India INX: the other international exchange in GIFT City
Alongside NSE IFSC, GIFT City is also home to India INX. This guide explains what India International Exchange is, who set it up and how it fits into India's effort to bring global finance activity onshore.
Quick answer
India INX, short for India International Exchange, is an international exchange in GIFT City set up by BSE, one of India's main exchanges. It operates within the International Financial Services Centre and offers global-facing products, largely in foreign currency, aimed at international and cross-border investors.
Key takeaways
- India INX is an international exchange in GIFT City.
- It was set up by BSE, one of India's main exchanges.
- It operates within the International Financial Services Centre.
- It offers global-facing products in foreign currency.
- It is aimed at international and cross-border investors.
What is India INX?
India INX, or India International Exchange, is an international exchange located in GIFT City. It was set up by BSE, one of India's leading exchanges, to operate within the International Financial Services Centre.
Like other exchanges in the hub, India INX is built for global-facing business rather than the domestic market alone. Its products are aimed at international investors and are largely traded in foreign currency.
What does India INX offer?
India INX has offered products spanning areas such as derivatives, and it has also been used as a platform for raising money through global-facing debt listings. The focus is on connecting international capital with India-linked and global instruments.
Because it sits inside the IFSC, the exchange operates under the framework set by the International Financial Services Centres Authority, the dedicated regulator for the zone.
How does it fit into GIFT City?
GIFT City hosts the International Financial Services Centre, and India INX is one of the exchanges operating within it, alongside NSE IFSC. Together they form part of the hub built to bring cross-border finance into India.
| Exchange | Set up by |
|---|---|
| India INX | BSE |
| NSE IFSC | The NSE group |
So GIFT City has more than one international exchange. India INX and NSE IFSC both operate in the IFSC, each set up by one of India's major domestic exchange groups.
Why does it matter?
India INX matters as part of India's push to host global finance activity onshore. Exchanges like this are meant to attract international business that might otherwise take place in other global centres.
For investors, it is mainly relevant as background to India's global finance story rather than a venue for everyday domestic trading, which still happens on the main exchanges.
How should you think about it?
For most everyday Indian investors, India INX is not where they trade day to day, since it is built for global and cross-border business in foreign currency. It is more relevant as part of the GIFT City picture.
Knowing what India INX is helps you follow news about India's international finance ambitions. Any investment decision should be your own after proper research and reading all related documents.
Frequently Asked Questions
What is India INX?
India INX, or India International Exchange, is an international exchange in GIFT City set up by BSE, operating within the International Financial Services Centre for global-facing business.
Who set up India INX?
India INX was set up by BSE, one of India's main exchanges, to operate inside the International Financial Services Centre in GIFT City.
What does India INX offer?
It has offered global-facing products spanning areas such as derivatives and has been used as a platform for raising money through global-facing debt listings, aimed at international investors.
How is India INX different from NSE IFSC?
Both are international exchanges in GIFT City's IFSC, but India INX was set up by BSE while NSE IFSC was set up by the NSE group.
Do everyday investors trade on India INX?
Most everyday investors do not trade there day to day, since it is built for global and cross-border business in foreign currency, and is mainly relevant as part of the GIFT City picture.
Disclaimer: Investments in the securities market are subject to market risks. Please read all related documents carefully before investing. This article is intended for informational and knowledge purposes only and should not be considered tax, financial, or investment advice. Tax laws and deductions may vary based on individual circumstances and regulatory changes. Readers are advised to consult a qualified tax advisor or financial professional before making any investment or tax planning decisions.
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