Pivoting to provide a conducive environment for global investors, India’s first international stock exchange platform, India International Exchange (INX) launched trading in USD-denominated BSE Sensex derivatives at GIFT International Financial Services Centre (IFSC).
A subsidiary of Bombay Stock Exchange (BSE), India INX’s launch is expected to facilitate greater participation from international traders and investors and foster deeper integration of India’s financial market with the global financial system with its 22-hours trading window and further offerings.
Also ReadNuvama reaffirms Buy on Vedanta. 3 reasons why…
India INX CEO & MD Vijay Krishnamurthy briefed the media about the product offerings, stating, “India INX, India’s first international exchange at GIFT IFSC, continues to expand its product offerings, providing global investors with a wide range of investment opportunities in a regulated, tax-efficient and technologically advanced environment. With the launch of BSE Sensex derivatives, India INX reinforces its commitment to deepening liquidity, enhancing market access, and positioning GIFT IFSC as a premier global financial centre.”
He also highlighted how GIFT City provides significant cost advantages to investors and traders due to zero Securities Transaction Tax (STT), Stamp Duty and GST. Additionally, capital gains tax on exchange-traded derivatives is not applicable for non-resident investors in India.
Currently, India INX has 61 members, of which 44 are active. In talks with several international companies, the platform expects the F&O launch to bolster non-resident investor confidence in the Indian financial market without the added complexities of red tape and currency conversion.
Also ReadMarkets close lower: Nifty below 23,400, Sensex slides over 300 points; L&T, Tata Motors among losers
In attendance at this launch were Gujarat CM Bhupendra Patel, along with CEO & MD of BSE, Sundararaman Ramamurthy, who commented, “The introduction of BSE Sensex derivatives marks a significant milestone in strengthening India’s position as a global financial hub. In the last 20 months, you have seen that BSE Sensex derivatives have traded around 40 billion contracts. As one of the most recognized indices representing the Indian equity market, BSE Sensex derivatives will offer international investors an efficient avenue to participate in India’s growth story.”
» Read More
