In the absence of regulatory change, fund houses are exploring alternative routes, such as GIFT City. Anil Ghelani, head of passives at DSP Mutual Fund, pointed out that GIFT City funds do not have a blanket limit but rather a per-person limit on investments outside India of $250,000 per annum under the liberalised remittance scheme (LRS). “A policy change may happen whenever it has to, till then GIFT City can serve as a better route,” Ghelani added.
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