Mirae Asset Mutual Fund is preparing to deepen India’s access to global innovation themes with plans to launch its first locally domiciled exchange-traded fund (ETF) in GIFT City. The proposed product is designed to provide outbound exposure to high-growth sectors such as artificial intelligence, semiconductors, and blockchain, areas that continue to attract strong institutional and retail interest worldwide.
The initiative marks a strategic expansion for Mirae Asset in India’s International Financial Services Centre (IFSC) at GIFT City, Gujarat. By using the IFSC framework, the asset manager aims to offer Indian investors a more efficient route to global equities while operating within a regulated, India-linked ecosystem.
Strengthening India’s Global Investment Gateway
GIFT City has steadily positioned itself as India’s bridge to international capital markets. Asset managers operating from the IFSC benefit from a liberalized regulatory structure, a competitive tax regime, and the ability to launch India-domiciled products with overseas exposure. Mirae Asset’s planned ETF aligns with this broader push to make GIFT City a hub for cross-border financial products.
According to industry participants, a locally listed ETF in GIFT City can help reduce operational friction for investors seeking global diversification. It also supports India’s ambition to onshore more sophisticated financial instruments that were previously accessed primarily through overseas accounts.
Focus on AI, Semiconductors, and Blockchain Themes
The proposed ETF is expected to track a global basket of companies aligned with artificial intelligence, semiconductor manufacturing, and blockchain infrastructure. These sectors sit at the core of current technological transformation, driven by rapid advances in generative AI, rising demand for high-performance chips, and expanding enterprise adoption of distributed ledger technologies.
AI and semiconductor stocks have remained in focus globally as data centres, cloud providers, and hardware manufacturers scale capacity. Blockchain-related firms, including those involved in digital assets infrastructure and enterprise solutions, continue to gain relevance amid broader digitalization trends. Long-term investors increasingly view these themes as structural growth drivers rather than short-term cycles.
Outbound Exposure Through a Regulated Indian Structure
One of the key advantages of a GIFT City ETF is the ability to offer outbound global exposure while remaining within an Indian regulatory perimeter. For investors, this can translate into improved transparency, familiar compliance standards, and potentially lower costs compared with investing directly overseas.
Mirae Asset Mutual Fund already has a strong presence in India’s ETF and passive investment space. The proposed GIFT City product would build on that experience, extending the firm’s global investment capabilities to a new investor base seeking international diversification through a domestic platform.
Competitive Landscape in GIFT City ETFs
Interest in GIFT City–based ETFs has been growing as more asset managers explore the IFSC route. Products offering exposure to global indices, US equities, and thematic strategies are gradually expanding the ecosystem. Mirae Asset’s focus on AI, semiconductor, and blockchain exposure could differentiate its offering in a market that is still at an early but fast-evolving stage.
Market observers note that thematic ETFs require careful index construction and risk communication, particularly in volatile technology segments. However, demand for such strategies remains robust among investors with a long-term horizon and appetite for innovation-led growth.
Implications for Indian Investors and Markets
If launched as planned, Mirae Asset’s first local ETF in GIFT City would underscore the growing maturity of India’s passive investment landscape. It would also highlight how the IFSC is enabling Indian asset managers to compete globally while serving domestic and international investors from a single jurisdiction.
As regulatory approvals progress and product details are finalized, the launch is expected to be closely watched by market participants. The move reflects a broader trend: Indian investors are increasingly looking beyond domestic markets, and asset managers are responding with structures that combine global reach, regulatory clarity, and operational efficiency, key elements for the next phase of India’s financial market development.
