Bimal Menon, principal officer, Policybazaar’s GIFT City Branch, said, “Among NRIs, GIFT City is gaining strong momentum as a preferred investment hub. This shift is driven by benefits including tax-free gains u/s 10(10D), availability of US Dollar denominated market linked insurance products, seamless repatriation, and a single unified regulator.”
Gift City:Policybazaar is expanding its offerings for for non-resident Indians(NRIs) through its operations in the GIFT City,India’s sole International Financial Services Centre (IFSC).
Policybazaar is enabling NRIs across 35+ countries to access investment-linked insurance solutions denominated in US dollars. GIFT City is also emerging as a base for its global reinsurance operations as several international players establish their presence in the IFSC.
Bimal Menon, principal officer, Policybazaar’s GIFT City Branch, said, “GIFT City now contributes to more than 50% share of our NRI customer base . It is gradually becoming the preferred destination for global indian investors. Among NRIs, GIFT City is gaining strong momentum as a preferred investment hub. This shift is driven by benefits including tax-free gains u/s 10(10D), availability of US Dollar denominated market linked insurance products, seamless repatriation, and a single unified regulator.”
Lakshit Mahajan, Head of NRI Investment Business, Policybazaar, added, “With digital onboarding, access to global investments, currency diversification and seamless cross-border financial planning, it is becoming a preferred destination and a credible alternative to global financial hubs like Singapore and Dubai.”
NRI customers can invest directly through their NRE or overseas bank accounts using a fully digital platform. They can choose from international funds, as well as Gold and Silver ETFs, with the flexibility to pay premiums in different ways and withdraw funds partially if needed.
The entire process from onboarding to investing can be completed online, with remote KYC and no need to be physically present. Certain policies also offer tax benefits, and Double Taxation Avoidance Agreements (DTAAs) help reduce the chances of being taxed in more than one country.
Nearly two-thirds of Policybazaar’s investors in this segment fall in the 28-45 age group, which indicates a younger NRI cohort actively allocating to global, dollar-based instruments.
Policybazaar is also positioning these solutions as long-term financial planning tools. Certain plans incorporate waiver-of-premium options that ensure continuity of investment in case of unforeseen events, alongside life cover and USD-denominated payouts.
As global investment opportunities become increasingly accessible, GIFT City is poised to play a pivotal role in shaping the future of cross-border wealth creation for NRIs.
With its robust regulatory framework, tax advantages, and seamless digital infrastructure, Policybazaar aims to empower NRI investors with solutions that combine global diversification, long-term financial security, and ease of investing from a single, future-ready platform.
GIFT City represents a future-ready ecosystem that brings together technology, sustainability, and globally benchmarked urban development standards.