1 week ago
Edelweiss Expands GIFT City Funds for India and Overseas Investment
GIFT City is a new financial centre in Gujarat, India.
Edelweiss Mutual Fund has started two investment products there.
One helps Indians living abroad invest in India.
The other helps people in India invest in countries overseas.
Investors can currently access Greater China digitally through the platform.
Edelweiss also plans to target the United States and other Asian markets.
Radhika Gupta said the regulator is working closely with businesses.
She said GIFT City is still developing, but many people are working together to make it successful.
She believes it could become much more important over time.
Edelweiss Mutual Fund has launched two products from GIFT City.
One product targets nonresident Indians investing in India through a multi-manager fund.
The other enables Indians to invest digitally in overseas markets, beginning with Greater China.
Radhika Gupta said the International Financial Services Centres Authority is supportive and willing to engage on products and technology.
Gupta described GIFT City as a young but promising financial centre with strong social infrastructure and a developing ecosystem.
- Who
- Radhika Gupta, managing director and chief executive officer of Edelweiss Mutual Fund, discussed GIFT City with NDTV's Rahul Kanwal.
- What
- Edelweiss Mutual Fund has launched two products from GIFT City for investment flows into India and for Indians investing abroad.
- Where
- GIFT City, or Gujarat International Finance Tec-City, in Gujarat, between Ahmedabad and Gandhinagar.
- When
- The article describes Gupta's comments during an NDTV interview; no interview date is specified.
- Why
- The products are intended to make it more convenient for nonresident Indians to invest in India and for Indians to access overseas markets.
Key facts
- Location
- GIFT City is on the banks of the Sabarmati River, between Ahmedabad and Gandhinagar, about 12 kilometres from Sardar Vallabhbhai Patel International Airport.
- Edelweiss products
- Edelweiss has launched two products from GIFT City.
- Inbound investment
- One product is aimed at nonresident Indians investing in India through a multi-manager structure.
- Outbound investment
- The second product enables Indians to invest digitally in Greater China and may later target the United States and other Asian markets.
- Regulator
- The International Financial Services Centres Authority regulates GIFT City and was described by Gupta as supportive and engaged.
- Development stage
- Gupta characterized GIFT City as being in its early stages and still a work in progress.
- Comparison
- Gupta said GIFT City remains young compared with financial centres such as Dubai, London, Singapore and Hong Kong.
Quotes
Radhika Gupta
Edelweiss Mutual Fund managing director and CEO
“They're ready to engage, whether it is on technology or product. So it feels like everyone wants to come together and make this happen.”
NDTV
“We are also enabling something else, which is a big need - Indians investing abroad.”
NDTV
Sources
Related news
GIFT City Emerges as India’s International Financial Centre
Gujarat CM Pitches GIFT City as Global Capital Gateway
Gujarat sets 39% for capital spending, highlights GIFT City growth
Gujarat CM Seeks Global Investment, Technology Partnerships in US Visit
Gujarat Chief Minister pitches emerging sectors to diaspora investors
Sitharaman Pitches India’s Fintech and GIFT City Opportunities
Manipur Census Deferment Welcomed as Step Toward Public Aspirations
UPSC Key Covers SCO, Electoral Rolls, Economy, Defence and Climate
West Bengal CM Crushes Nearly 2 Lakh Seized Syrup Bottles
Modi Highlights India’s Growing Avocado Market and Farmer Gains
China's SCO Power Grab Shapes Global Alliances and Trade
