IFSC red carpet removes taxation worries for FPIs

Mumbai: The government has rolled out a red carpet for foreign funds choosing to shift their base from jurisdictions like Singapore and Mauritius to the International Financial Services Centre (IFSC) at Gift City in Gujarat.In the budget for FY22, the government has announced a special framework for funds that are willing to relocate to the IFSC at the Gift City. Under this, transfer of assets by a fund located offshore to the Gift City entity