- IFSC’s unified regulation, tax edge and digital rails position GIFT City as rival to Singapore, Dubai
- USD-denominated investments, seamless repatriation make NRI investing “hassle-free”
- Tech equities, global funds and ETFs drive investor appetite across asset classes
- Younger NRIs fuel surge; Policybazaar blends wealth creation with protection solutions
RAJENDRAN G MUDALIAR
AHMEDABAD, APR 24
In a decisive push to redefine global investing for Indians abroad, Policybazaar is scaling up its footprint in GIFT City, positioning India’s International Financial Services Centre as a future-ready global gateway for NRI wealth creation and risk management.
At the heart of this transformation lies a potent mix of regulatory clarity, tax efficiency and cutting-edge digital infrastructure—factors that are steadily placing GIFT City alongside global financial hubs like Singapore and Dubai. With a single unified regulator (IFSCA), liberalised norms, tax exemptions such as benefits under Section 10(10D), and a fully tech-enabled ecosystem, GIFT City is emerging as a seamless, globally competitive financial destination.
Addressing the media, Bimal Menon, Principal Officer, Policybazaar’s GIFT City Branch, said, “GIFT City now contributes to more than 50% share of our NRI customer base. It is gradually becoming the preferred destination for global Indian investors. Among NRIs, GIFT City is gaining strong momentum as a preferred investment hub. This shift is driven by benefits including tax-free gains u/s 10(10D), availability of US Dollar denominated market linked insurance products, seamless repatriation, and a single unified regulator. GIFT City represents a future-ready ecosystem that brings together technology, sustainability, and globally benchmarked urban development standards.”
Why GIFT City is a True Global Alternative
Unlike traditional offshore routes that often involve complex compliance, multiple jurisdictions and high entry barriers, GIFT City offers a plug-and-play model—digital onboarding, remote KYC, direct investment via NRE or overseas accounts, and no physical presence required. This significantly reduces friction for NRIs while ensuring regulatory transparency and faster execution.
Lakshit Mahajan, Head of NRI Investment Business, Policybazaar, said, “We are elated to be present in GIFT City to make global investing easy and efficient for our NRI customers. As India’s first International Financial Services Centre, GIFT City offers world-class infrastructure, flexible rules and tax advantages like none other. With digital onboarding, access to global investments, currency diversification and seamless cross-border financial planning, it is becoming a preferred destination and a credible alternative to global financial hubs like Singapore and Dubai.”
Hassle-Free Dollar Investing for NRIs
For NRIs, the biggest draw is the ability to invest in US Dollar-denominated assets—including global equity funds, Gold and Silver ETFs—while enjoying easy repatriation and DTAA benefits, reducing double taxation risks. Compared to conventional offshore investing, GIFT City offers greater convenience, lower compliance burden and integrated financial planning on a single platform.
Where Investor Interest is Peaking
Early trends indicate strong traction in global equities—especially tech-driven sectors, alongside diversified funds and ETFs that offer currency hedging and portfolio stability. Fixed income and alternative assets are also gaining ground, particularly among risk-balanced investors seeking long-term returns.
Rise of the Young NRI Investor
A significant behavioural shift is underway, with nearly two-thirds of Policybazaar’s NRI investors falling in the 28–45 age group. This younger cohort is more digitally savvy, globally aware and inclined towards diversified, dollar-based portfolios. Policybazaar is tapping into this trend with intuitive digital platforms, flexible premium options and goal-oriented investment solutions.
Beyond Wealth: Integrating Protection
Going beyond pure investment, Policybazaar is embedding insurance and reinsurance solutions into long-term planning. Features such as waiver-of-premium benefits, life cover and USD payouts ensure financial continuity even during unforeseen events. On the reinsurance front, GIFT City’s liberal framework is attracting global players, enhancing risk pricing, capital deployment and product innovation in India’s insurance ecosystem.
As cross-border finance enters a new era, GIFT City is fast becoming the go-to destination for NRIs seeking a blend of global exposure, regulatory ease and financial security—with Policybazaar at the forefront of this transformation.
