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GIFT IFSC Snags 65% of ECBs with Smooth Tax Benefits

GIFT IFSC Snags 65% of ECBs with Smooth Tax Benefits

Yo, GIFT IFSC is straight killin' it, scoopin' up 65% of those external commercial borrowings this year, all from the fly Gujarat International Finance Tec-City. With a cool $27.5 billion raised, and $18 billion cruisin' through GIFT, it’s the go-to spot for them global banks, all while enjoyin' a sweet 10-year tax holiday. That’s how you roll, baby!

Quick rundown

  1. GIFT City now channels nearly two-thirds of India's ECBs.
  2. IBUs in GIFT City lend in foreign currencies to Indian firms.
  3. GIFT City offers significant tax and regulatory advantages.
  4. Environmental and social bonds are gaining traction in GIFT City.
  5. GIFT City's tax holiday extended to 20 years boosts ECB activity.

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