Indian brokers to enable buying global stocks through GIFT City
Big news for Indian investors: Top brokers like Groww, Zerodha, Angel One, Upstox, and Dhan are set to make it easy to buy global stocks (think Apple, Tesla, NVIDIA, even SpaceX) right from India through GIFT City.
Thanks to the RBI's Liberalized Remittance Scheme (LRS), you can invest up to $250,000 a year in international markets.
Fractional shares, 20% TCS, STT exempt
You can start with just $1 using fractional shares.
Signing up is simple: just finish your KYC online and transfer funds from your Indian bank account.
There are some fees: brokerage is about 0.25%, banks charge 1% to 1.5% for currency conversion, and there's a 20% tax collected at source (TCS).
The good part? Trades via GIFT City skip the usual Securities Transaction Tax (STT), so you save a bit extra on costs.