Zerodha, Groww, Angel One and Upstox have received approval to offer international and US stock investing through , according to a Moneycontrol report citing information available with the International Financial Services Centres Authority (IFSCA).
The approvals would add four of India’s largest retail brokerage platforms to the list of firms offering access to overseas equities through GIFT City. The services are likely to be launched over the next two to three months as the brokerages complete technology integration, testing and compliance processes, the report said.
IFSCA is the regulator for financial products, services and institutions operating in GIFT City’s International Financial Services Centre (IFSC).
According to the report, Zerodha and Upstox will operate as broker-dealers, while Groww and Angel One will offer the service under the Global Access Provider (GAP) framework.
The report added that Zerodha and Upstox are expected to route trades through overseas partners, including ViewTrade International, Interactive Brokers and Alpaca Securities.
The approvals come days after Dhan launched US stock investing services, underscoring growing interest among brokerage firms in providing global market access to Indian investors.
Brokerages prepare for rollout over the next few months
Demand for international investing has risen in recent years as Indian investors seek exposure to sectors such as artificial intelligence, semiconductors, electric vehicles and space technology.
Several platforms, including Smallcase, INDmoney and HDFC Securities, already offer access to through different structures. The entry of Zerodha, Groww, Angel One, and Upstox could further broaden retail investors’ access to overseas markets.
According to the Moneycontrol report, the four platforms are expected to spend the next few months completing technology integration, testing and compliance requirements before launching the offerings.
GIFT City emerges as a new gateway to global markets
GIFT City, located in Gujarat, is home to India’s International Financial Services Centre, a special financial zone established to facilitate cross-border financial services and transactions.
To broaden access to overseas securities, IFSCA introduced the Global Access Provider (GAP) framework, allowing regulated entities operating from GIFT City to offer investors access to foreign stocks and other international securities through an India-based regulatory structure.