GIFT City Gains Traction Among NRIs as Policybazaar Scales Up Offerings
GIFT City Now Contributes Over 50% of Our NRI Customer Base: Bimal Menon, Principal Officer, Policybazaar GIFT City Branch
GIFT City Is Emerging as a Preferred Global Investment Hub: Lakshit Mahajan, Head – NRI Investment Business, Policybazaar
Policybazaar Strengthens GIFT City Presence, Targets Global Indian Investors with Dollar-Based Products
Policybazaar Expands in GIFT City, Unlocks New Investment Avenues for NRIs and Reinsurers
Bilkul Bazaar | By Rafat Quadri
Ahmedabad | 24 April 2026
Policybazaar has strengthened its presence in GIFT City, enhancing access to global investment opportunities for Non-Resident Indians (NRIs). Operating from India’s International Financial Services Centre (IFSC), the company now enables NRIs across more than 35 countries to invest in US dollar-denominated, market-linked insurance solutions.
GIFT City is also emerging as a strategic hub for Policybazaar’s global reinsurance operations, as multiple international players establish a foothold within the IFSC ecosystem.
Speaking to the media, Bimal Menon, Principal Officer at Policybazaar’s GIFT City branch, highlighted the growing importance of the region. He noted that GIFT City now contributes over 50% of the company’s NRI customer base and is increasingly becoming a preferred destination for global Indian investors. Key drivers include tax-free gains under Section 10(10D), access to dollar-denominated products, seamless fund repatriation, and a unified regulatory framework.
Lakshit Mahajan, Head of NRI Investment Business at Policybazaar, emphasized that the company’s presence in GIFT City is aimed at simplifying global investing. He described the IFSC as a compelling alternative to established financial hubs such as Singapore and Dubai, offering world-class infrastructure, favorable regulations, and significant tax advantages. Features such as digital onboarding, access to international investments, and currency diversification are accelerating its adoption among NRIs.
The platform allows investors to participate directly using NRE or overseas bank accounts through a fully digital process. Investment options include international funds as well as gold and silver ETFs. Customers benefit from flexible premium payment options, partial withdrawal facilities, and remote KYC, eliminating the need for physical presence. Additionally, tax efficiencies are supported through applicable benefits and Double Taxation Avoidance Agreements (DTAAs).
A notable shift in investor demographics is also emerging, with nearly two-thirds of participants in this segment falling within the 28–45 age group, reflecting increasing engagement from younger NRIs in global, dollar-based investments.
Policybazaar is positioning these offerings as long-term financial planning solutions. Select plans include features such as waiver-of-premium benefits, life cover, and USD-denominated payouts, ensuring financial continuity even during unforeseen circumstances.
From a reinsurance standpoint, GIFT City’s regulatory framework provides overseas insurers with greater operational flexibility. This is expected to facilitate capital deployment, strengthen underwriting capabilities, improve risk pricing, and expand product availability in the Indian insurance market.
As cross-border investment becomes more accessible, GIFT City is set to play a central role in shaping the future of global wealth creation for NRIs. With its strong regulatory environment, tax benefits, and digital-first approach, Policybazaar aims to deliver a seamless, globally integrated investment experience.
(Rafat Quadri can be reached at editorbilkul@gmail.com)
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