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Below the Quote on the approval of Azim Premji family’s Family Investment Fund (FIF) by IFSCA at GIFT City. by Mr. Vivek Singhania, Co-founder, Dovetail Group 

“The approval of Azim Premji family’s Family Investment Fund (FIF) by IFSCA at GIFT City hosts new opportunities for global investments by large families sitting within the geographical boundary of India itself. The investments in the FIF come under the Overseas Portfolio Investment regime brought in by the Reserve Bank of India in August 2022 allowing a family office entity based out of India to invest a maximum of 50% of its net worth in an FIF based out of GIFT City. The regime is restricted towards investment in GIFT City FIF entity only and intends to solidify the position of GIFT City as a financial hub on the global platform. This approval also gives a slight hope of capital account convertibility in India at some point in time”

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