Gift city

Recognizing the potential of the State as a Centre for the Financial services industry, the Government of Gujarat formulated a mega project to realize this vision. Thus, land between the commercial capital of the State, Ahmedabad, and the Administrative Capital of the State, Gandhinagar, was identified for the development of a Central Business District (CBD).

The City is planned on 886 acres of land with 62 mn sq. ft. of Built Up Area which includes Office spaces, Residential apartments, Schools, Hospitals, Hotels, Clubs, Retail and various Recreational facilities and has been named as the Gujarat International Finance Tec-City (GIFT).

Board of Directors Gujarat International Finance Tec City Co. Ltd.

# Mr. Sudhir Mankad Chairman - Nominee of Government of Gujarat

# Mr. Mukesh Puri, -IAS Nominee of Government of Gujarat

# Mr. Pankaj Joshi, -IAS Nominee of Government of Gujarat

# Mr. Rajkumar Beniwal, -IAS Nominee of Government of Gujarat

# Mr. Tapan Ray, -IAS (Retd.) Managing Director & Group CEO

# Dr. Sudhir Jain ,-Independent Director

# Mr. M.V. NAIR ,-Independent Director

# Mr. Dileep Choksi ,-Independent Director

# Dr. Indira Parikh,-Independent Director

Multi Services SEZ area bifurcation and activities

PROCESSING AREA / NON-PROCESSING AREA

International Financial Service Centre (IFSC) - Related Commercial and Office Buildings

International Techno Park & International Market Zone - Service Apartments & Residential Flats

Commodity Exchanges - Hostels and Restaurants and Food Court

Global trading exchanges - Business Hotel, Shopping Centre, Retail Stores and Banks

Insurance - Training center for Financial Services

Offshore Banking - Medical Centre

IT/ ITeS - Entertainment Centre/ Theatre

KPO/ BPO - services Regulators OfficesWater Supply & Sewerage System

Water Sources:

Narmada Main canal

Recycling and Reuse of Wastewater

Rainwater Harvesting

24 x 7 Water Supply

Concept of Zero Discharge City

Perennial Water Front ensured through construction of three barrages on river Sabarmati

Proposed landscaped promenade at the river bank along GIFT City

Power supply

Dual power supply at Power Station with building level Back-up power facility.

Vision

“To be recognized as one of the reliable, efficient, and competitive Power Distribution Company.”

Power Infra Highlights

GIFT Power Company Ltd., 100% subsidiaries of GIFTCL is Power distribution licensee for GIFT

Projected Power demand of GIFT is 610 MVA.

220/33KV Receiving Stations with Dual source of Power.

Initially 66/33KV receiving station with Dual source of Power.

33 kV dual feed cable distribution in Utility Tunnel to all the packages.

Centralised Backup power feed through same network.

State-of-the-art automation setup for Substation, Distribution, Lighting and distribution network with real time monitoring and control.

Power Distribution strategy

Gas Insulated Switchgears (GIS) substation for Sub-transmission and Distribution within GIFT city

Building level Switching panel room with GIS switchgear inside utility tunnel connecting each package

Dual 33KV feed to every building from Switching panel room

Complete Electrical infrastructure of building shall be developed and maintained by developer

Information-Communication-Technology

Automated Waste Collection System (AWCS)

Automated Waste Collection System (AWS) through chute system

Minimum Human Intervention

Minimize space requirement

Minimize impact on healtah

Waste sucked through pipes at a speed of 90 km/hr

Waste Treatment through Plasma Technology

District cooling system

System Highlights:

Total cooling load capacity – 1,80,000 TR

State-of-the-art technology with series counter flow chillers and Thermal storage tank

Chilled water distribution through underground utility tunnel

Effective metering and control through SCADA

Salient Advantages:

Reduced Energy Cost through diversity

Reduce global warming potential (GWP) due to use of green refrigerant

Reduce operation & maintenance

Economical for end-user

Utility Tunnel in GIFT City

GIFT City is being developed as a state-of-the-art financial hub which shall require huge infrastructure with excellent planning, designing and engineering with latest technologies. In respect to vast infrastructure systems, GIFT developed the vision of “DIGGING FREE CITY” by placing all the utilities in a TUNNEL across the city so that there is no need to excavate the roads in future for repair/maintenance /renovation/up gradation of any utility. The provisions are made in the tunnel for smooth access, separation of utilities, proper drainage, lighting, and other long-term concerns, such as maintenance and security.

