The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) witnessed an all-time high trading turnover of over USD 13.05 bn (INR 96,033 crores approx.) at 04:15 pm on its derivative segment in daily trading turnover on December 28, 2020 with a market share of over 84% in GIFT IFSC.
Trading turnover on the BSE’s India International Exchange has been growing exponentially ever since it commenced trading activities on January 16, 2017. Its average daily trading turnover has crossed over USD 10.11 bn (INR 74,398 crores approx.) mark in the month of Dec 2020, over 51% growth in average daily trading turnover as compared to previous month. The cumulative trading turnover has crossed the USD 1.58 trillion (INR 1,16,26,999 crores) mark driven by a substantial jump in market participation. This increased trading activity validates the new products and initiatives taken by India INX and reflects growing interest in the IFSC among the broking fraternity. Even during the Covid-19 pandemic and lockdown, India INX was operational for 22 hours nonstop and has maintained its leadership as the No. 1 exchange in IFSC GIFT City.
The exchange provides a common platform for all asset classes – equities, currencies, commodities. India INX is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds and operates for 22 hours a day to allow international investors to trade from anywhere across the globe. India INX offers a diversified portfolio of products and technology services at a cost which is more competitive to Indian exchanges; as well as other global exchanges like those in Hong Kong, Singapore, Dubai, London and New York.
The exchange being located in IFSC, GIFT City, provides competitive advantage in terms of tax structure and supportive regulatory framework. These include benefits in security transaction tax, commodity transaction tax, dividend distribution tax and long-term capital gain tax waivers and no income tax