IFSC sector
Capital Markets
Two international exchanges - NSE IX and India INX - operate from GIFT IFSC for close to 22 hours a day in foreign currency, alongside clearing corporations, depositories, brokers and credit rating agencies. Average monthly turnover of the IFSC exchanges has crossed USD 112 billion.
Round-the-clock international exchanges and listings
Highlights
What stands out
- USD 112 Bn+ average monthly turnover on IFSC exchanges (Q4 2025-26)
- USD 2,281 Mn debt listed on IFSC exchanges (Q4 2025-26)
- Global Securities Market for masala bonds, green bonds and ESG debt
- Expert Committee report on developing REITs and InvITs in IFSC submitted to IFSCA
Permitted activities
What entities actually do here
- Trading in index and single-stock derivatives, currency and commodity derivatives
- Debt listing - foreign currency bonds, green, social and sustainability-linked bonds
- Depository receipts and direct listing of specified securities (framework under consultation)
- Capital market intermediaries: brokers, clearing members, custodians, investment bankers
- Credit rating agencies under the IFSCA CMI Regulations and master circular
Regulation
How it is governed
IFSCA (Capital Market Intermediaries) Regulations, IFSCA (Issuance and Listing of Securities) Regulations and connected master circulars.
Compiled from official material published by IFSCA, GIFT City, GIFT Gujarat. Figures carry the period stated by the publishing authority. Always verify current requirements before acting.