SC: Valid Bareboat Charter Termination Extinguishes Demise Charter, Vessel Arrest Vacated  ||  SC: Absence of Train Ticket No Ground to Deny Compensation for Passenger’s Death  ||  Patna HC: Routine FIR Involvement alone cannot Deny Arms Licence without Safety Threat  ||  Chhattisgarh HC: WhatsApp Chats Proving Mental Cruelty cannot be Ignored on Evidence Grounds  ||  Delhi HC: Foreign Travel Restrictions must not Obstruct Pregnant Foreigner's Medical Care  ||  MP High Court: Article 227 Cannot Be Invoked to Quash Wife’s Conjugal Rights Proceedings  ||  Kerala High Court Issues Directions on Driver Profiling, Bus Regulation and Road Safety  ||  Delhi HC: Prior Permission for Foreign Travel Unjustified When Accused Was Never Arrested  ||  Air India Penalised Rs. 50K Over De-boarding Disabled Woman and Wheelchair Damage  ||  Delhi HC: Muslim Personal Law cannot Shield Sex with Minor Wife from POCSO Case    

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