Secure your child’s overseas university education and build a resilient dollar-denominated wealth pool. GIFT City enables Indian residents and NRIs to invest seamlessly in global assets, hedging against currency depreciation with tax-efficient IFSC structures.
~3%
India’s Share of World
~3.7% / Yr
INR Fall vs USD (10Y)
$250,000 / Yr
LRS Limit Per Person
IFSCA
Single Regulator
The rupee storyOver the last 10 years the rupee has lost about 3.7% a year against the dollar — every foreign bill grows even when prices abroad don’t.
Concentration risk: an India-only portfolio depends on one currency, one economy and one set of regulators — while about 97% of the world’s listed equity value sits outside India.
$171.1 trillion across 113 markets · India $5.15 trillion
Data year 2026. Regional groupings by Aureva.
Every rupee of depreciation makes a foreign education, trip or home more expensive for someone who earns in rupees. Over the last ten years, the four major currencies Indian families spend in have risen by 3.7%–4.4% a year against the rupee.
Rebased to 100 on 27 Sept 2016 · latest 27 Sept 2026
| Currency | ₹ rate 27 Sept 2016 | ₹ rate 27 Sept 2026 | Rise in ₹ cost | Per year |
|---|---|---|---|---|
| US Dollar | 66.57 | 95.79 | +43.9% | 3.7% |
| Euro | 74.79 | 109.18 | +46.0% | 3.9% |
| British Pound | 86.34 | 126.96 | +47.0% | 3.9% |
| Singapore Dollar | 48.94 | 74.93 | +53.1% | 4.4% |
Source: Aureva analysis of daily market reference rates.
A $50,000 fee in 2016, rising 3% a year, costs about $67,196 today.
Illustrative: $50,000 cost and 3% a year education inflation. FX: USD/INR on 27 Sept 2016 and 27 Sept 2026.
Pick a destination and start year — we’ll show the rupee cost and how much of it is the currency.
Annual costs are indicative figures for a representative undergraduate programme (tuition + living), as of Jan 2026. Rupee fall defaults to each currency’s actual last-10-year rate; all inputs are assumptions, not forecasts.
No single market stays on top. Staying invested in just one market, with no global allocation, may not be the best strategy. Click a market to follow it through the years.
CY2016 to CYTD2026 (1 Jan – 30 Jun 2026)
Source: Bloomberg, as on 30 Jun 2026. Returns are total returns in USD. U.S. = S&P 500, China = CSI 300, South Korea = Kospi 200, India = Nifty 50, Japan = Nikkei 225, Taiwan = TAIEX (Net Return). CYTD2026 = 1 Jan to 30 Jun 2026. Past performance is not a reliable indicator of future results.
GIFT City (Gujarat International Finance Tec-City) is India’s only International Financial Services Centre, regulated by the IFSCA. It lets Indian investors build global, dollar-denominated portfolios legally under the RBI’s LRS route.
Build capital in US dollars, hedging against rupee depreciation while funding future global tuition, overseas property or travel.
Remit up to USD 250,000 per person each financial year under the RBI's Liberalised Remittance Scheme into regulated GIFT City funds.
GIFT City funds pay capital-gains tax themselves and pass on the net proceeds, so you don't calculate gains on every holding.
Exposure to US technology leaders, global indices, emerging markets and multi-asset strategies — without a foreign brokerage account.
Redeem in USD and use the proceeds for permitted purposes — such as overseas education — within LRS rules.
Every fund is registered with and supervised by the IFSCA, India's unified regulator for international financial services.
Domestic international funds keep closing their doors, and investing directly abroad brings paperwork and US estate-tax exposure. GIFT City funds sit in between.
