IFSCA–IICA Unveil Strategic Roadmap to Institutionalize a Standardized Corporate Governance Ecosystem

Gujarat :21/2/26: In a significant step towards strengthening India’s International Financial Services ecosystem, the International Financial Services Centres Authority (IFSCA) and the Indian Institute of Corporate Affairs (IICA) signed a landmark Memorandum of Understanding (MoU) at the IFSCA Campus, GIFT City in Gujarat. The MoU was formally signed on 20 February 2026 by Shri Gyaneshwar Kumar Singh, Director General & Chief Executive Officer, IICA, and Shri K. Rajaraman, Chairperson, IFSCA, in the presence of senior officials from both organisations and distinguished dignitaries.

As the unified regulator of India’s International Financial Services Centre, IFSCA oversees a rapidly expanding ecosystem of financial institutions operating within the broader legal framework of the Companies Act, 2013, administered by the Ministry of Corporate Affairs, with specific regulatory exemptions applicable to entities operating in IFSC. As a premier think tank under the Ministry of Corporate Affairs, the Indian Institute of Corporate Affairs (IICA) is uniquely positioned to provide institutional support in advancing corporate governance frameworks, regulatory capacity building, and policy advisory services.

Against this backdrop, the Memorandum of Understanding establishes a structured framework for collaboration between IFSCA and IICA in the areas of capacity building, policy research, and knowledge partnership aimed at enhancing regulatory effectiveness and strengthening corporate governance standards within GIFT-IFSC.

IICA will extend training and policy support to IFSCA and IFSC- registered entities to facilitate compliance with evolving regulatory standards and global governance practices. IICA will conduct online certificate, induction, and specialised training programmes for IFSCA officers covering areas such as Corporate and Allied Laws, Corporate Governance, Environmental, Social and Governance (ESG), and Cross-Border Transactions and Restructuring.

Speaking on the occasion, Shri Gyaneshwar Kumar Singh stated that IICA looks forward to close collaboration with IFSCA in fostering a standardized corporate governance ecosystem. Highlighting the key areas of cooperation, he noted that the immediate focus would be on: rolling out customised capacity-building programmes; induction and leadership development initiatives; and policy research and advisory support.

Appreciating the impactful initiatives undertaken by IICA, Shri K. Rajaraman, Chairperson, IFSCA, outlined the immediate action plan for operationalising the collaboration. He emphasised the need for jointly delivered corporate governance programmes at GIFT City on an annual basis, including specialised courses for companies being incorporated within the IFSC jurisdiction.