Unlocking Talent: IFSC enables CFP professionals to act as Investment Advisors and Distributors in GIFT City

As the financial world transforms with innovations in fintech, cross-border investments, sustainable finance, and digital assets, India stands at a crucial juncture. To harness this moment, the country must align its human capital development with global financial standards. The evolving landscape demands professionals who are not only technically proficient but also internationally certified, digitally agile, and ethically grounded. Bridging the existing talent gap is not just an economic imperative - it’s a national opportunity.

GIFT City: A Launchpad for Global Financial Leadership

India’s vision of becoming a global financial powerhouse is steadily taking shape through the development of GIFT City in Gandhinagar, the country’s first International Financial Services Centre (IFSC). The International Financial Services Centres Authority (IFSCA), which is the integrated regulator for IFSCs in India, is, as its objectives of onshoring the offshore, being a hub for global finance and innovation. In this lies the role of making the IFSC a global talent hub. With various vertical such as banking, capital markets, funds, insurance, pension, bullion & commodities, and niche segments such as aircraft/ship leasing, IFSCA is poised to transform the GIFT-IFSC as a major hub for global finance This creates a unique opportunity to cultivate a globally aligned talent pool from within India.

With a projected 1.5 lakh jobs expected to be created in the coming years, GIFT City is rapidly emerging as a magnet for global finance. The unified regulatory allows for a seamless integration of various verticals positioning the IFSC as a truly international platform for professionals.

Unlocking Opportunities Through a Globally Competent Workforce

While India produces a significant number of finance graduates each year, a large portion remain underprepared for the nuanced, high-skill roles required in today’s complex financial markets. In 2023 alone, the sector reported a shortfall of approximately 1.8 million skilled professionals. This underscores a critical gap between academic output, market requirements and available manpower.

As regulators and standard-setting body, IFSCA and FPSB India, respectively, recognize the importance of equipping the workforce with globally aligned certifications. IFSCA has recently expanded its talent criteria to include the CERTIFIED FINANCIAL PLANNER® certification for key roles within the GIFT City IFSC and enable such professionals to act as Investment Advisors and Distributors therein. Additionally, as GIFT City grows as an international financial services destination, there is a rising demand for professionals who understand international financial frameworks, uphold rigorous ethical standards, and can cater to the sophisticated needs of Non-Resident Indians (NRIs) seeking investment opportunities and trusted financial advisors here in India. Credentials like the CFP® certification, now recognized by IFSCA for key roles within GIFT City, reflect a shift toward quality and accountability in financial advisory and wealth management services.

Towards a National Skilling Blueprint for Financial Services

The growing relevance of personal financial planning in a post-pandemic world makes it imperative to build capacity in this space. FPSB India, through its expanding community of over

3,215 CFP® professionals continues to support this national agenda by promoting ethical financial planning practices and empowering individuals to make informed financial decisions.

To unlock the full potential of India’s youth, what’s needed is a unified approach to skilling - one that seamlessly integrates academia, industry, and regulatory foresight. This includes updating curricula in line with evolving industry needs, scaling access to global certifications, and cultivating a culture of lifelong learning among finance professionals. Organizations like FPSB India are playing an important role in creating financial planning awareness and professional capacity in the country with its CFP® certification.

Acknowledging the need of the hour, some forward-thinking institutions like IIM Ahmedabad, NISM (National Institute of Securities Markets), SIMSREE (Sydenham Institute of Management Studies, Research and Entrepreneurship Education), and others have already begun offering integrated learning pathways that blend degrees with professional certifications like CFP® certification. IFSCA has also brought in foreign universities such as Deakin and Coventry in the GIFT City, which creates unique collaboration opportunities and integrated learning, particularly for finance professionals. These models enable students to develop both theoretical understanding and practical skills, significantly improving employability.

As India advances towards its Viksit Bharat vision, investing in globally benchmarked, ethically sound, and future-forward financial talent will not only help bridge domestic gaps but it will also establish India as a credible source of financial leadership for the world.

The article is authored by Pradeep Ramakrishnan, Executive Director – IFSCA & Krishan Mishra, CEO – FPSB India