Overview
- The approvals, which were reported Tuesday, June 16, 2026, cover Zerodha, Groww, Angel One and Upstox and allow them to offer international and US equities via GIFT City under the IFSCA framework.
- Zerodha and Upstox will operate as broker-dealers while Groww and Angel One will act as Global Access Providers under the GAP structure that GIFT City introduced to simplify cross-border retail investing.
- Brokers plan to route execution through international clearing partners such as ViewTrade, Interactive Brokers and Alpaca with ViewTrade already holding GAP approval and others expected to come online later.
- Firms say a phased launch will follow technology integration, testing and compliance work and is likely to take about two to three months before customers can trade live.
- Existing rules will still shape investor costs and flows because transactions use the RBI Liberalised Remittance Scheme, attract 20% TCS above ₹10 lakh and remain subject to Indian capital gains tax, and competition from early entrants such as Dhan (Raise) and SAMCO could speed adoption and price moves.