignty Prevails over Personal Liberty  ||  Delhi HC: Plaintiff Can Obtain a Refund of Court Fees After an IBC Resolution Plan “Settlement”  ||  Ker HC: Default Bail is Available if Final Report is E-Filed After 5 Pm on Last Statutory Day  ||  J&K&L HC: NDPS Act Provisions Extending Investigation Time Apply to Narco-Terror Cases under UAPA  ||  Supreme Court: Courts Have Sometimes Failed Arbitration, With Interference Curing No Disease  ||  Supreme Court: Co-Heir Cannot Sell Other Heirs' Shares as Karta After Intestate Succession  ||  SC: Casual Labourers With Temporary Status are Eligible For Pension Even Without Regularisation  ||  Supreme Court: High Courts Must Record the Nature of Crime and Allegations While Quashing FIRs    

Constitution of an expert committee to 'Onshore the Indian Innovation to GIFT IFSC'- (Press Information Bureau) (21 Mar 2023)

MANU/PIBU/1159/2023

Commercial

The Indian startup ecosystem is the third largest startup ecosystem in the world, boasting an impressive 115 unicorns (billion-dollar enterprises). Indian startups raised $44 billion in 2021, with over $ 33 billion going towards deals worth more than $5 million. Many Indian startups are domiciled outside India - despite having the majority of their market, personnel and founders in India. These "externalized" or "flipped" startups constitute a large number of India's unicorns.

In order to better understand the nuances from regulatory, tax, legal and other perspectives and identify measures required to make India (GIFT IFSC) the preferred location, IFSCA has constituted an expert committee to formulate a roadmap to onshore the Indian innovation to GIFT IFSC. This committee will be chaired by Shri G. Padmanabhan, former Executive Director, Reserve Bank of India. The committee includes representatives from leading Venture Capital funds, Startups, Fintechs, Law firms, Tax firms and other domain experts.

The terms of reference for the committee include measures required to encourage the Indian Fintech / Startups domiciled abroad to relocate to GIFT IFSC. Further, the committee would also identify issues that are critical to the development of GIFT IFSC as a global Fintech Hub, besides suggesting measures to encourage new Fintechs having global outlook to setup their commercial presence in GIFT IFSC. Additionally, the committee would also identify challenges and recommend measures for the development of International Innovation Hub at GIFT IFSC. The committee is expected to submit its recommendations to IFSCA within three months.

Tags : CONSTITUTION   EXPERT COMMITTEE   GIFT IFSC'  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved