Gandhinagar: Final framework has been issued on Friday by IFSC Authority for aircraft leasing activities in IFSC.

Tapan Ray, MD & Group CEO, GIFT City, “The framework on aircraft operating lease would pave the way for offshore leasing entities to serve India’s hinterland demand from GIFT IFSC. The incentives announced in the union budget 2021 coupled with the formation of the framework shows the commitment of the Government of India towards making GIFT IFSC a hub for aircraft leasing & financing activities. The participants who were waiting for the final regulations to come out can now actively consider setting up their base in GIFT IFSC.”

Tushar Sachade, Partner, PwC India said, “The regulatory framework issued by the IFSC Authority coupled with the Budget announcements on the tax front pertaining to the aircraft leasing sector will definitely give wings to create a sustainable eco-system for operations of aircraft leasing and financing sector in Gift City. This probably is India’s first firm step to become an eventual alternative to other offshore jurisdictions. We will soon see this business soaring from GIFT city.”