Photo of Jinisha Motwani

Associate in the General Corporate Practice at the Gift City and Ahmedabad office of Cyril Amarchand Mangaldas. She can be reached at jinisha.motwani@cyrilshroff.com

GCC Series: Setting-up Global In-house Centres (GICs) in India: Key regulatory considerations

In part VI of our series on key legal considerations for establishing global capability centres (“GCCs”) in India,[1] we discuss global in-house centres or GICs that precede and are a variant of current GCCs.Continue Reading GCC Series: Setting-up Global In-house Centres (GICs) in India: Key regulatory considerations

GIFT City

Introduction

The onset of Global In-house Centres (“GICs”) in India was driven by global financial services companies seeking to drive costs down and access India’s large talent pool across various locations. These factors together made it a compelling case for GICs to invest in India to setup large centres which performed a variety of functions across technology, risk, AML, operations, research, credit analysis, etc., for a wide variety of businesses, from retail banking, wholesale banking to investment banking, located in various foreign countries. This model has been visibly successful in driving the upskilling of a large talent pool in India and enabling significant cost advantages to the financial services companies that have implemented this model.Continue Reading GICs in IFSC, GIFT City: A Combination to Unlock Value

Aircraft Leasing in IFSC

In our previous post we had provided a synopsis of the legal framework relating to aircraft leasing in India and Indian IFSCs. In this piece, we will provide an overview of the tax incentives offered to the aircraft leasing activities undertaken from  IFSCs located in India to achieve the dream of developing the GIFT IFSC into a global aircraft leasing hub. We have provided  a few more thoughts to ponder upon as India fuels its engines to realise its objective of ‘letting the common citizen of the country fly’ (Ude Desh Ka Aam Nagrik).Continue Reading Part III (B): Aircraft Leasing in IFSC – Let’s kick the tires and light the fires!

Aircraft Leasing in IFSC

The Government of India (“GOI”) has, in the recent years, realised the importance of aircraft leasing activities in the global market and has made its intentions clear to promote aircraft leasing and financing activities in India’s first International Financial Services Centre (“IFSC”) situated in GIFT City, Gandhinagar. The aim is to bring the aircraft leasing business,  currently being carried out in countries that have established themselves in this sector such as Ireland, USA, Hong Kong, Singapore, etc[1], to the Indian shores. Leasing aircraft from abroad leads to incurring substantial liabilities payable in foreign currencies. Hedging currency fluctuations also becomes an additional cost for Indian airline operating companies. The above reasons highlight cost-inefficiencies and put into perspective how crucial it is to begin aircraft leasing and financing activities in India.Continue Reading Part III (A): Aircraft Leasing in IFSC – Let’s kick the tires and light the fires!