GIFT City: Standard Chartered Gets Nod To Launch Global Wealth Management Services

The approval paves the way for the bank to launch its Wealth Management proposition from GIFT City, enabling it to offer investment and capital market products to eligible retail clients. The bank said it expects to roll out these services over the coming months, marking a major expansion beyond its existing corporate and institutional banking operations.

Standard Chartered became the first foreign bank to commence operations in GIFT City in 2020. Since then, it has built a strong presence by offering lending, trade finance, transaction banking, and financial markets solutions to corporate and institutional clients. Today, the bank serves more than 600 multinational corporations, Indian corporates, financial institutions, and small and medium-sized enterprises (SMEs) through its GIFT City branch.

According to the bank, it has financed transactions worth over US$25 billion across multiple banking products from GIFT City, making it one of the leading foreign banking players operating in the IFSC.

Building A Wealth Hub

The latest approval represents a strategic shift for Standard Chartered as it prepares to introduce its globally recognised wealth management platform into GIFT City. The move aligns with India’s broader ambition of positioning GIFT City as a global financial hub capable of competing with established international financial centres.

With the approval, the bank will be able to distribute capital market and investment products from GIFT City, further broadening the range of financial services available within the IFSC.

Rise Of India’s IFSC

Commenting on the development, P.D. Singh, Chief Executive Officer, India and South Asia, Standard Chartered, said that the bank continues to witness growing international investor interest in GIFT City.

He noted that Standard Chartered currently has the largest client base among foreign banks in GIFT City and has emerged as a trusted banking partner for fund management companies, foreign portfolio investors, and global financial institutions investing in India.

The bank also stated that it commands nearly 50% market share in servicing Regional Treasury Centres operating from GIFT City, underscoring its leadership in the international banking ecosystem.

Boost To India’s IFSC Vision

The latest expansion reflects Standard Chartered’s long-term commitment to India’s financial sector and reinforces GIFT City’s growing importance in attracting global capital, international banking activities, and cross-border wealth management services.

As GIFT City enters its next phase of development, the bank said it will continue investing in talent, technology, and innovative financial solutions to support the evolving needs of global investors and Indian businesses, while contributing to the IFSC’s ambition of becoming a world-class international financial centre.