The Office of the Administrator at the India International Financial Services Centres Authority (IFSCA) has concluded a structured series of Open House sessions for regulated entities aimed at clarifying compliance requirements under the Special Economic Zone (SEZ) framework within GIFT IFSC and surfacing practical operational challenges. The programme, which began on 6 January 2026, comprised 14 sessions with participation from more than 230 entities across sectors including banking, insurance, fund management, capital markets, leasing, payment services, TechFin and ancillary service providers. Discussions covered procedural and documentation requirements, approval timelines, periodic reporting obligations, and compliance issues across the regulated entity lifecycle, alongside related obligations under IFSCA regulations and cross-regulatory concerns addressed in coordination with relevant divisions. IFSCA also noted that, following the Central Government notification dated 28 February 2024, the Administrator (IFSCA) is exercising the Development Commissioner’s powers under the SEZ Act, 2005, and that the sessions helped identify areas where further procedural rationalisation may be considered.
India International Financial Services Centres Authority 2026-03-09
India International Financial Services Centres Authority concludes 14-session open house series on SEZ compliance in GIFT IFSC
The India International Financial Services Centres Authority has concluded 14 Open House sessions with over 230 regulated entities to clarify compliance requirements under the Special Economic Zone framework in GIFT IFSC and address operational challenges. Discussions focused on procedural and documentation requirements, approval timelines, reporting obligations, and cross-regulatory issues, and identified areas for potential procedural rationalisation as the Administrator exercises Development Commissioner powers under the Special Economic Zone Act, 2005.