 "GIFT City")
Securities and Exchange Board of India (SEBI) on Tuesday issued Operating Guidelines for Alternate Investment Funds (AIFs) in IFSC at Gujarat's GIFT City. With the announcement of AIF regulations, GIFT city can now potentially become the preferred destination for launching offshore funds for investment in India and also create an ecosystem for the global fund managers to operate in.
Andrew Holland, CEO at Avendus Capital Alternate Strategies said, “This is a great step forward for attracting institutions to set up funds and attract millions of dollars.”
Industry sources explained that with the permission to set up a fund, the whole eco-system
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