The Utility Tunnel will accommodate all the utilities including Power Cables, Raw Water supply pipe line to Water Treatment Plant (WTP) as well as treated water supply pipe line from WTP to various developments, chilled water supply from District Cooling Pipe (DCP) to various developments and return pipe line to DCP, ICT cables, Automated Waste Collection pipe line, Fire hydrant water pipe line, etc. From safety point of view the tunnel is divided into WET and DRY sections which are physically separated with each other. Wet section is carrying utilities related to water, ICT and others while dry section carries power cables and have access from top. The wet section has been designed in such a manner that material handling or maintenance vehicles can enter into.

Total length of the Tunnel within GIFT City shall be approx. 16 Km and shall be provided with Ventilation system, Rodent Repellent System and Fire & Smoke Detection System for the purpose of safety. The size of the Tunnel shall vary depending on the no and size of the Utilities and may go up to as large as 8 M wide X 11M deep.

C-4(City Command & Control Centre)

GIFT uses advance of technology in form of unique IoT (Internet of Things) based to monitor and manage city Infrastructure.

TIER IV Data Centre

A state of the art certified TIER IV Green Data Centre by Tata Communications with a capacity of 900 Racks is up and running

Samrudhi Sarovar & Waterfront Development

1 km length & 7 m depth

Width varying from 82 m to 160 m

Designed for 15 days drinking water storage

Water Body of 0.75 Mm3 capacity to enhance aesthetics and for water sports activity

Source: Master Plan Documents, ECADI/Fairwood * 120 mt height permission received from AAI, various studies underway as to recommend height relaxation in GIFT up to 400 mt.

GIFT is planned as a financial Central Business District (CBD) between Ahmedabad and Gandhinagar as a greenfield development. GIFT shall be a part of the future urban complex of Ahmedabad & Gandhinagar. GIFT is designed as a hub for the global financial services sector. More particularly, state-of-the-art connectivity, infrastructure and transportation access have been integrated into the design of the city.

GIFT Master Plan reflects a sophisticated planning approach that integrates the intended program into the existing context of both the site and the region. The GIFT development is expected to become a contemporary model development in India, advancing the ideas of sustainability and ecology. The project regenerates the area as high-quality, mixed use district of residential, commercial and open space facilities that optimize land and real estate values.

The vision for GIFT is achieved through the objectives which are enumerated as follows:

To develop a new format for globally benchmarked Integrated City

To propose a road map for fast track development and implementation

To make the city scalable in each & every aspect for a distant future

To derive the city format from fast changing lifestyles & new technologies

To achieve an image of Global city, that keeps pace with modern technologies

Propelled by a competitive economy anchored on commerce and related industry, GIFT, envisaged as an Eco-City, will serve as the Vibrant Hub of Western India and as a habitat showcasing business oriented, environmentally-sensitive growth with equity. The fundamental principles of life and livability lays the foundation for the city.

Basic Principles

The development of GIFT offers a significant opportunity to be a test-bed to drive reforms and innovation in various fields including in delivery systems, local government, physical planning, infrastructure development, environmental protection and so on. Getting these foundation principles right is crucial to plan and execute the development strategies.

Fulfillment of Human Needs

for
Safe and clean environment,

Food & Shelter,

Education,

Arts,

Culture, and

Useful and satisfying employment

Maintenance of Ecological Integrity Through

Low energy consumption

Careful stewardship,

Education,

Reduction in wastes and

Culture, and

Protection of diverse and important natural species and systems

SEZ

Gujarat International Finance Tech-city (GIFT) SEZ is India’s first International Financial Services Centre (IFSC) under Special Economic Zone Act, 2005 (“SEZ Act 2005”). It is being developed as a global financial services hub. GIFT IFSC is a Multi Services Special Economic Zone with 105 hectors of land and commenced its business in April 2015.

Government of India operationalized International Financial Services Centre (IFSC) at GIFT Multi Services SEZ in April 2015. The Union Budget 2016 provided competitive tax regime for the IFSC at GIFT SEZ. It is the vision of the Hon’ble Prime Minister that GIFT IFSC emerges as a hub for international financial services activities.

