Global Securities Markets Conclave (GSMC)

Vote of Thanks – GSMC 2.0 GSMC 2.0 concluded with the Vote of Thanks delivered by Mr. Saurabh Kumar, Manager, IFSCA, who expressed sincere appreciation to the distinguished speakers, panelists, partners, delegates and participants whose contributions shaped two days of meaningful dialogue and forward-looking deliberations. From global regulators and policymakers to market practitioners and institutional leaders, the collective exchange of ideas reinforced GIFT IFSC’s growing stature as a trusted gateway for global capital. Thank you for connecting, collaborating and contributing to the success of GSMC 2.0. We look forward to welcoming you again next year for the next chapter of this evolving global conversation. We are officially signing off! For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Panel Discussion: Navigating the Landscape of Equity and Debt Listings – Opportunities and Challenges At GSMC 2.0, the last panel examined evolving trends in international debt issuances and cross-border equity listings, with a focus on GIFT IFSC’s growing role in attracting global capital to fuel India’s growth story. While IFSC began primarily as a banking-led ecosystem, its capital markets architecture has expanded significantly. The debt segment is witnessing strong momentum with listings across green bonds, social bonds, masala bonds and other instruments. The equity ecosystem, built from the ground up, is now taking shape with an upcoming equity listing marking a key milestone. Panelists emphasised the importance of robust clearing and settlement infrastructure, transparency and fast turnaround to instill investor confidence. A well-defined playbook for cross-border listings, including clarity on solvency and regulatory processes, is essential to encourage issuers and investors alike. GIFT IFSC was described as both a two-way liquidity gateway and a sandbox for innovative products, enabling follow-on offerings and new structures beyond traditional IPOs. With integrated regulation under IFSCA and speed of execution as a competitive advantage, IFSC is well positioned to tap global capital and reinforce India’s ambition to become a leading international financial hub. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Panel Discussion: Global Market Access – Navigating the Future of Cross-Border Trading At GSMC 2.0, the panel discussed how global investing has shifted from being optional to essential in modern portfolios. With AI-driven market transformation and rising capital mobility, the focus was on IFSCA’s revamped framework for Global Access Providers and its role in positioning GIFT IFSC as a trusted gateway to global markets. IFSCA’s unified regulatory structure provides legal clarity and a streamlined pathway for accessing offshore markets through IFSC, without navigating multiple foreign jurisdictions. Efforts to ease payment bottlenecks, expand banking participation and enable video-KYC are steadily lowering structural barriers for resident Indians and NRIs alike. The discussion underscored that innovation in global access must be supported by robust risk management, investor protection and reduced transaction costs, ensuring global diversification is both accessible and secure. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Panel Discussion: Tokenisation of Real World Assets At GSMC 2.0, the panel examined how Distributed Ledger Technology is enabling the conversion of tangible and intangible assets into digital tokens, moving the conversation from pilot projects to institutional adoption. Tokenisation combines digitisation with decentralisation, creating verifiable, programmable and transactable assets. By fractionalising high value assets, it expands access, lowers costs and broadens demographic and geographic participation. However, increased trading velocity may introduce new risks, especially for traditionally illiquid assets. The consensus was that regulatory programmability and embedded safeguards are essential to balance innovation with stability. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

NSE International Exchange (NSEIX) signs a Memorandum of Understanding (MoU) with the Colombo Stock Exchange. Under the aegis of the MoU, Sri Lanka’s first Blue Bond is being dually listed on NSEIX, marking a significant milestone in strengthening cross-border capital market collaboration and sustainable finance initiatives. #NSEIX #GIFTNIFTY #CapitalMarkets #GIFTIFSC #GSMC #GSMC2.0 @balav1971

Address by Mr. Sunil Alvares, MD & CEO, CDSL Ventures Ltd. (CVL) At GSMC 2.0, Mr. Sunil Alvarez announced that CVL will soon operationalise its KYC Registration Agency platform in GIFT IFSC, marking a significant step in strengthening the compliance infrastructure of the ecosystem. He outlined the transformation of the KRA framework from a traditional registry model to a digital first, investor centric platform designed for seamless onboarding, global compatibility and end to end digital efficiency, while maintaining robust regulatory integrity. The introduction of CVL’s KRA in GIFT IFSC is expected to provide a strong boost to the ecosystem by simplifying compliance, enhancing investor experience and reinforcing the credibility and scalability of the IFSC market framework. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Our MD & CEO, Mr. V. Bala V, delivered a keynote session on the pivotal role of NSEIX in integrating and transforming cross-border financial services at GIFT IFSC. He highlighted how NSEIX is strengthening inbound and outbound market access, enabling global investors to participate in India-linked opportunities while facilitating Indian issuers and investors in accessing international capital markets. The session underscored NSEIX’s commitment to enhancing global connectivity, expanding product innovation, and reinforcing GIFT IFSC’s position as a gateway for cross-border investments. #NSEIX #GIFTNIFTY #CapitalMarkets #GIFTIFSC #GSMC #GSMC2.0 @balav1971

Address on Sovereign Ratings At GSMC 2.0, Ms. Revati Kasture highlighted the growing role of CareEdge Global Ratings, the first global credit rating agency from India and GIFT IFSC, in strengthening sovereign risk assessment from a distinct emerging market perspective. CareEdge has covered around 41 sovereigns, building a framework rooted in transparency, consistency and local insight. She emphasised that credibility in sovereign ratings depends on objective methodologies and contextual understanding rather than one size fits all benchmarks. The address reinforced the importance of diversified analytical voices in global credit markets and the need for rating frameworks that reflect evolving geopolitical and economic realities. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Adding a lighter moment to Day 2 of GSMC 2.0, a fun and engaging quiz was hosted by Shri Praveen Kamat post lunch. The interactive session brought together participants from across the ecosystem, blending knowledge, humour and healthy competition, and re energising the audience for the discussions ahead. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

