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Foreign portfolio investors (FPIs) are constantly withdrawing from Indian stock markets. Due to this, the Indian markets have come down significantly from their high levels. With this, the evaluation of markets has become quite attractive. Shares of many well-known companies are also trading below their higher levels at this time. To take advantage of this, ICICI Prudential Mutual Fund has formed the International Financial Service Center (IFSC) branch in Gujarat International Finance Tech (Gift) City. A global fund scheme has also been launched in India to raise foreign money.
Many global financial agencies believe that investors can get better returns if they are invested in the Indian market for a long time. The IFSC branch has registered the International Financial Services Center Authority (IFSCA) as “Fund Management Unit (Retail)”. Now this branch will be able to operate different schemes, retail schemes and schemes like exchange-traded funds according to IFSC rules. Its purpose is to work as a bridge between the global investment of mutual funds and India’s investment opportunities.
‘India is going through a period of Badla’
At the inauguration, CFO Naveen Aggarwal of ICICI Prudential AMC Limited said that India is going through a major change at this time. The strong population of the country, rapidly growing urbanization, digital economy and policy reforms are strengthening India’s development journey.
‘Good opportunity to invest in India’
This is a good opportunity for those investors who want to invest in India for a long time. From this new branch in Gift City, we want to give investors a global door to invest in India through equity, fixed income, alternative investment and hybrid options.
The purpose of connecting foreign investors to India
The purpose of the IFSC branch is to make global investors a center to connect India. Using the facilities of the gift city and the international level regulatory structure of IFSCA, the branch will provide easy, transparent and tax-skilled access to India’s capital market.