In a significant move for India’s financial sector, a new global investment platform has been introduced at GIFT City, allowing Indian investors to easily invest in international equities. The platform, launched by NSE International Exchange, provides access to nearly 30 global markets for both retail investors and non-resident Indians (NRIs). This initiative aligns with Prime Minister Narendra Modi’s vision of making India a global financial hub and has been spearheaded by Gujarat Chief Minister Bhupendra Patel.
V Balasubramaniam, the Managing Director and CEO of NSE IX, hailed the platform’s launch as a major achievement for Gujarat and the country. He emphasized that the platform would streamline overseas investing for Indian investors, making it simpler and less restrictive than before. One notable feature of the platform is fractional investing, allowing users to buy portions of high-value global stocks like Apple Inc. and Alphabet Inc., eliminating the need to purchase entire shares.
The platform offers a dedicated mobile application for users to open an account within seconds, providing quick access to investing in global stocks. Investors can transfer funds to the NSE IX bank account in GIFT City, with their buying power reflecting instantly to start investing. Balasubramaniam assured that the entire process would be regulated and transparent, with investments made under the Liberalised Remittance Scheme framework of the Reserve Bank of India, permitting individuals to invest up to $250,000 abroad annually.
Under the ‘Global Access’ platform of NSE IX, Indian investors are connected to international markets as an infrastructure provider and aggregator. Initially focusing on US-listed stocks, the platform plans to expand to markets in the UK, Japan, and parts of Europe soon. This move is expected to enable investors to diversify their portfolios globally, a previously limited option that often required routing investments through financial hubs like Dubai or Singapore.
