MUFG, HSBC bet big on India’s GIFT city in warning to Asia hubs
Published on: Nov. 14, 2025, 7:35 a.m. | Source: The Economic Times
Global banks are increasingly choosing India's GIFT City for dollar-denominated debt, diverting business from established Asian financial centers. Attractive tax incentives, particularly the absence of withholding tax, enable cheaper financing. This burgeoning hub is poised to capture a larger share of Indian corporate offshore borrowing, signaling a significant shift in regional finance.
