By Dr Shailendra Kumar Pandey
In a landmark development for Indian retail investors, the NSE International Exchange (NSE IX), based in GIFT City, Gujarat, has rolled out its new Global Access platform. This enables resident Indians and Non-Resident Indians (NRIs) to directly trade in US-listed stocks and exchange-traded funds (ETFs), marking the first phase of a broader push toward global market access.
The platform went live with US market access in late February 2026, allowing trading in popular names such as Apple, Microsoft, Tesla, NVIDIA, Amazon, and others. NSE IX Managing Director and CEO V Balasubramaniam described the initiative as a “structural shift” that positions GIFT City as a gateway for both inbound and outbound investments.
“This is not just about the US market, which is of significant interest right now. Over the next three to six months, we plan to expand access to more than 30 global markets, starting with key G7 nations like the UK, Japan, and parts of Europe,” Balasubramaniam stated in interviews with multiple outlets.
Key Features and Benefits:
Fractional Investing — A major draw for retail participants. Investors can buy portions of high-priced shares instead of full units. For instance, with Apple trading around $272 per share, one can invest as little as $5 worth.
Digital Onboarding — Fully online process using PAN, Aadhaar-based KYC, and DigiLocker integration — often completed in under a minute with no physical paperwork.
Currency and Settlement — Trades are executed in US dollars with T+1 settlement. Rupee funds are remitted under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) (up to $250,000 per financial year per individual) and automatically converted.
No Separate Foreign Broker Needed — The platform routes orders through GIFT City-linked infrastructure and partnerships (e.g., with foreign brokers like View Trade), making it simpler and potentially more cost-effective than traditional overseas brokerage accounts.
Eligible Assets — Currently limited to equities and ETFs (some reports mention select debt instruments); derivatives, cryptocurrencies, and other restricted assets are not permitted under LRS.
The platform is currently in a soft-launch phase, with full partner onboarding expected soon. It targets retail investors seeking diversification into global tech, consumer, and other sectors.
How to Get Started:
Visit the NSE IX Global Access website or app and complete digital KYC.
Remit funds via an authorised Indian bank under LRS to a linked GIFT City account.
Once credited (in USD), place orders, build watchlists, and track portfolios in real time.
No additional demat account is typically required beyond the platform setup, and onboarding is free or low-cost in most descriptions.
Regulatory Context and Concerns
The launch operates fully within RBI’s LRS framework and leverages GIFT City’s tax-efficient IFSC regime (e.g., potential benefits like no stamp duty or securities transaction tax in certain cases). However, one report highlighted ongoing debate: a former SEBI official questioned jurisdictional clarity on investor protection, grievance redressal, and whether dealers selling foreign securities need domestic registration.
Exchange officials maintain that the setup is compliant and enhances regulated access compared to less formal overseas routes many investors currently use.
Tax and Risk Considerations
Investors must account for:
TCS (Tax Collected at Source) on LRS remittances (currently 20% in many slabs, reclaimable).
Indian taxation on foreign capital gains and dividends.
US withholding taxes (where applicable).
Currency fluctuation risks and global market volatility. Experts advise consulting a financial advisor or tax professional before investing.
This move democratises global investing for Indian retail participants, reducing reliance on foreign brokers or indirect routes like mutual funds. With US access already live and more markets on the horizon, NSE IX Global Access could reshape how Indians build diversified portfolios.
For the latest updates, visit the official NSE IX website or contact authorised partners. As always, investments carry market risks — read scheme-related documents carefully.
(The views expressed are solely those of the author.)
