CHENNAI: In order to encourage small and medium exporters to access international financial services at competitive rates, the International Financial Services Centre Authority (IFSCA) plans to conduct awareness programmes, including road shows, in Tamil Nadu’s Tiruppur, Coimbatore, Chennai, and Hosur.
During a special visit to Gujarat organised by the Press Information Bureau (PIB), IFSCA chairman Injeti Srinavas said the authority is looking at TN’s western zone which has been a financial hub. Srinavas said the vision of IFSCA is to create a world-class finance and IT zone for India, offering service to the country and the world. “We have tie-ups with more than 400 companies in several countries, including Australia and Singapore. The centre has also given its nod to tie-up with seven more countries,” he said.
He also invited businesspersons from Tamil Nadu to join hands with IFSCA which was established in Gujarat International Finance Tec-City (GIFT City). The union government established the IFSCA in April 2020 under the International Financial Services Centres Authority Act and the regulatory powers of RBI,
SEBI, Insurance Regulatory Development Authority of India, and the Pension Fund Regulatory Development Authority of India to regulate financial institutions, financial services, and financial products in the IFSC were vested with the IFSCA, he said. Elaborating on Gift City, another official said, “It is spread over 1,000 acres on erstwhile ravine land.” “We also have plans to build universities with world-class standards,” the official said.