Indian lawmakers propose letting overseas companies redomicile to GIFT City financial hub

India just made a play to become the Delaware of global finance. A panel of Indian lawmakers has proposed allowing overseas-registered companies to transfer their registration directly to an Indian International Financial Services Centre, with GIFT City in Gujarat being the obvious target destination. The proposal, which emerged from the Joint Committee on the Corporate Laws (Amendment) Bill, would create a formal redomiciliation pathway for foreign entities. In English: companies currently registered in Singapore, Dubai, or the Cayman Islands could essentially pack up their legal home and move it to India without dissolving and re-incorporating from scratch. What GIFT City actually is, and why it matters GIFT IFSC, short for Gujarat International Finance Tec-City International Financial Services Centre, operates as something of a regulatory island within India. Entities registered there are classified as “persons resident outside India” under the Foreign Exchange Management Act. That distinction is not cosmetic. It means GIFT City businesses operate under a lighter regulatory framework compared to the rest of the country, with different tax treatment and fewer capital controls. Th...