International Financial Services Centre (IFSC)

An International Financial Services Centre (IFSC) is a designated area within a country that offers specialized financial services such as banking, insurance, asset management, and investment activities, primarily to international clients. These centers are equipped with modern facilities and often have different regulations and tax benefits to attract global financial institutions. The goal is to boost economic growth, create jobs, and position the country as a key player in the global financial market. Examples include the IFSC in India’s Gujarat International Finance Tec-City (GIFT City), which aims to promote international finance and related services.