India Opens Doors for Direct Listing on GIFT IFSC to Attract Foreign Investment

India has allowed its companies to list on exchanges registered in the International Financial Services Centre (IFSC) in Gujarat, as part of Prime Minister Narendra Modi's efforts to attract foreign capital. The IFSC, located in the Gujarat International Financial Tech City (GIFT), offers fiscal incentives and a favorable regulatory environment for businesses. This move allows listed and unlisted companies to directly list their shares on the IFSC exchanges, providing them with easier and cheaper access to foreign capital. Previously, Indian companies could only list on foreign exchanges through instruments like depository receipts.