In this podcast Dhairya and Akash unpack IFSCA’s new Third-Party Fund Management Services (TFMS) Framework at GIFT City. They trace the earlier “substance requirement” barrier that kept global GPs away, and explain how the new platform model lowers entry costs while preserving regulatory guardrails. The conversation highlights key features like eligibility, fund size, skin-in-the-game fixes, and FME liability. The key takeaway is that India now offers a credible mid-shore alternative for global managers to test waters at GIFT IFSC.