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Story summary
- Standard Chartered will launch CIO funds from Gujarat International Finance Tec-City (GIFT City) soon.
- BlackRock, with Jio Financial Services, got May approval to start two outbound funds from GIFT City before September.
- GIFT City funds are exempt from the $7 billion outbound-investment ceiling that Indian funds have exhausted.
- Shriram Wealth CEO Vikas Satija says GIFT City will be a key global financial centre by 2030, calling BlackRock’s entry a big sign.