*Address on New Regulations on Pension Ecosystem in IFSC* At GSMC 2.0, Shri Mahipal Reddy, Executive Director, IFSCA, outlined the forthcoming IFSCA (Pension Fund) Regulations, 2026, marking a significant step in laying the foundation of the pension ecosystem within GIFT IFSC. With the proposed regulations, IFSCA moves closer to fully realising its mandate as a unified regulator across securities markets, banking, insurance and pension products, as envisaged under the IFSCA Act. Shri Reddy provided a comprehensive overview of the new framework, which aims to establish a robust, transparent and globally aligned pensions framework, and also briefly touched upon the need for totalisation agreements for the growth of the pension ecosystem in GIFT IFSC. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

*Panel Discussion: Trillions in the Crossfire – Decoupling Climate Finance from Geopolitics* Continuing the trend of engaging conversation at GSMC 2.0, a panel, moderated by Shri Pradeep Ramakrishnan, Executive Director, IFSCA, examined the growing fragmentation in global climate finance. While technological solutions for the energy transition are progressing and India has made rapid strides in this direction, capital flows to emerging markets remain constrained by structural gaps, higher financing costs and geopolitical shifts. Speakers stressed the need for a fit for purpose financial architecture that leverages private capital, blended finance and stronger domestic equity and debt markets, which are considered to be critical, especially for sectors such as power and transport. Shri Pradeep Ramakrishnan also highlighted the various policy initiatives underway in IFSCA which are expected to provide further flip to serving India's need for sustainable finance. The core takeaway: climate action and development must move together, backed by transparent and resilient financial systems. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Panel Discussion: Innovations Driving the Next Revolution in Stock Exchange Trading At GSMC 2.0, industry leaders explored how innovation is redefining the fundamental architecture of capital markets. From AI driven trading and surveillance to DLT based settlement and evolving market structures, exchanges' roles are being fundamentally reconceptualised. The emergence of prediction markets in some jurisdictions has also led to blurring of the conventional role of the securities market. While AI and DLT bring efficiency and speed, the panel expressed the continued need for human oversight, regulatory balance and market integrity. Stay tuned for more updates on GSMC 2.0. This is an invite only event and is being broadcasted live on the GSMC YouTube channel: @GSMCIFSC" target="_blank" rel="nofollow noopener">youtube.com/@GSMCIFSC Watch the dynamic event live now - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Address on Consumer Awareness and Protection in Cross Border Financial Markets Day 2 of GSMC 2.0 commenced with an impactful address by Dr. Praveen Trivedi, Executive Director, IFSCA, who highlighted the evolving contours of consumer protection in an increasingly digital and cross border financial ecosystem. He noted that IFSCA exercises powers across securities, banking, insurance and pension products within GIFT IFSC, mirroring the roles of SEBI, RBI, IRDAI and PFRDA in domestic market in India. The central challenge, he emphasised, lies in balancing development with investor protection. Mis-selling remains a critical concern across financial markets, which is further compounded by the rise of AI and digitalisation, algorithm driven recommendations. He highlighted the unified principles-based consumer protection framework adopted by IFSCA, and the critical role of continuous capacity building amongst the regulated entities as well as the regulators. Stay tuned for more updates on GSMC 2.0. GSMC 2.0 is an invite only event and is being broadcasted live on - youtube.com/watch?v=B1D3oC… For more details, visit gsmc-ifsc.in @IFSCA_Official @NSEIndia @BSEIndia @india_inx @IIBXIFSC @nse_ix #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX #IIDI #NSEIX #NSEICC #INDIAICC

Bilateral Engagement at GSMC 2.0 At GSMC 2.0, the Chairperson of IFSCA, Shri K. Rajaraman, engaged in discussions with Mr. Ian Chung, Executive Director and Head of the Markets, Infrastructures and Intermediaries Department, MAS. 1/4

For more details, visit gsmc-ifsc.in #GSMC2026 #GIFTIFSC #IFSCA #GIFTCity #NSEINDIA #BSEINDIA #INDIAINX #IIBX 4/4

Dialogue reflected a shared commitment to building deeper, more integrated & globally competitive market frameworks. This is an invite only event & is being broadcasted live on the GSMC YouTube channel: @GSMCIFSCWatch" target="_blank" rel="nofollow noopener">youtube.com/@GSMCIFSCWatch dynamic event live now - lnkd.in/gsNSyyGM 3/4

The interaction focused on advancing exchange level collaboration, exploring opportunities in cross listing and market connectivity, and strengthening institutional ties between GIFT IFSC and Singapore’s capital markets ecosystem. 2/4

Bilateral Engagement at GSMC 2.0 During Global Securities Markets Conclave (GSMC) 2.0, the Chairperson of IFSCA, Shri Kalyanaraman Rajaraman, met with Mr. Michael Syn, President, SGX Group and Executive Director, Monetary Authority of Singapore (MAS). 1/4

On the sidelines of GSMC 2.0, the Chairperson of IFSCA, Shri K. Rajaraman held a bilateral meeting with delegates from ADGM FSRA, led by International affairs Executive director  Mr. Richard Philippe. For more details, visit gsmc-ifsc.in @gsmcifsc @ADGlobalMarket

This dialogue paves the way for enhanced cross-border financial services, sustainable finance initiatives, and shared regulatory excellence. 3/3