Bigul launches US stock investment for Indian, NRI clients via GIFT City

Bigul, the digital trading arm of Bonanza Portfolio Ltd., has launched a new investment service that allows Indian residents and non-resident Indians (NRIs) to invest in US stocks and exchange-traded funds (ETFs) through GIFT City. This new offering, announced on Thursday, is facilitated by Bonanza Portfolio (IFSC) Pvt. Ltd. in collaboration with US-based brokerage technology firm ViewTrade.

The service permits clients to begin investing with as little as $1, aiming to simplify the process of cross-border investing by leveraging GIFT City's International Financial Services Centre (IFSC) regulatory framework. This framework aligns with guidelines from the Reserve Bank of India (RBI), Foreign Exchange Management Act (FEMA), and FATCA. 

This partnership underscores Bonanza Portfolio's commitment to broaden the accessibility of global wealth creation. "This partnership embodies our commitment to democratising global wealth creation," stated Bhanu Pratap, CEO of Bonanza Portfolio (IFSC). "We aim to empower every investor to build futures beyond borders." 

The move positions Bigul among a growing number of Indian platforms responding to the increasing demand for overseas investment opportunities. GIFT City offers significant tax incentives and regulatory clarity, making it an attractive route for those seeking international exposure.

With Bigul's unified platform, users can manage domestic equities, mutual funds, and global assets in one place. The integration of the global investing offering into Bigul's Super App is expected to be completed by August. "We are expecting strong participation from our investors. Integration of the global investing offering into our Super App is already underway and likely to be available by August," stated Sanjay Shah, CTO of Bigul. This integration will streamline the investment process, making it more accessible and efficient for users.

ViewTrade plays a crucial role in this venture by providing the backend infrastructure, enabling access to the US equity market, including features like fractional share ownership and extended trading hours which align with US exchanges through India INX and NSE IFSC. The infrastructure supports over $500 billion in annual trade flows, emphasising the robustness of the platform. 

Bigul plans to integrate this global investing feature into its trading app by August, allowing clients to manage both domestic and international portfolios seamlessly from a single platform. This integration also includes tax-efficient investment strategies and compliance support for global assets. This initiative coincides with a broader trend among Indian brokerages to cater to retail clients' growing interest in portfolio diversification and wealth creation beyond local markets. 

GIFT City’s regulatory environment and tax incentives make it a preferred choice for Indian investors looking to diversify portfolios globally. The alignment with international standards and regulations provides a framework for safe and efficient investment practices.