Gift City mulls trade in Indian shares via depository receipts. What it means for investors2 min read 15 May 2023, 11:49 PM IST
The UDR proposal needs govt nod, and onshore regulators can provide their opinion to ministries on it
New Delhi: The International Financial Services Centre Authority (IFSCA), the regulatory body overseeing GIFT City’s international financial services centre, is considering permitting unsponsored depository receipts (UDRs) for Indian shares, two people aware of the matter said. This move would offer investors the opportunity to invest in Indian stocks and avail of tax benefits.
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