Gift City in Ahmedabad have started making available investment in international stocks for Indian residents. NSE owned IFSC and BSE owned India-INX, both of which operate in GIFT City. However, both have chosen radically different models in allowing resident Indians to invest in foreign stocks. NSE has created unsecured depository receipts in GIFT City, while BSE-owned India INX is simply acting as an intermediary platform (rather than an exchange). Investors in India INX transfer money straight from India to the US or other foreign countries without it ever touching the IFSC itself. What are the two models? The NSE IFSC has […]