On Monday, trading began for USD-denominated futures and options of the BSE Sensex at the India International Exchange (India INX) located in GIFT City. This new option allows foreign investors to trade India’s stock market without worrying about currency exchange issues.
Gujarat Chief Minister Bhupendra Patel started this exciting launch, which aims to attract global investors by providing longer trading hours and reduced costs. The market will be open for trading 22 hours a day, making it easier for investors worldwide to access Indian stocks with the added benefit of a friendly tax environment.
BSE CEO Sundararaman Ramamurthy said, “This launch will help more global investors access India’s main stock index. The Sensex represents a big part of India’s stock market, and these new options will help investors join in on India’s growth.”
India INX, which is part of BSE, offers several benefits, like no securities transaction tax, no stamp duty, and no GST. Also, international investors can trade without needing an Indian tax ID number (PAN).
Vijay Krishnamurthy, CEO of India INX, mentioned, “We’re excited to offer more products and make it easier for global investors to invest in India in a regulated and tax-friendly way.” This launch is part of the plan to make GIFT City a major financial hub and attract foreign investments by removing regulatory and tax obstacles.
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