Standard Chartered’s India Unit to Launch U.S. Dollar Clearance from GIFT City on October 7

Standard Chartered’s India unit is set to launch U.S. dollar clearance services from the Gujarat International Finance Tec-City (GIFT City) on October 7, 2025. This move is part of the bank’s broader strategy to enhance its capabilities in international financial services and to support India’s growing trade and investment activity with global markets.

The launch is expected to facilitate faster and more efficient dollar-based transactions for clients operating within GIFT City. As a Special Economic Zone, GIFT City provides a legal and regulatory framework aligned with global financial hubs, making it an ideal location for cross-border financial activities.

This initiative follows the establishment of Standard Chartered’s existing infrastructure in GIFT City, where the bank has previously expanded its offerings in trade and treasury solutions. The new U.S. dollar clearance service will further strengthen the bank’s position in India’s evolving financial landscape and support the country’s push for greater integration with international financial systems.

The timing of the launch aligns with the Indian government’s efforts to position GIFT City as a global financial hub and to promote rupee-based transactions while also supporting the use of major international currencies like the U.S. dollar. Standard Chartered’s move is expected to attract multinational corporations and financial institutions seeking to conduct dollar-based transactions in an environment with robust regulatory compliance and high operational standards.

The U.S. dollar clearance service is designed to streamline payment processing, reduce settlement times, and improve liquidity management for clients. It will be integrated with the bank’s global systems, allowing for seamless connectivity with international markets and enhanced transaction transparency.

Standard Chartered’s India unit has been actively expanding its services in response to the rising demand for foreign exchange and trade finance solutions in the country. This latest development is a strategic step to meet the needs of clients engaged in global trade and investment, particularly those looking to leverage the advantages of the GIFT City ecosystem.

The launch of U.S. dollar clearance is expected to generate interest among businesses and financial institutions operating in or transacting with GIFT City. It represents a significant development in the bank’s commitment to supporting India’s financial infrastructure and facilitating international trade and investment.

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