The Office of the Administrator within the India International Financial Services Centres Authority (IFSCA) has released an FAQ booklet on Special Economic Zone (SEZ) compliance for units in GIFT-IFSC, aiming to improve understanding of the SEZ Act and Rules, reduce compliance burden, and increase regulatory clarity. The booklet covers SEZ requirements across the full lifecycle of an IFSC unit, from applying for an SEZ letter of approval through to exit. The guide sets out practical explanations of procedures, documentation requirements, and approval timelines. Its release is positioned alongside the consolidation of SEZ administrative powers for IFSC units under an IFSCA-nominated “Administrator (IFSCA)”, following a Government of India gazette notification on 28 February 2024 and an IFSCA public notice on 7 March 2024 that designated Executive Director Praveen Trivedi as Administrator (IFSCA), so entities can approach IFSCA for approvals under both the SEZ Act and the IFSCA Act.
India International Financial Services Centres Authority 2025-03-01
India International Financial Services Centres Authority Administrator publishes SEZ compliance FAQ booklet for GIFT-IFSC units
The India International Financial Services Centres Authority (IFSCA) issued an FAQ booklet to clarify Special Economic Zone (SEZ) compliance for units in GIFT-IFSC, aiming to reduce compliance burdens and enhance regulatory clarity. It details SEZ requirements throughout an IFSC unit's lifecycle, including procedures and documentation. This follows the consolidation of SEZ administrative powers under an IFSCA-nominated Administrator, allowing entities to seek approvals under both the SEZ Act and the IFSCA Act.