Groww Secures GIFT City Nod to Offer US Stocks and ETFs
Indian brokerages Zerodha, Upstox, Groww, and Angel One have secured regulatory approval to offer international investing through GIFT City, with services expected to launch in two to three months. The move caters to surging demand for US and global stocks among Indian investors.
Indian brokerage majors Zerodha, Upstox, Groww, and Angel One have reportedly obtained permission to provide international investing services through the Gujarat International Finance Tec-City (GIFT City), according to a Moneycontrol report citing sources. The launch is anticipated within two to three months, pending regulatory compliance and technology testing.
The approval taps into growing Indian investor appetite for global exposure, particularly to high-profile tech companies like SpaceX and upcoming IPOs of OpenAI and Anthropic. Zerodha and Upstox will operate as broker-dealers, routing trades through foreign partners such as ViewTrade International, Alpaca Securities, and Interactive Brokers. Meanwhile, Angel One and Groww will use Global Access Provider (GAP) registration and collaborate with US firms.
This development follows a trend of Indian brokers expanding global access. In June, Dhan launched US stock and ETF services through GIFT City via its subsidiary Raise IFSC Private Limited. SAMCO Securities also obtained a broker-dealer license from the IFSCA on June 11 for a global investing portal. Other firms like IndMoney, HDFC Securities, and Belong already facilitate US stock investing for Indian clients.
On the flip side, international firms are eyeing Indian markets via GIFT City. US-based Tryfacta has sought IFSCA approval for a $100-150 million IPO, which would be the first US-headquartered company to list on GIFT City exchanges. Indian investors could participate via IFSC-registered brokers under the RBI's Liberalised Remittance Scheme, with transactions in US dollars.
Source: Groww