Ministry of Finance, Government of India provided new initiative for undertaking international financial services business in India. The Indian Regulators namely Securities and Exchange Board of India (SEBI), Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority (IRDAI) has also issued guidelines for Capital Markets Intermediaries, Banks and Insurance companies/Insurance Brokers respectively. Thus, allowing financial institutions to set up IFSC Units under various areas of business at GIFT City.

The new Regulatory approvals at GIFT IFSC is poised to attract foreign investments and particularly financial institutions and intermediaries to its precinct. Therefore, In a short span of 3 years of its operations, it is already host to more than 125 financial entities licensed by financial services regulators namely RBI, SEBI and IRDAI.

GIFT IFSC provides very competitive cost of operations with very competitive tax regime, single window clearance, relax company law provisions, international arbitration centre with overall facilitation of doing business. GIFT IFSC is now moving toward unified regulatory mechanism.

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The GIFT SEZ Advantage

Creation of an estimated 500,000 direct jobs and an equal number of indirect jobs.

Providing financial incentives, regulatory freedom and world-class infrastructure.

World class infrastructure and unparalleled connectivity and transportation access.

Strict adherence to environmental norms, with built-in technologies for a sustainable ecosystem.

National and international hub of IT and ITeS companies, finance companies, commodity exchange, global trading, insurance, offshore banking and data centers among others.

Infrastructure

The provision of quality infrastructure shall play a pivotal role in supporting the business environment and quality of life in GIFT SEZ. A judicious combination with the latest technology and global best practices in infrastructure service delivery are in place. All of these come together to provide an international standards of living and of life it aims to serve by providing superior product quality and efficient service delivery.

IFSC Business

Submission of Interest Letter/Mail to Co-developer by the organization for taking up space in GIFT SEZ for setting up unit in GIFT SEZ-IFSC.

Co-developer will give the Proposal to the applying organization for taking up space in incubation facility in GIFT SEZ.

The organization to provide the confirmation/acceptance for the Proposal sent by Co-developer.

Post confirmation, Co-developer will issue Provisional Letter of Allotment (PLOA) to the organization for providing office space for setting up IFSC Unit in GIFT SEZ.

Organization to submit application on line through NSDL PORTAL in (Form-F) to Development Commissioner, KASEZ for taking approval for setting up IFSC Units in GIFT SEZ and submit the hard copy of the documents in one set. The one set of the Documents needs to be submitted to the Developer.

On approvals from DC, KASEZ, the SEZ units have to complete SEZ compliances as per the SEZ rules 2006 and the conditions mentioned in the respective LOA issued by the office of the Development Commissioner, KASEZ & apply for issuance of Eligibility Certificate for availing exemption.

Simultaneously, application to the concerned Regulator (RBI/SEBI/IRDA) for required license to operate as IFSC Unit in GIFT SEZ under the applicable regulations for banking/capital market /insurance.

SEZ units have to obtain the Import Export Code (IEC code)

Approved units have to complete the necessary Registration formalities with the concerned authorities like GST, EPCES, NSDL etc. for availing exemptions of taxes and Duties.

The approved Units shall have to execute lease deed with the Co –developer as the case may be for the allotted space and submit a copy to DC office within six months from issuance of LOA.

Areas of business

Banking

Pursuant to the Reserve Bank of India Notification No. FEMA.339/2015-RB dated March 02, 2015 under FEMA 1999 on Foreign Exchange Management (International Financial Services Centre) Regulations, 2015 setting out RBI regulations relating to financial institutions set up in International Financial Services Centres (IFSC), RBI has formulated a scheme for the setting up of IFSC Banking Units (IBUs) by Indian banks and foreign banks already having presence in India.

The IFSC banking units will be able to provide foreign currency financing requirements of the Indian corporates as well for overseas entities. The Branch will operate as an offshore branch.

Eligible banks interested in setting up IBUs will be required to obtain prior permission of the Reserve Bank for opening an IBU under Section 23 (1)(a) of the Banking Regulation Act, 1949 (BR Act). For most regulatory purposes, an IBU will be treated on par with a foreign branch of an Indian bank.

