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By Ventura Research Team 3 min Read
NSE IX Global Access platform enabling Indian investors to buy US stocks from GIFT City under RBI LRS
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NSE International Exchange (NSE IX), based at India’s GIFT City, has launched its Global Access platform, enabling resident Indian investors to directly invest in US-listed stocks and exchange-traded funds (ETFs). The United States market has gone live in Phase 1 of the rollout, with plans to expand access to more than 30 global markets over the next three to six months, including key G7 nations such as the UK, Japan, and parts of Europe.

Managing Director and CEO V Balasubramaniam described the initiative as a structural expansion of Indian investor access beyond domestic markets, positioning NSE IX as a gateway for both inbound and outbound investments.

Outbound Investments Under RBI’s LRS Framework

The Global Access platform operates under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS). Under this framework, resident individuals are permitted to remit up to $250,000 per financial year for permitted overseas transactions, including investments in foreign securities.

All transactions on the platform are fully compliant with LRS regulations. Investors remit funds in Indian rupees through authorised banking channels, which are then converted into US dollars before being deployed for investments. Every individual investor can remit up to $250,000 in a single financial year under the current rules.

Dollar-Denominated Trading Structure

All trades executed through the platform are denominated in US dollars. Once an investor completes the remittance process, the funds are credited in dollar terms to the trading account. Investors can then view their available trading power and limits directly on the web or mobile interface and begin placing buy or sell orders in US-listed securities.

The infrastructure has been designed to mirror the experience of operating a domestic trading account, while incorporating overseas remittance compliance requirements.

Fractional Investing for Retail Participants

A key feature of the Global Access platform is fractional investing. Retail investors can purchase portions of high-priced US stocks instead of buying entire shares. For instance, if a stock is priced at $272, investors are not required to invest the full amount; they can buy shares worth $5, $31, or any other value-based amount.

This functionality enables smaller-ticket participation and broadens access to global technology majors and other high-value stocks. Fractionalisation is enabled through arrangements with foreign broker partners to facilitate value-based execution.

Fully Digital Onboarding and KYC

The account opening and verification process is entirely digital and can be completed in approximately 30 to 45 seconds. Investors can authenticate using Aadhaar, PAN, and DigiLocker. Once KYC is completed, funds can be remitted to a designated GIFT City bank account linked to the platform’s trading infrastructure.

Investors can create customised watchlists, track global securities, and manage portfolios through both web and mobile interfaces.

Investment Universe and Product Scope

The product universe is restricted to asset classes permitted under the LRS framework. Currently, the platform allows investments in equities, ETFs, and select debt instruments. However, derivatives trading and digital assets such as cryptocurrencies are not permitted. NSE IX has explicitly clarified that derivatives and crypto products are excluded due to regulatory restrictions under LRS norms.

At present, the platform is focused on resident individual investors. Institutional participation, including mutual funds launching outbound investment schemes, is expected to be introduced in Phase 3.

Regulatory Oversight and Structure

The platform is regulated by the International Financial Services Centres Authority (IFSCA) and operates from GIFT City. Investors can begin trading without opening a separate demat account. NSE IX has established a subsidiary, NSE IX Global Access, and initiated a soft-launch phase before onboarding broader partner networks.

Scale of Operations and Market Liquidity

Highlighting the exchange’s scale, Balasubramaniam stated that NSE IX currently records average monthly trading volumes of over $100 billion. This translates to more than $5 billion in average daily trading volume, primarily driven by its flagship GIFT Nifty derivatives contract following the migration of offshore trading activity.

Strategic Vision for GIFT City

NSE IX’s broader vision is to become the preferred financial gateway for channeling inbound investments into India while simultaneously facilitating outbound investments to global markets. The expansion of global access through GIFT City aligns with India’s strategy to deepen the International Financial Services Centre ecosystem and route cross-border investment flows through domestic financial infrastructure.

With US markets already live and access to more than 30 international markets planned within six months, the Global Access platform marks a significant step in integrating Indian retail investors into global capital markets under a regulated and compliant structure.

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