JioBlackRock’s Global Funds Through GIFT City: A Guide for Indian Investors

Two Global Funds Proposed

JioBlackRock Asset Management plans to launch two outbound investment funds through GIFT City within the next two months. One fund will focus on global equities, while the other will invest in emerging markets. The objective is to provide eligible Indian investors with access to overseas markets through funds established in India’s International Financial Services Centre.Before selecting these products, JioBlackRock reportedly evaluated around 10 funds from BlackRock’s global product range and consulted family offices, wealth advisers and distributors.

A Wider Product Expansion Plan

The proposed funds form part of a broader expansion strategy. Over the next three to four years, JioBlackRock intends to establish a presence across most mutual-fund categories and introduce up to 20 products.The company may also consider launching inbound funds, through which foreign investors could obtain exposure to Indian markets, at a later stage.

JioBlackRock’s Current Position in India

JioBlackRock began offering mutual funds in India last year. It currently manages 14 schemes across equity, debt and index-fund categories, with total assets of approximately ₹18,000 crore.Nearly ₹13,000 crore of these assets are invested in fixed-income funds. Until now, JioBlackRock has offered its schemes only through the direct route, but the company also plans to make its funds available through distributors.

Why GIFT City Matters

GIFT City Gujarat International Finance Tec-City is India’s International Financial Services Centre. Funds established in GIFT City are regulated by the International Financial Services Centres Authority (IFSCA) rather than SEBI.This regulatory distinction is important because domestic mutual funds are subject to an industry-wide overseas investment limit of US$7 billion.As the limit approached exhaustion, several fund houses including Axis Mutual Fund, Nippon India Mutual Fund and Franklin Templeton stopped accepting fresh investments in certain international schemes during April and May 2026. At one stage, fewer than 30 international mutual funds remained open for new investments.

The GIFT City Advantage

Funds established in GIFT City operate under the IFSCA framework and are not counted within SEBI’s US$7 billion overseas investment limit applicable to domestic mutual funds.Accordingly, GIFT City funds may continue accepting investments even when certain domestic international mutual-fund schemes have suspended fresh inflows, subject to applicable IFSCA, FEMA, LRS, eligibility and fund-specific requirements.This has made GIFT City an increasingly relevant route for resident Indian investors seeking global investment exposure.

Existing Outbound Funds from GIFT City

JioBlackRock will not be the first fund manager to introduce outbound funds from GIFT City.DSP launched its Global Equity Fund in June 2025. Edelweiss introduced a Greater China fund in March 2026, while PPFAS launched S&P 500 and Nasdaq 100 fund-of-funds from GIFT City in May 2026.JioBlackRock’s proposed global-equity and emerging-market funds will therefore expand the existing range of GIFT City-based overseas investment options, rather than create an entirely new product category.

Key Takeaway

The proposed launches could give eligible Indian investors access to global equities and emerging markets through the GIFT City framework. However, investors should review the final scheme documents, investment strategy, charges, taxation, liquidity, currency risk and eligibility conditions before investing.