The Indian stock market is currently under pressure due to US tariffs. However, global financial agencies still hope that investing in India can be profitable. Meanwhile, ICICI Prudential Mutual Fund has launched a global fund.
Foreign portfolio investors (FPIs) are continuously withdrawing from the Indian stock markets. Due to this, the Indian markets have come down significantly from their highs. Along with this, the valuation of the markets has become quite attractive. The shares of many well-known companies are also trading much below their highs at this time.
To take advantage of this, ICICI Prudential Mutual Fund has set up an International Financial Service Center (IFSC) branch in Gujarat International Finance Tech (GIFT) City. A Global Fund Scheme has also been launched to raise foreign money in India.
Many global financial agencies believe that if investments are made in the Indian market for a long time, investors can get better returns. The IFSC branch has taken registration from the International Financial Services Centre Authority (IFSCA) as “Fund Management Unit (Retail)”. Now this branch will be able to operate schemes like individual schemes, retail schemes and exchange-traded funds (ETF) as per IFSC rules. Its objective is to act as a bridge between the global investments of mutual funds and the investment opportunities of India.
‘India is going through a period of change’
Speaking at the inauguration, ICICI Prudential AMC Limited CFO Naveen Agarwal said that India is going through a period of major change. The country’s strong population, rapid urbanisation, digital economy and policy reforms are further strengthening India’s development journey.
‘Good opportunity to invest in India’
This is a good time for investors who want to invest in India for a long time. With this new branch in GIFT City, we want to give investors a global gateway to invest in India through equity, fixed income, alternative investments and hybrid options.
The aim is to connect foreign investors with India
The aim of the IFSC branch is to create a hub to connect global investors to India. By utilising the facilities of GIFT City and the internationally compliant regulatory framework of IFSCA, the branch will provide easy, transparent and tax-efficient access to India’s capital markets.
