IFSCA’s Global Access Provider Framework: Unlocking Global Investing from India’s GIFT City

The International Financial Services Centres Authority (IFSCA) has introduced the Global Access Provider (GAP) Framework, a major step toward enabling Indian and international investors to access foreign financial markets through India’s own International Financial Services Centre (IFSC) in GIFT City.

In a world where financial borders are increasingly blurred, Indian investors have long sought a safe, transparent, and regulated pathway to trade in global markets. The GAP framework, launched in August 2025, delivers exactly that. It offers a clear rulebook for brokers and intermediaries to connect clients with stocks, bonds, and ETFs listed on leading global exchanges such as the NASDAQ, NYSE, and LSE.

This blog explains how the framework works, what investors can expect, and why it represents a major leap forward for India’s financial ambitions.

What is the Global Access Provider (GAP) Framework?

The GAP framework is a licensing regime that allows brokers and financial intermediaries registered in GIFT City to provide regulated access to foreign financial products. It replaces the fragmented, unregulated routes that investors previously used to build global portfolios.

Under this structure, there are two main types of licensed entities:

Global Access Provider (GAP): A broker-dealer in the IFSC, or a subsidiary of a recognized stock exchange, that connects directly with regulated foreign brokers to execute client trades in global markets.

Introducing Broker (IB): An intermediary within the IFSC that partners with a GAP to offer clients international investing services without maintaining direct foreign relationships.

This two-tier system ensures every participant in the value chain is registered, supervised, and accountable to the IFSCA.

How Does It Work for Investors?

The process of investing globally becomes straightforward and secure under this new model.

For Indian Residents: Residents can invest abroad using the Liberalised Remittance Scheme (LRS) through a licensed GAP. The LRS currently allows individuals to remit up to USD 250,000 per financial year for international investments.

For Non-Residents and Foreign Clients: The framework extends beyond India. Non-Resident Indians (NRIs) and foreign investors can also open accounts with GAPs, strengthening GIFT City’s position as a truly international financial hub.

Fund Security: Investor protection is a central pillar. All client funds must be routed through IFSC Banking Units (IBUs) or IFSCA-authorised Payment Service Providers (PSPs). Brokers are required to maintain a strict separation between client funds and their own operating capital.

Eligible Investments: Clients can invest in:

• Foreign-listed equities (for example, Apple, Tesla, or LVMH)
• Exchange-Traded Funds (ETFs)
• Foreign bonds and debt instruments

Restricted Products: To preserve market integrity, the framework prohibits access to crypto assets and instruments already available on IFSC exchanges, such as certain index or single-stock derivatives.

Investor Protections

Investors under the GAP framework benefit from robust regulatory oversight. Key safeguards include:

• Mandatory KYC and AML compliance under Indian and international standards
• Quarterly reporting and annual audits for GAPs and Introducing Brokers
• Transparent disclosures on fees, risks, and custody arrangements
• All client and transaction data stored within the IFSC for regulatory access

These requirements enhance trust and bring global investment access under a regulated and accountable structure.

Why This Is a Game-Changer

The GAP framework is more than a new regulation; it is a strategic shift that benefits investors, intermediaries, and India’s financial ecosystem.

For Investors:

• Better Protection: Funds are safeguarded through clear custody rules and strong compliance oversight.
• Ease and Access: Investors can now manage domestic and international portfolios in one regulated environment.
• Diversification: Easy access to global equities and bonds helps reduce single-market exposure.

For the Financial Industry:

• New Opportunities: Indian brokers, fintechs, and wealth managers can set up in GIFT City to serve global investors.
• First-Mover Advantage: In October 2025, ViewTrade International IFSC Pvt Ltd became the first company to receive a Global Access Provider license, paving the way for others to follow.

For India’s Global Ambition:

• GIFT City as a Global Gateway: The framework positions the IFSC alongside leading international financial centers like Singapore and Dubai.
• Capturing Outbound Flows: By “onshoring” cross-border investment activity, India can retain more capital within a regulated and transparent ecosystem.

The Future: A Two-Way Street

The Global Access Provider framework represents a significant milestone in India’s journey toward global financial integration. It reflects the confidence of regulators and industry leaders in India’s ability to manage complex cross-border flows responsibly.

For investors, the world of investing just became larger and more accessible. For brokers and fintechs, this is an opportunity to innovate within a regulated environment that promotes transparency, security, and scale.

As more entities receive their GAP licenses in the coming months, GIFT City will strengthen its role as a gateway for global investing, connecting Indian capital with international opportunities.