Since IFSC is treated as 'foreign territory' from exchange control perspectives, capital infusion for setting up a fund in the IFSC is considered as 'outbound investment' for floating an offshore financial services subsidiarysource https://economictimes.indiatimes.com/industry/banking/finance/gift-citys-regulator-wants-more-say-in-fund-formation-for-business-district/articleshow/88040385.cms
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