International Financial Services Centres Determinants Of Success With Special Reference To India

Abstract

The main objective of the research was to identify key determinants of success for International Financial Services Centres with special reference to India. newlineThe Chapter wise summary of the research is as follows: newlineChapter 1: Covered the Introduction to the research. Researchers from all around the world have studied the International Financial Services Centres (IFSCs) and its competitiveness in great detail, but there have been few significant studies undertaken in India, with the exception of a handful by the Ministry of Finance and the Regulators. newlineThe economic impact of IFSC growth in India would be profound. The development of a flourishing IFSC in India will be facilitated by understanding key elements for its success. The Chapter included the background and evolution of IFSCs, how IFSCs and IFCs have developed, the definition of IFSC, Global Development, International experience, Development in India, IFSC Opportunity: Case for an Indian IFSC, how IFSC have been established in India. newlineChapter 2: Covered the Perspective, activities and categories of IFSC. It explained why IFSCs are established. How the same is viewed from the perspective of the following: newline From the perspective of the jurisdictions hosting the International Financial Service Centre. newline From the perspective of the International Financial Service Centre Units. newline From the perspective of the users/consumers of the International Financial Service Centre. newlineHow IFSCs operate covering Separate Laws for Offshore Activities, Common or Separate Regulatory Authority (ies), Offshore Currencies, Dealing with Non-Residents, Flexible Regulation and Concessionary Treatment, Varied Activities. Further it explained the following categories of IFSCs: newline(a) International Finance Centers (IFCs), which offer the widest range of IFS to customers from all over the world; (b) Regional Finance Centers (RFCs), which support regional economies rather than just national ones; examples of such RFCs include Dubai and Hong Kong; and (c) Offshore Financial Centers (OFCs), which foc