GIFT City struggles to attract foreign investors due to tax compliance
According to Sachin Sawrikar of Artha Bharat, international investors are still hesitant to use GIFT City funds. This is largely due to the mandatory Indian tax paperwork, such as PAN requirements, needed for onboarding. Sawrikar noted that while some fund managers are looking at foreign jurisdictions instead, Indian investors looking to invest abroad find GIFT City quite beneficial. Additionally, the use of feeder structures based outside of India could potentially move primary investment operations away from the hub.
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