The International Financial Services Centres Authority (IFSCA) on August 10, 2023, issued the IFSCA Annual Report 2022-23
• The following objectives have been stated namely: -
(i) The main objective of IFSCA is to develop and regulate financial services in the International Financial Services Centres (IFSCs) established in India, with a mandate to create a world‐class financial ecosystem based on ease of doing business and to provide best in class regulatory system to make IFSCs in India a preferred global destination for international financial services.
(ii) It aims to facilitate the development of a strong base of international financial services in the country
(iii) It aims to promote IFSCs as a dominant gateway for international capital flows into and out of India
(iv) It aims to emerge as a regional and global hub for international financial services
(v) It aims to provide a state‐of‐the‐art unified regulatory framework, with robust regulation and supervisory technology aligned with international best practices
(vi) It aims to develop a strong global connection with leading international financial jurisdiction
(vii) It aims to provide a world‐class regulatory environment and develop IFSCs into leading Global Financial Centres with a primary focus on India's economic development apart from serving as a regional and global financial hub.
(viii)It aims to develop IFSCs into well‐diversified and globally competitive financial hubs for international banking, insurance, and capital market activities through a pro‐business environment, duly supported by a progressive regulatory architecture, state‐of‐the‐art technology and infrastructure, and talented financial professionals, which serve both the Indian economy and the region as a whole.
• It lays down the Year in Review: Overview of the General Economic Environment
I. Global Economic Assessment and Outlook
II. Domestic Economic Assessment and Prospects
•it further states the Review of Policies, Programmes, and Activities of the Authority.
