About IFSC

Learn more about IFSC.

International Financial Services Centre (IFSC)

Globally, Financial Centres are locations with an agglomeration of participants in banking, asset management, insurance and financial markets with venues and supporting services for these activities.

The world has witnessed the transformation of New York, London, Singapore, Hong Kong and Tokyo as Global Financial Centres Recently, there has been a spurt of newer Financial Centres in Dubai, Malaysia, Kazakhstan and few other countries.

IFSC in India at Gujarat International Finance Tech City (GIFT City)

The Government of India (‘ operationalized India’s first IFSC in Gujarat at GIFT City in April 2015.

With the launch of the IFSC at GIFT City, the GoI had taken the first step to bring financial services transactions which are relatable to India, back to India.

The core objectives for developing an IFSC in India are outlined below:

  • To realise the vision of the Government of India to emerge as a major economic power by facilitating development of strong base of International Financial Services in the country;
  • To position IFSC as a world class zone for the long term provision of service office/ accommodation and high technological, economical and commercial infrastructure;
  • To bring back financial service experts sitting offshore to the Indian shores and to transform India as a talent hub.

International Financial Services Centre Authority (IFSCA)

The Government of India established International Financial Services Centres Authority in April 2020 under the International Financial Services Centres Authority Act passed by the Indian Parliament.

For the first time, the regulatory powers of four financial services regulators in India, namely, Reserve Bank of India (RBI), Securities & Exchange Board of India (SEBI), Insurance Regulatory Development Authority of India (IRDAI), Pension Fund Regulatory Development Authority of India (PFRDAI), have been vested in IFSCA with respect to regulation of financial institutions, financial services and financial products in the IFSC, making it a unified regulator for the IFSC.

Evolution of IFSCA

  • IFSCA has been established as a Unified Regulator by the Government of India under the IFSCA Act, 2019;
  • The Authority is mandated to develop and regulate Financial Institutions, Financial Services and Financial Products in the International Financial Services Centre (IFSC) in India;
  • To develop and regulate IFSC’s in India, IFSCA has been vested with powers of four sectoral regulators RBI*, SEBI*, IRDAI* & PFRDA*;
  • International Financial Services Centres Authority established in April 2020;
  • IFSCA Assumes powers to develop and regulate financial services, financial institutions and financial products in Oct 2020.

Benefits & Exemptions

Income Tax Holiday

Corporate Income tax Holiday of 10 years out of a block of 15 years

Minimum Alternate Tax @9%++

However, No MAT where domestic company has opted for concessional Tax Regime

No Customs Duty

IFSC Units are exempted from 100% of Customs duty on Goods imported from outside India


On all Input services/Output services to Offshore clients/Other IFSC Units/SEZ Units

No capital Gain Tax
No CTT**/STT**/Stamp Duty
Withholding Tax @4% on interest
paid on Debt Instruments
  • Exemption/Reimbursement of Stamp Duty/Registration Fees on Real Estate Transaction, Aircraft purchase, Financing or refinancing or insurance or reinsurance business.
Exemptions & Incentives as per Gujarat Govt. IT Policy 2022
Capex Support

All eligible IT/ITES Units are entitled to 25% of Eligible CAPEX expenditure subject to max. of 50 Cr. as one time capex subsidy.

Opex Support

All eligible IT/ITES Units are entitled to 15% of annual eligible OPEX expenditure subject to max. of 20 Cr. Per year for a period of 5 years.

Employment Generation Incentive

For every new and unique job created which are hired locally and retained for a minimum period of 1 year by the unit shall be eligible for 50% of One Month CTC upto 50k for Male/60k for Female as one time incentive

Interest Assistance

Interest subsidy at 7% on term loan or actual interest paid whichever is lower with a ceiling of Rs. 1 Cr. Per annum.

Electricity duty exemption
EPF Contribution from State Govt.*