| GIFT City outbound funds | Domestic international mutual funds | Direct overseas investment (LRS) | |
|---|---|---|---|
| Overseas investment cap | Not subject to the mutual fund cap — LRS limit applies | Industry-wide cap (currently US$7 bn) — AMCs pause fresh money and SIPs when it fills | None beyond LRS (USD 250,000 per person a year) |
| Currency | US dollars | Rupee units (foreign assets underneath) | US dollars |
| What you own | Units of an India-domiciled IFSC fund | Units of an Indian mutual fund | Specific global stocks and ETFs |
| Choice | A growing range of retail schemes and AIFs | Limited, and often closed to new money | Widest — any listed stock or fund |
| Tax on gains | Paid at fund level; redemption proceeds generally not taxed again in your hands | Taxed in your hands under Indian mutual fund rules | Capital gains taxed at your slab or applicable rates; 25% US withholding on dividends |
| Schedule FA | Debated — AMCs hold conflicting views; conservative filers still report | Not required | Mandatory, with detailed asset and peak-balance tracking |
| Schedule FSI | Generally not required — the fund pays tax and is domiciled in India | Not required | Required to report foreign dividends and capital gains |
| US estate tax | Generally outside the US estate-tax net — the fund owns the US shares; you own fund units | Not applicable | Exposed — 18%–40% on US assets above USD 60,000 if the investor dies |
| Minimum | Set by each fund (retail) · USD 150,000 (AIFs) | Low (a few thousand rupees) | Any amount |
Tax and disclosure treatment depends on your circumstances and each fund’s structure. This is a general comparison, not tax advice — confirm your filing position with a tax adviser.
All overseas investing by residents goes through the RBI’s Liberalised Remittance Scheme — up to USD 250,000 per person a year. Remittances above ₹10 lakh attract 20% TCS, which you can adjust against your final tax.
Retail schemes are open to anyone, with minimums set by each fund. Category III AIFs need USD 150,000 or more and may be close-ended or carry lock-ins.
Your money stays in USD. The fund pays capital-gains tax itself and passes on the net proceeds, so you don’t have to work out gains on your own.
KYC usually takes 3–7 working days. Units are allotted once the fund receives your remittance — timing depends on your bank and the fund.
Your bank's rupee-to-dollar rate includes a spread over the market rate, plus GST on the conversion — compare banks.
Banks charge a fee for each outward remittance, plus 18% GST on that fee — fewer, larger remittances cost less.
20% TCS on investment remittances above ₹10 lakh a year (counted across all your LRS remittances). It isn't an extra tax — adjust it against advance tax or salary TDS, or claim it in your return — but the money is tied up until then. Paying tuition directly? TCS is 2% (own funds) or nil (education loan).
Each fund's expense ratio — and, for feeder or fund-of-funds structures, the underlying fund's fee too. AIFs may also charge a performance fee.
Retail schemes may charge exit loads for early redemption; many AIFs are close-ended or locked in.
Click a scheme for its strategy, costs, exit terms and what to watch out for.
Open to all resident Indian investors, with minimums set by each fund.
| Scheme | Strategy | Strategy detail | Underlying / focus | Minimum |
|---|---|---|---|---|
| DSP Global Equity FundDSP Fund Managers IFSC | Active | Actively managed, valuation-first; concentrated 30–50 global stocks | Global equities held directly — developed markets at the core, with selective emerging-market exposure | USD 5,000 |
| Parag Parikh IFSC S&P 500 Fund of FundPPFAS Alternate Asset Managers IFSC | Passive | Passive fund of funds tracking the S&P 500 | S&P 500 UCITS ETFs — currently Invesco S&P 500 UCITS ETF (Acc) | USD 500 |
| Parag Parikh IFSC Nasdaq 100 Fund of FundPPFAS Alternate Asset Managers IFSC | Passive | Passive fund of funds tracking the Nasdaq-100 | Nasdaq-100-linked UCITS ETFs | USD 500 |
| HDFC International – Developed Markets Equity FundHDFC AMC International (IFSC) Ltd | Passive | Passive fund of funds tracking the MSCI World | UBS Core MSCI World UCITS ETF | USD 5,000 |
| HDFC International – Emerging Markets Equity FundHDFC AMC International (IFSC) Ltd | Passive | Passive fund of funds tracking the MSCI Emerging Markets | UBS Core MSCI EM UCITS ETF | USD 5,000 |
| Marcellus Global Equities FundMarcellus Investment Managers (IFSC branch) | Active | Active, high-conviction global compounders across four themes | Defence & aerospace, power generation, AI-linked capex (foundries, data centres) and luxury | USD 5,000 |
| Edelweiss Greater China Equity FundEdelweiss Asset Management (IFSC branch) | Feeder | Feeder into an actively managed Greater China fund | JPMorgan Funds – Greater China Fund (master fund) | USD 10,000 |
Fund details last reviewed 27 Sep 2026. See full comparison with fees and exit terms →
Navigating cross-border LRS compliance, currency hedging and IFSCA fund structures needs specialised expertise. Aureva provides end-to-end global wealth consulting.