Foreign Banks

The Reserve Bank has issued a notification under FEMA vide Notification No. FEMA.339/2015-RB dated March 02, 2015 setting out RBI regulations relating to financial institutions set up in International Financial Services Centres (IFSC) under which RBI has formulated scheme for the setting up of IFSC Banking Units (IBUs) by Foreign banks in IFSCs.

Foreign banks would be able to carry out following Business thru IBU at GIFT IFSC

Foreign currency loans to non-residents {Foreign Corporates & Wholly Owned Subsidiaries (WOS)/Joint Ventures (JV) of Indian Corporate}

Provide ECBs to Indian entities seeking foreign currency funds as permitted under FEMA

Project Finance for Foreign Corporates & WOS/JVs of Indian Corporates

Provide corporate banking facilities to various units in SEZ & IFSC

Factoring & forfaiting services as part of the trade finance requirements to WOS/JVs of Indian corporates abroad and foreign corporates & Letter of Credit and Bank Guarantee for oversees transactions (Inward & Outward)

FOREX Transactions (Buying & Selling of various currency)

Bulk deposits from Foreign Corporates / WOS of Indian Corporates

Market borrowings such as inter-bank borrowings, debt issuance etc.

Derivatives and structured products – swaps, futures, etc.

Providing trade loans to correspondent banks

Application process:

Step 1: Identify the office space in GIFT IFSC

Step 2: Application to SEZ Development commissioner for SEZ approval

Step 3: Application to Reserve Bank of India for setting up IFSC Banking UNIT

Kindly note RBI has not provided any specific format for the application to be made for IBU.

Mr. R. K Patil, Department of Banking Regulation Central Office Mumbai can be contacted for IFSC matters. You may get in touch at rkpatil@rbi.org.in for your application.

Indian Banks

SBI bank

LIC

Indian Banks would be able to carry out following Business thru IBU at GIFT IFSC

Foreign currency loans to non-residents {Foreign Corporates & Wholly Owned Subsidiaries (WOS)/Joint Ventures (JV) of Indian Corporate}

Provide ECBs to Indian entities seeking foreign currency funds as permitted under FEMA

Project Finance for Foreign Corporates & WOS/JVs of Indian Corporates

Provide corporate banking facilities to various units in SEZ & IFSC

FOREX Transactions (Buying & Selling of various currency)

Bulk deposits from Foreign Corporates / WOS of Indian Corporates

Market borrowings such as inter-bank borrowings, debt issuance etc.

Derivatives and structured products – swaps, futures, etc.

Providing trade loans to correspondent banks

Application process:

Step 1: Identify the office space in GIFT IFSC

Step 2: Application to SEZ Development commissioner for SEZ approval

Step 3: Application to Reserve Bank of India for setting up IFSC Banking UNIT

Kindly note RBI has not provided any specific format for the application to be made for IBU.Mr. R. K Patil, Department of Banking Regulation Central Office Mumbai can be contacted for IFSC matters.

Capital Markets

Securities and Exchange Board of India has issued the guidelines to facilitate and regulate financial services relating to securities market in an International Financial Services Centre set up under Section 18(1) of Special Economic Zones Act, 2005. This Guidelines may be called as Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015

The IFSC provides an opportunity to Stock Brokers, Alternate investment funds, portfolio managers, advisors, mutual funds etc. to carry out international financial services.

India’s Two largest exchanges namely Bombay Stock Exchange (BSE) and NSE have set up international exchange and clearing corporations at GIFT IFSC. The exchanges provide more than 140 products for trading.

International Exchanges

Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 has permitted that, any Indian recognised stock exchange or any recognised stock exchange of a foreign jurisdiction may form a subsidiary to provide the services of stock exchange in IFSC.

Stock exchanges operating in the GIFT IFSC are permitted to offer trading in securities in any currency other than the Indian rupee. Subject to SEBI approval, Trading is permitted in equity shares of companies incorporated outside of India, depository receipts, debt securities of eligible issuers, currency, index, interest rate and non-agriculture commodity derivatives and all categories of exchange traded products that are available for trading in stock exchanges in FATF/ IOSCO complaint jurisdiction.

