Standard Chartered Gets Approval for GIFT City Wealth Services

Standard Chartered received in-principle approval from the International Financial Services Centres Authority (IFSCA) on 6 August 2026 to distribute capital market and wealth management products from Gujarat International Financial Tec-City (GIFT City). The bank plans to roll out retail wealth management products in the coming months through the GIFT City International Financial Services Centre (IFSC).

GIFT City and IFSC Framework

GIFT City is India’s first operational smart city and an International Financial Services Centre located in Gandhinagar, Gujarat. The IFSC framework allows financial institutions to offer services in foreign currency and to serve cross-border clients from within India.

Wealth Management Products and Services

Wealth management covers investment advisory, portfolio construction, capital market products, and related financial planning services. Standard Chartered plans to launch its Signature CIO Funds from GIFT City, followed by additional wealth products for retail clients.

Foreign Banks in GIFT City

Standard Chartered became the first foreign bank to begin operations in GIFT City in 2020. The bank currently serves more than 600 corporate and institutional clients from the hub through wholesale banking services.

Important Facts for Exams

• IFSCA is the unified regulator for financial services in India’s International Financial Services Centres.
• GIFT City is located in Gandhinagar district in Gujarat.
• HSBC is among the foreign banks authorised to offer retail wealth management solutions from GIFT City.
• GIFT City offers a tax regime that includes a 20-year tax holiday for eligible units under specified conditions.

Regulatory and Market Context

Capital market products include mutual funds, portfolio management products, and other investment instruments linked to securities markets. Retail wealth management from GIFT City allows financial firms to serve clients through an offshore-style platform within India.