12 Jan 2024
On Thursday, Finance Minister Nirmala Sitharaman said that India has a funding gap of $10.1 trillion to meet its net zero commitment and asked IFSC (International Financial Services Centre) to set up a platform where green credits can be traded. Speaking at the session 'An Aspiration of Modern India' at GIFT City, the finance minister said companies in India will soon be able to access global funds with direct listing on IFSC exchanges.
“The much-awaited direct listing of stocks in GIFT IFSC was announced earlier. We are going through the process in a planned way, and I'm certain that it will happen as soon as possible. Along with this, Indian companies should be able to easily access global funds to list in India," she said.
The government had decided last year to allow both listed and unlisted companies to directly list themselves on IFSC exchanges in GIFT City. Currently, Indian companies can access foreign equity markets only by issuing depository receipts or listing their debt securities on foreign markets. The finance minister suggested that there should be a platform located at the IFSC where green credits can be traded.
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