The IFR Asia GIFT City Financing Roundtable will take place at the Grand Mercure Ahmedabad GIFT City on the morning of Wednesday October 9.
The Roundtable will start with a keynote speech from IFSCA Executive Director, Pradeep Ramakrishnan, leading into two 45-minute panels, covering the following topics:
Panel 1: Indian debt markets
- What are the prospects for bond and loan issuance from Indian companies? Are offshore bond markets starting to thaw or is the onshore market showing its depth? Is loan pricing beating bonds?
- How will infrastructure projects be funded?
- Is ESG finance beginning to gain ground in the domestic market, or will offshore financing lead the way?
- What are the prospects for private credit and the growth of non-bank lenders in India?
Panel 2: Developments at GIFT City
- Will offshore debt issuance move to GIFT City? What are the pros and cons for issuers and banks?
- How will the planned scheme to allow FPI investment in Indian green sovereign bonds through GIFT City impact the ESG market in India?
- Will tax exemptions and incentives be enough to encourage financial institutions and investment firms to set up shop in GIFT City? What work has been done to build the infrastructure and what more needs to be in place to create the right ecosystem?
- Are foreign banks now looking to deploy staff for India’s offshore businesses at GIFT City, instead of Singapore, Dubai, and Hong Kong? What competitive advantage does it have as a financial centre after the 10-year tax exemption for foreign banks ends?
Please note that registration for this event is now closed.
Event Background
Gujarat International Financial Tech City has quickly grown into a vibrant hub for derivatives trading and is set to play a key role in offshore debt financing for Indian corporates.
Tax incentives have helped to attract foreign banks to set up shop there, and issuers are quickly seeing the benefits of conducting their foreign currency borrowings through GIFT City. Power Finance Corp plans to set up an offshore lending subsidiary there, which would allow it to give foreign currency loans for the first time. This rapid industry adoption has raised hopes that GIFT City can play a long-term role in Indian companies’ financing plans even after the short-term incentives end.
India benefits from one of the world’s highest rates of economic growth, which, coupled with ambitious infrastructure plans, means the debt market there will continue to be lively, both onshore and offshore. The growing depth and versatility of the rupee debt market means more issuers can fund in their home currency, but there are often advantages in raising offshore debt, too. India is also planning to allow foreign investors to buy sovereign green bonds directly through GIFT City, which would boost inflows.
As the country funds its green transformation and issuers in carbon-intensive industries map out transition plans, the debt market, both onshore and offshore, plays a key role in funding that journey towards net zero.
The IFR Asia GIFT City Financing Roundtable will address these and other hot topics.
Event Details
Date: Wednesday October 9, 2024
Time: 09:30 - 13:15
Venue: Grand Mercure Ahmedabad GIFT City, Gandhinagar, Gujarat, 382355
Format: In-person event, complimentary attendance
Confirmed speakers
Keynote speaker
- Pradeep Ramakrishnan: Executive Director, IFSCA
Panel 1: Indian Debt Markets
- Ganeshan Murugaiyan: Head – Corporate Coverage & Advisory, India, BNP Paribas
- Sajal Kishore: Managing Director, Head of Asia-Pacific Infrastructure & PF Ratings, Fitch Ratings
- Jay Kothari: Global Head – International Business, DSP Asset Managers
- Vijay Krishnamurthy: Interim Chief Executive Officer, India INX
Panel 2: Developments at GIFT City
- Akshay Kumar: Head of Global Markets, India, BNP Paribas
- Sandip Shah: Head of IFSC Dept, Gujarat International Finance Tec–City Co. Ltd (GIFT City)
- Mr. Pranav Sharma: Partner, Cyril Armachand Mangaldas
- Deepak Sood: Partner, Head of Fixed Income, Alpha Alternatives
- Hetal Kotak: Additional General Manager Listing Sales, NSE International Exchange
Timings
09:30 - Registration
10:20 - Keynote speech
10:30 - Panel 1: Indian Debt Markets
11:15 - Break
11:30 - Panel 2: Developments at GIFT City
12:15 - Networking buffet lunch
13:15 - Close
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