India International Exchange (India INX)

BSE, Asia's oldest stock exchange has established the country's first International Exchange “India International Exchange (India INX)”at the international financial services center (IFSC) GIFT city. BSE signed an agreement with GIFT SEZ Limited in January 2015 to set up International Exchange and International Clearing Corporation at the GIFT IFSC. India International Exchange IFSC Limited (India INX) and India International Clearing Corporation IFSC Limited (India ICC) are wholly owned subsidiary of the BSE Limited.

The International exchange received final approval from Securities and Exchange Board of India (SEBI) on December 30, 2016. India INX is now India’s first International Exchange set up at GIFT City and was inaugurated by Honorable Prime Minister, Shri Narendra Modi, on 9th Jan, 2017. India INX offer a diversified portfolio of products and technology services at a cost which is far more competitive to Indian exchanges as well as other global exchanges like those in Hong Kong Singapore, Dubai, London and New York.

India INX is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds. India INX operates for 22 hours a day to allow international investors and Non Residents Indians to trade from anywhere across the globe. In the first phase it proposes to commence trading in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks. The technology offerings at India INX would facilitate co-location of members in its own Data Centre at GIFT IFSC as well as provide high frequency trading.

India INX commenced trading activities on January 16, 2017. The Daily Average Turnover of India INX crossed USD 1 Billion on June 06th 2018

NSE IFSC

NSE has set up NSE IFSC Limited as an international exchange. NSE IFSC Limited (NSE IFSC) is a fully owned subsidiary company of National Stock Exchange of India Limited (NSE) and has received approval from Securities and Exchange Board of India (SEBI) to establish an international exchange in Gujarat International Finance Tech City - International Financial Service Centre.

This new exchange is intended to grow the financial market as well as expected to bring capital into India.

Following are the details of the products traded at both the exchanges. International Exchanges Operates 22 hours a day.

Brokerage Business

Chapter III of Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 permitted that any recognized entity of India or foreign jurisdiction can set up an entity for providing Broking services at GIFT IFSC.

Approval as per chapter III.

Any SEBI-registered intermediary (except trading member or clearing member) or its international associates in collaboration with such SEBI – registered intermediary may provide financial services relating to securities market, in IFSC, without forming a separate company, subject to the prior approval of the Board.

The parent company registered with SEBI or any foreign regulator through its subsidiary company can become trading and clearing member of IFSC exchanges.

The exchanges provide different types of membership as below.

Trading membership,

Trading cum self clearing membership

Trading cum clearing member and

Professional clearing member

The process to set up intermediary company is mentioned at Setting up page on the website.

Link to be provided for redirecting the user to setting up page.

Intermediaries

According to Chapter II of Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 following entities are permitted to set up operations in GIFT IFSC, "intermediary" means and includes,

a stock broker,

a merchant banker,

a banker to an issue,

a trustee of trust deed,

a registrar to an issue,

a share transfer agent,

an underwriter,

an investment adviser,

a portfolio manager,

a depositary participant,

a custodian of securities,

a credit rating agency, or any other intermediary or any person associated with the securities market, as may be specified by the Board from time to time.

Wealth and Asset Management

SEBI Vide circular dated May 23, 2017 has permitted Alternate Investment Funds, Mutual Funds, Portfolio Managers to invest in the following Securities.

Insurance

The IRDAI had issued the Insurance Regulatory and Development Authority of India (International Financial Service Centre) Guidelines, 2015 in April 2015 (“Old Guidelines”) to permit the following category of participants to set-up offices in the IFSC.

An Indian Insurer

An Indian Reinsurer

A Foreign Insurer

A Foreign Reinsurer

Insurance Broker

In order to provide more clarity on business and operating issues, IRDAI has issued the Insurance Regulatory and Development Authority of India [Registration and Operations of International Financial Services Centre Insurance Office (IIO)] Guidelines, 2017 (“New Guidelines”) the same can be downloaded from the LAWS & REGULATIONS – IFSC section of the website.

