NSE IFSC will facilitate the trade of US stocks on the platform.
New Delhi: Indian investors can now directly invest in eight US stocks, including Alphabet (Google), Apple, and Tesla, starting from today (March 3), on the NSE International Exchange (NSE IFSC).
NSE IFSC, a wholly-owned subsidiary of the National Stock Exchange of India, will facilitate the trade on its platform. The complete process of trading, clearing, settlement and holding of US Stocks will be managed by IFSC Authority’s regulatory structure.
In the initial phase, Indian investors can invest in US stocks such as Alphabet (Google), Amazon, Tesla, Meta Platforms (Facebook), Microsoft, Apple, Netflix, and Walmart.
“This initiative is a first of its kind at IFSC where Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalized Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI),” NSE IFSC’ said in an August circular.
Here’s how to invest in US stocks via NSE IFSC:
On the official website, NSE IFSC said that investors can buy NSE IFSC US stocks in the same way they buy other Indian securities. Here’s how:
Step 1: Account Opening
Investors will need to open a trading and demat account with NSE IFSC registered brokers. As of now, popular trading platforms such as Zerodha and Upstox are missing from the list of registered brokers.
Step 2: Transfer Funds
In the next step, investors will be required to fund their Demat or trading accounts. NSE IFSC said that investors can transfer funds from a local bank account to NSE IFSC registered brokers’ bank accounts.
Step 3: Start Trading
Once your account is funded, you can start trading in the 8 US stocks mentioned above. “Once the fund reflects in your broker’s account, you are ready to trade in NSE IFSC US Stocks,” NSE IFSC said.
