Euro FX settlement in works at GIFT City

Enhancing FX settlement capabilities at GIFT City improves India's financial infrastructure and facilitates international trade, which is positive for the broader economy and financial sector.

• •India's financial hub (GIFT City) is looking to introduce real-time euro foreign-exchange settlements.
• •Aims to boost financial ties with the European Union as a trade deal progresses.
• •IFSCA has requested government approval for euro settlements alongside the US dollar.
• •Follows successful implementation of real-time dollar settlements, which reduced transaction times and risks.
• •Risk flag: Delays in government approval for euro settlements