Riding on the current business process outsourcing (BPO) boom, the government plans to set up an exclusive special economic zone (SEZ) for financial services in Mumbai.
The services expected in the Mumbai international financial service centre (IFSC) include banking, insurance, factoring and forex hedging.
The service providers in the zone, which will be developed as India’s first IFSC, will cater to overseas clients. A preliminary feasibility study has indicated strong potential for such facilities, especially in Mumbai, highly placed sources in the commerce department said.
Source: The Economic Times (India)
