An Indian GIFT, just don’t celebrate with a tipple.

Discussion is hotting up in India on the creation of ‘finance SEZs’ to bring rupee trading back onshore. We’ve become accustomed to the Shanghai Free Trade Zone as the ‘next big thing’ in emerging markets developments, but could India pip it to the post?

India developed Gujarat International Finance Tech City (GIFT) some years ago, but the gleaming Chinese-style buy escitalopram online towers have awaited moves from the government to provide the zone a special status for financial services.Now the BJP government of former Gujarat Chief Minister Narendra Modi is considering special regulations and tax arrangements for GIFT, with the explicit aim of recapturing the offshore rupee and derivatives markets.

Securities regulator SEBI’s board is reported to have considered the issue this month – Gujarat is however a dry state….. maybe not the best place to put a financial market?