GIFT City: In a significant step towards strengthening India’s International Financial Services ecosystem, the International Financial Services Centres Authority (IFSCA) and the Indian Institute of Corporate Affairs (IICA) have signed a landmark Memorandum of Understanding (MoU) to institutionalize a standardized corporate governance ecosystem at GIFT-IFSC.
The agreement marks a major milestone in reinforcing the Corporate Governance Ecosystem within India’s premier international financial hub.
The MoU was formally signed on 20 February 2026 at the IFSCA Campus in GIFT City, Gujarat, by Gyaneshwar Kumar Singh, Director General & Chief Executive Officer, IICA, and K. Rajaraman, Chairperson, IFSCA, in the presence of senior officials from both organisations and distinguished dignitaries.
The collaboration aims to build a structured and standardized Corporate Governance Ecosystem that aligns with evolving global standards and regulatory expectations.
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Strengthening the Corporate Governance Ecosystem at GIFT-IFSC
As the unified regulator of India’s International Financial Services Centre, the International Financial Services Centres Authority oversees a rapidly expanding ecosystem of financial institutions operating within the broader legal framework of the Companies Act, 2013, administered by the Ministry of Corporate Affairs. Entities operating within IFSC benefit from specific regulatory exemptions applicable to the jurisdiction.
Within this framework, the Corporate Governance Ecosystem at GIFT-IFSC plays a critical role in ensuring regulatory integrity, transparency, and institutional accountability.
The MoU establishes a structured collaboration between IFSCA and the Indian Institute of Corporate Affairs to enhance regulatory effectiveness and further institutionalize a robust Corporate Governance Ecosystem.
As a premier think tank under the Ministry of Corporate Affairs, IICA is uniquely positioned to provide institutional support in advancing corporate governance frameworks, strengthening regulatory capacity building, and offering policy advisory services that directly contribute to the Corporate Governance Ecosystem at GIFT-IFSC.
Structured Collaboration for Capacity Building and Policy Research
Under the terms of the MoU, the two institutions will collaborate in the areas of capacity building, policy research, and knowledge partnership to strengthen corporate governance standards within GIFT-IFSC.
The partnership is designed to enhance the Corporate Governance Ecosystem by equipping regulatory officers and IFSC-registered entities with the necessary knowledge and tools to comply with evolving global best practices.
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IICA will extend training and policy support to IFSCA and IFSC registered entities to facilitate compliance with changing regulatory standards and international governance practices.
As part of strengthening the Corporate Governance Ecosystem, IICA will conduct online certificate programmes, induction courses, and specialised training initiatives for IFSCA officers.
These programmes will cover areas such as Corporate and Allied Laws, Corporate Governance, Environmental, Social and Governance (ESG), and Cross-Border Transactions and Restructuring – core pillars of a resilient and standardized Corporate Governance Ecosystem within an international financial centre.
Speaking on the occasion, Gyaneshwar Kumar Singh stated that IICA looks forward to close collaboration with IFSCA in fostering a standardized Corporate Governance Ecosystem.
Highlighting the key areas of cooperation, he noted that the immediate focus would be on: rolling out customised capacity-building programmes; induction and leadership development initiatives; and policy research and advisory support.
Appreciating the impactful initiatives undertaken by IICA, K Rajaraman outlined the immediate action plan for operationalising the collaboration.
He emphasised the need for jointly delivered corporate governance programmes at GIFT City on an annual basis, including specialised courses for companies being incorporated within the IFSC jurisdiction.
The collaboration between IFSCA and IICA is expected to systematically institutionalize the Corporate Governance Ecosystem at GIFT IFSC by embedding structured training, policy research, and regulatory capacity-building into the operational framework of the financial centre.
