Standard Chartered Deepens Its Commitment to India with further expansion in GIFT City
FinTech BizNews Service
Mumbai, 6 August, 2026: Standard Chartered today announced that it has received an in-principle approval from the International Financial Services Centres Authority (IFSCA) for distribution of Capital Market products from GIFT City. This approval will enable the Bank to launch its Wealth Management proposition from GIFT City. The Bank expects to start offering these retail services in the next few months.
Standard Chartered was the first foreign bank to commence operations from GIFT City in 2020. Currently, the Bank offers a comprehensive suite of products and services across Lending, Trade Finance, Transaction Services and Financial Markets catering to Corporate & Institutional Banking clients. The Bank enjoys leadership position in several products it offers in GIFT City.
P D Singh, CEO, India and South Asia, Standard Chartered, said, "The Bank has been a strong supporter of India's economic growth and increasing integration with global financial markets. We have the largest client base amongst foreign banks in GIFT city, serving more than 600+ clients consisting of MNCs, Domestic Corporates, Financial Institutions and SMEs. We have financed more than USD 25 Bn+ across products. Our leadership extends beyond traditional banking. We have become a trusted partner to the investor ecosystem in GIFT City, serving fund management companies, foreign portfolio investors and global institutions that are channelling capital into India. We are a preferred bank for regional treasury centres with ~50% market share.
As we engage with clients and investors across global markets, we see a growing interest in GIFT City as a financial gateway to India. Building on our deep roots in the GIFT City ecosystem, this distribution approval enables us to bring Standard Chartered's global wealth management capabilities, while supporting GIFT City's ambition to become a leading international financial services centre. As GIFT City continues its next phase of growth, we remain committed to expanding our capabilities, investing in talent and innovation, and delivering best-in-class solutions that support our clients' growth ambitions,” Singh added.
Standard Chartered has been a pioneer in shaping the IFSC ecosystem through several market-first initiatives, including ODI issuances, FPI transactions, Bullion hedging solutions and Receivables factoring, reinforcing our position as a leading innovator in GIFT City. Over the past couple of years, Standard Chartered has accelerated its presence in GIFT City by establishing one of the largest team on the ground amongst foreign banks. Further the Bank has expanded its product and service capabilities, including implementation of Corporate Treasury Management solutions and Foreign Currency Settlement System.
