IQ-EQ is now licensed to do business in the Gujarat International Finance Tec-City (GIFT City) in India.

Located between the country’s business capital, Ahmedabad, and its political capital, Gandhinagar, GIFT City is India’s first ‘smart city’, sponsored by the Indian government with the vision of creating a world-class finance and IT hub connecting India to the world.

It is home to India’s global bullion exchange and its maiden International Financial Services Centre (IFSC), with globally benchmarked regulations, taxation, policies and more.

IQ-EQ’s new office is centrally located within GIFT City and adds to the firm’s existing operations in Mumbai providing fund administration services to the domestic Indian market, as well as its 30+ years of international support for India-based clients.

Following the relevant regulatory approvals, IQ-EQ is licensed to deliver full-fledged administration, compliance and corporate secretarial services to alternative investment funds (AIFs) and other structures domiciled in GIFT City’s IFSC.

Heading up IQ-EQ’s GIFT City and Mumbai operations is Atul Muchhala, managing director, India, supported by growing teams in both locations.

Atul said: “With GIFT City performing as India’s international investment gateway, our new office presents an exciting opportunity to service the Indian asset management and investment community for both their inbound and outbound investments, as well as for global entities to invest in India using GIFT structures. We’re very proud to be part of the thriving GIFT City community and hope to be a significant contributor to its burgeoning ecosystem.”

Sridhar Nagarajan, IQ-EQ’s regional managing director for Africa, India and the Middle East (AIME), added: “IQ-EQ is now present in four locations across India with a combined staff strength of 300 and growing exponentially. Our offices in Mumbai and GIFT City are serving the Indian market while our Noida and Hyderabad teams provide support to other IQ-EQ offices worldwide.

"The launch of our GIFT City business marks the continuation of an exciting growth journey in the AIME region, following the opening of our Dubai and Abu Dhabi offices last year. Our ambition now is to continue growing our presence in the buoyant Indian market, cementing IQ-EQ as a leading investor services provider in the world’s fifth-largest and fastest-growing major economy.”