- What is Being Launched
- What is JioBlackRock
- What is GIFT City, and Why Does it Matter Here
- Where JioBlackRock Fits in
JioBlackRock Asset Management plans to launch two funds that invest outside India within the next two months. One will focus on global equities and the other on emerging markets. Both will operate through GIFT City, with the stated aim of giving Indian investors a way to invest in overseas markets. Here is what is happening and the context around it.
What is Being Launched
JioBlackRock has said it will start with two outbound funds, one global equities fund and one emerging markets fund. The company shortlisted around 10 products from BlackRock's global range after speaking to family offices, wealth advisers and distributors, and picked these two to begin with.
This is the first step in a larger plan. Over the next three to four years, JioBlackRock intends to build a presence across most mutual fund categories, with a pipeline of up to 20 products. It has been said that inbound funds, which allow foreign investors to invest in India, may be considered at a later stage.
What is JioBlackRock
JioBlackRock began offering mutual funds in India last year and currently runs 14 schemes across equity, debt and index funds, with assets of around ₹18,000 crore. Close to ₹13,000 crore of this sits in fixed-income funds.
So far, it has sold its funds only through the direct route. It has said it now plans to offer them through distributors as well.
What is GIFT City, and Why Does it Matter Here
GIFT City (Gujarat International Finance Tec-City) is India's international financial services centre. Funds set up there are regulated by the IFSCA, not by SEBI. This distinction is the reason these funds matter right now.
SEBI places an industry-wide limit on how much Indian mutual funds can collectively invest overseas. That limit is $7 billion. Through April and May 2026, several fund houses, including Axis, Nippon India and Franklin Templeton, stopped taking fresh money into their international funds as this limit neared exhaustion. At one point, fewer than 30 international mutual funds were still open to new investors.
Because GIFT City funds are regulated under the IFSCA and not SEBI, they do not fall under this $7 billion cap. They can keep accepting fresh investments even when domestic and international funds have paused. This is why GIFT City has become a more common route for resident Indians looking for global exposure.
Where JioBlackRock Fits in
JioBlackRock is not the first to offer outbound funds from GIFT City. DSP launched its Global Equity Fund in June 2025, Edelweiss launched a Greater China fund in March 2026, and PPFAS launched S&P 500 and Nasdaq 100 fund-of-funds from GIFT City in May 2026. JioBlackRock's two funds add to this existing set of options rather than opening a new category.
Things to Keep in Mind
GIFT City investing works differently from a regular mutual fund, and a few points are worth understanding:
- The LRS route. Money is invested in foreign currency through the Liberalised Remittance Scheme (LRS), which has a limit of $250,000 per person per financial year. This limit is shared across all foreign spending, including travel, education and other investments.
- TCS. Tax collected at source applies to LRS remittances above ₹10 lakh in a financial year. This is not a permanent cost; it can be adjusted or claimed back when filing income tax returns.
- How you invest. SIPs are generally not available in GIFT City funds, and each investment usually needs a separate remittance. Minimum investment amounts for outbound funds are often around USD 5,000.
- Tax treatment. Taxation depends on the specific fund structure and can differ from domestic funds, so it is worth checking the details for each fund.
- Still developing. The GIFT City fund space is relatively new and growing, so the number of products and the process itself are still evolving.
The Bottom Line
JioBlackRock's planned funds are part of a wider shift that is making global investing more accessible to Indians through GIFT City, at a time when the usual domestic route has been constrained. Whether these funds suit any individual depends on their goals, the amount they plan to invest and their comfort with the LRS process. Mutual fund investments are subject to market risks, and it is sensible to read the scheme documents and consult a registered adviser before investing.