Eligibility Criterion:

Indian insurer/ reinsurer:

An Indian insurer/ reinsurer to be registered with IRDAI

An Insurer/ reinsurer to be in continuous operations for preceding five years

Foreign insurer/ reinsurer

(Incorporated) Foreign insurer/ reinsurer to be registered or licensed for transacting insurance or reinsurance business in country of incorporation

Due authorization by home country authority to set up an IIO in India

Continuous operation of foreign applicant for preceding five years

Compliance with applicable provisions on assigned capital, paid-up equity capital, solvency margin and net-owned funds

Satisfactory track record of compliance in the country of incorporation or other country in which it is functioning

Foreign applicant is to be registered or certified in a National Regulatory Environment with whom the government of India has signed a DTAA

Minimum credit rating having at least good financial security characteristics in the manner prescribed from internationally renowned credit rating agencies for the last three years

Business Opportunities: (Insurance / Reinsurance Companies & Brokers)

Registered IFSC Insurance Office (IIO) / IFSC Insurance Broking office (IIBO) are permitted to transact direct insurance / reinsurance business from:

Within the IFSC in GIFT SEZ;

All other Special Economic Zones in India;

Outside India (Foreign to Foreign, Foreign to India & India to Foreign – Inward & Outward Business)

It would also be allowed to undertake Domestic Insurance & Reinsurance business in line with the provisions of IRDA regulations.

Registered IIOs / IIBOs would carry out dollar denominated transactions from the IFSC. The branch open in the IFSC would be considered as a foreign branch (non-resident India – as per RBI guidelines)

Retrocession up to 90% of reinsurance business permissible

Insurers

General Insurer can do following business from GIFT IFSC:

Undertake business of Units in IFSC, Units in SEZs all over India

Insure properties of Indian WOS / JV abroad & properties of overseas entities

Provide cover to exporters & importers

Provide Overseas Travel & Health Insurance to NRIs, PIOs & Foreign residents

Can execute all Offshore Business

Place Reinsurance business from GIFT IFSC

Allowed to issue insurance policy in foreign currency

Maintain foreign currency account with IFSC Banking Units located at GIFT IFSC

Reinsurers

Reinsurer can do following business from GIFT IFSC:

Undertake reinsurance business of IIOs in IFSC

Undertake reinsurance business of all SEZs in India

Undertake reinsurance business of foreign and Indian reinsurer in India which is placed outside India

Undertake foreign reinsurance business from IIOs

Allowed to issue insurance policy in foreign currency

Maintain foreign currency account with IFSC Banking Units located at GIFT IFSC

Insurance Brokers

IFSC Insurance Broking office (IIBO) are permitted to transact direct insurance / reinsurance business from GIFT IFSC. In order to facilitate conduct of Insurance/Reinsurance business, Brokers registered with the Authority are permitted to open IFSC Insurance Broking Office (IIBO) in the GIFT IFSC.

Application for Brokers – FORM IRDAI/SEZ/ Application, under the Circular IRDA/NL/CIR/MISC/019/01/2016, dated 28 -01-2016. (Attached)

IT & ITes

The GOG Under the IT/ITes policy 2016-2021 provide various incentives to IT/ITes firms operating out of GIFT SEZ. The incentives would help entities to reduce the operating cost significantly.

The entities would require the approval of development commissioner of the SEZ zone. The process for the application is mentioned at setting up tab. (redirect the user to setting up in new tab.)

Opportunities for IT/ITeS Companies in GIFT SEZ Area

Setting up R&D facilities of various IT companies

Setting up units in the field of BPO, KPO

Setting up operations of E-Commerce companies

Setting up Vertical IT/ITeS Parks

Web / Digital Content Development / ERP / Software and Application Development

Other Services Business

The entities having export business of the following services can set up unit at GIFT SEZ.

Trading

Warehousing

Research and development services

Computer software services, including information enabled services such as back-office operations

Call centers

Content development or animation

Data processing

Engineering and design, graphic information system services

Human resources services, insurance claim processing

Legal data bases, medical transcription

Payroll, remote maintenance

Revenue accounting

Support centres and web-site services

Off-shore banking services

Professional services rental/leasing services without operators

Other business services, courier services

Audio-visual services, construction and related services

Distribution services (excluding retail services)

Educational services, environmental services, financial services, hospital services, other human health services

Tourism and travel related services, recreational, cultural and sporting services

Entertainment services

Transport services, services auxiliary to all modes of transport, pipelines transport

Explanation: The expression “trading”, for the purposes of the Second Schedule of the Act, shall mean import for the purposes of re- export.

Information by. Shubham savaliya

GIFT ( Gujarat International Finance Tec-City )