Managing wealth across borders comes with persistent structural tension. NRI clients typically earn, save, and evaluate returns in US dollars, and their portfolios span global equities, fixed income, ETFs, and alternatives, all anchored in a single base currency.
When Indian markets enter the picture, the question IFAs usually wonder is “how do you invest in one of the world’s most compelling growth markets without stepping outside the dollar framework your broader portfolio is built on?”
USD-denominated structures make that possible. They allow NRIs to put money into Indian markets through internationally familiar routes, in the same currency they already invest in, without converting their entire approach to fit a domestic process.
The FPI Route Through GIFT City
The most significant structural development in this space has been the growth of the Foreign Portfolio Investor route via GIFT City, India’s International Financial Services Centre in Gujarat. GIFT City operates under a framework built specifically for cross-border capital, and it has become the primary gateway for dollar-denominated access to Indian markets.
In April 2024, SEBI enabled foreign funds set up at GIFT City to accept full investment from non-resident Indians and other Indian-origin investors, subject to disclosure norms in specific concentration scenarios. This opened the door for NRIs and OCIs to hold up to 100 percent ownership in global funds domiciled at GIFT City, a meaningful regulatory shift that broadens diaspora participation in Indian capital markets.
The FPI framework through GIFT City gives that access institutional credibility and regulatory clarity. India can now be approached through an internationally structured, dollar-oriented route designed specifically for overseas participants rather than retrofitted from a domestic investment process.
Multi-Market Allocation Through a Single Dollar Framework
The more powerful opportunity extends beyond India access alone. The platform model emerging around GIFT City and the broader IFSC framework supports access to a wider shelf of international instruments alongside Indian market exposure. Global equities, bonds, ETFs, structured notes, and alternative strategies can sit within the same architecture as India-linked allocations.
A client based in the US, UAE, or Singapore typically needs a combination of global and India-specific exposures. Managing those through disconnected platforms creates friction, information gaps, and real advisory inefficiencies. A unified dollar-based framework resolves much of that by treating India and global markets as parts of one coherent portfolio rather than two parallel ones.
Policy direction has reinforced this ecosystem. In July 2024, the RBI expanded the scope for remittances to IFSCs under the Liberalized Remittance Scheme and allowed resident Indians to open foreign currency accounts in IFSC Banking Units, further strengthening the foreign-currency infrastructure around GIFT City.
EQBAC: A Single Platform for Indian and Global Market Access
EQBAC is a global investment platform built for the kind of cross-border portfolio experience described above. Indian market access through USD-denominated structures sits alongside a broader suite of international instruments, all within one platform designed for globally diversified clients.
The operational model removes the friction that typically slows down multi-market investing. Product onboarding, trade execution, and product provider relationships are all managed within the platform. Clients are charged on an AMC basis rather than per transaction, which supports a cleaner, more consistent advisory relationship. Fraction trading options further expand how clients can participate across instruments and markets, without being constrained by minimum ticket sizes.
The investment conversation around NRI clients can therefore shift from a product-by-product discussion to a genuine portfolio architecture dialogue. India sits alongside global opportunities under one roof, with dollar-based investing serving as the common language across the entire allocation.
To discuss how EQBAC can be integrated into your investment practice, reach out to our team.