We evaluate IFSCA-registered retail schemes and Category III AIFs — underlying assets, manager track record and fee structures — with zero in-house product bias.
We explain how LRS remittances, TCS and GIFT City fund subscriptions work, so you know what to expect at each step with your bank.
We match your investment horizon to future dollar needs — university tuition schedules, overseas property payments or global lifestyle goals.
Personalised consultation led by our founders to build a disciplined USD portfolio under IFSCA oversight — so your global aspirations and education goals are funded in dollars.
Aureva Capital is an AMFI-registered mutual fund distributor (ARN-346247). Fees shown on these pages are Regular-plan fees.
Designed for investors with specific international financial goals.
Build USD capital well ahead of time for university tuition in the US, UK, Canada, Australia, Europe, Singapore and beyond — without sudden currency shocks.
Plan the cost →Balance rupee exposure with global equities, US technology leaders and international funds.
Compare the funds →Use IFSC fund structures to participate in global and Indian markets with smooth USD capital movement.
Talk to our NRI desk →Prepare for overseas property, healthcare or multi-country family plans — and reduce direct US estate-tax exposure.
See the comparison →The practical questions investors ask before their first GIFT City investment.
Market intelligence & updatesNews and analysis on new funds, regulation and flows — from Aureva Insights.
Read the latest news →Yes. GIFT City (Gujarat International Finance Tec-City) is on the edge of Gandhinagar, Gujarat. Entities in its International Financial Services Centre are treated as non-resident for foreign-exchange purposes, which lets funds there operate in US dollars — but they remain under Indian law and Indian regulation.
The International Financial Services Centres Authority (IFSCA) — a single, unified regulator for banking, capital markets, insurance and pensions inside the IFSC.
Through the RBI's Liberalised Remittance Scheme (LRS), which allows up to USD 250,000 per person per financial year. Your bank converts rupees to dollars and remits them to the fund. Investment remittances above ₹10 lakh a year (counted across all your LRS remittances) attract 20% TCS, which you can adjust against your income tax.
Retail schemes are open to any resident investor, with minimums set by each fund. Restricted Category III AIFs usually need USD 150,000 or more (less for accredited investors), and are often close-ended or carry lock-ins (24 months is common).
Retail GIFT City schemes pay capital-gains tax at the fund level and reflect it in a post-tax NAV, so you don't calculate gains on each underlying holding. Category III AIFs are also taxed at the fund level, though the rules differ by structure. Your own position depends on your circumstances — check with a tax adviser.
Investing directly in US shares can expose your heirs to US estate tax of 18%–40% on US assets above USD 60,000. In a GIFT City fund, the fund owns the US shares and you own units of the fund, which generally keeps investors outside the US estate-tax net. The exact position depends on each fund's structure.
There is no single answer — it depends on your goals, horizon and future foreign-currency needs. Many investors start with a broad, low-cost global fund as the core and add active or regional funds around it. An Aureva adviser can help you size it for your situation.
Yes. Since the RBI's July 2024 circular, money held in a foreign-currency account in GIFT City can be used for any purpose permitted under LRS — including overseas education — within your USD 250,000 annual limit. The remittance itself is handled by your bank.
Global markets fall as well as rise, currency gains can reverse, and AIF lock-ins mean money may not be available early. Past returns don't guarantee future ones — size your allocation to your goals.
Yes — GIFT City funds are generally open to NRIs and foreign investors, though some exclude US and Canadian residents for regulatory reasons. These pages focus on resident Indians investing abroad under LRS.
GIFT IFSC funds are witnessing a sharp rise in retail participation as Indian investors seek global diversification amid stronger overseas market performance. Retail investors crossed 8,400 in the June 2026 quarter, becoming the largest investor segment. Growing product availability and constraints on conventional overseas mutual funds are further accelerating interest.
Schedule a confidential, non-binding discussion to explore GIFT City fund structures, LRS remittance routes, and dollar education planning for your child.
