The International Financial Centres Authority (IFSCA) has approved its 200th Alternate Investment Fund (AIF), marking a significant milestone for GIFT City in Gujarat. Motilal Oswal’s Fund of Fund is the latest addition, joining 13 other AIFs that have relocated from jurisdictions like Singapore, Mauritius, and Dubai, contributing over $2.87 billion in commitments. To date, IFSCA has registered 141 Fund Management Entities, with a total corpus target of $45 billion. The authority aims to lower financing costs and simplify regulations to enhance competition and attract more investments into GIFT City, which has raised $12 billion in commitments.