Capital markets and market infrastructure
GIFT IFSC has its own stock exchanges, clearing corporations, depositories and a bullion exchange, with intermediaries regulated by IFSCA.
What sits here
- Exchanges: India International Exchange (India INX) and NSE International Exchange (NSE IX).
- India International Bullion Exchange (IIBX) and vaults.
- Brokers, clearing members, custodians, investment advisers, distributors, credit rating agencies and other intermediaries.
- Listing of equity and debt, including direct listing of Indian public companies.
Guides in this section
Exchanges, clearing corporations and depositories
Market infrastructure institutions in GIFT IFSC (stock exchanges, clearing corporations and depositories) are regulated under the IFSCA (Market Infrastructure Institutions) Regulations, 2021, amended to 1 November 2024.
Read the guide →Capital market intermediaries
Brokers, clearing members, custodians, depository participants, investment advisers, distributors and other intermediaries register with IFSCA under the IFSCA (Capital Market Intermediaries) Regulations, 2025.
Read the guide →Unified registration for multiple activities (Master Key)
IFSCA allows a single entity to hold registrations for several related capital-market activities. Plan the activities together so that the people, capital and systems serve all of them.
Read the guide →Credit rating agencies and ESG ratings providers
Credit rating agencies and ESG ratings providers can register in GIFT IFSC under Schedule I of the CMI Regulations 2025, with a master circular for CRAs of 5 August 2025.
Read the guide →Listing equity and debt on IFSC exchanges
Companies raise capital on GIFT IFSC exchanges under the IFSCA (Listing) Regulations, 2024 (amended to 14 October 2025), listing equity, debt, depository receipts and other securities.
Read the guide →Direct listing of Indian companies
Indian public companies can list their equity shares directly on IFSC exchanges. GIFT IFSC is a permissible jurisdiction, with India INX and NSE IX as permissible exchanges.
Read the guide →Green, social, sustainability-linked and transition bonds
Green, social, sustainability-linked and transition bonds can be listed in GIFT IFSC under the Listing Regulations, with disclosure and external review requirements.
Read the guide →Global Access and remote trading
Global access arrangements let IFSC brokers route client orders to overseas exchanges, giving investors in and through the IFSC access to foreign markets.
Read the guide →Bullion: trading, clearing and vaults
India International Bullion Exchange (IIBX) in GIFT IFSC provides trading, clearing and vaulting for bullion, under the IFSCA (Bullion Market) Regulations, 2025.
Read the guide →How non-resident investors access IFSC markets
Non-resident investors access IFSC markets through IFSC-registered brokers and custodians, transacting in foreign currency.
Read the guide →Authorities and further reading
The official instruments and pages this guide relies on. Check the current version on the issuer's site before acting.
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