For a long time, buying Apple or Microsoft shares from India felt more complicated than it should have been. You needed to open an account with an overseas broker, transfer money abroad, deal with a foreign custodian, and hope everything settled correctly across two different regulatory systems. It worked, but it was never smooth.

That changed in February 2026.

NSE’s international exchange at GIFT City launched what it calls the Global Access platform, and for the first time, Indian investors can buy US stocks while staying within an Indian-regulated framework. If you’ve heard about this and want to understand what actually changed not just the marketing version of it this guide is for you.

Why Investors Wanted US Stocks in the First Place?

Let’s start with the basic question: why bother?

India has great companies. The Nifty 50 has delivered solid long-term returns. So why look abroad?

A few reasons come up consistently.

The first is simple: some of the world’s most valuable businesses in semiconductors, cloud computing, consumer technology, electric vehicles are listed in the US, not India. If you want to invest in Nvidia’s AI story or Amazon’s logistics dominance, there’s no Indian equivalent.

The second reason is currency. When the rupee weakens against the dollar — which, historically, it tends to do over long periods — dollar-denominated assets gain additional value in rupee terms. Holding some portion of your portfolio in USD-denominated assets can work as a natural hedge.

The third is straightforward diversification. Being 100% invested in one country ties your portfolio to that country’s economic cycle, political environment, and regulatory changes. Spreading across geographies reduces that concentration.

None of this is new thinking. What was missing was a clean, regulated way to act on it.

How It Worked Before and What the Problem Was?

Until recently, the typical route for an Indian investor buying US stocks looked like this:

Your bank → RBI outward remittance → overseas broker platform → US custodian → your account

The RBI watched the money leave India under its Liberalised Remittance Scheme. The US Securities and Exchange Commission supervised the broker on the other end. But the link in the middle, the actual trading and custody layer sat outside Indian regulatory visibility.

Most platforms using this structure operated perfectly fine. But from a regulatory standpoint, once your money crossed the border, Indian authorities had limited oversight of what happened next. There was no Indian regulator you could approach if something went wrong with the overseas broker.

What GIFT City Changes?

GIFT City (Gujarat International Finance Tec-City) is India’s dedicated international financial hub. It operates under IFSCA (International Financial Services Centres Authority), which is a unified regulator for India’s international financial services.

When NSE IX (NSE’s international exchange at GIFT City) launched the Global Access platform in February 2026, it introduced a new layer into the investment chain:

Before: Your order → overseas broker → US market (limited Indian oversight)

Now: Your order → NSE IX at GIFT City → US market (supervised by IFSCA throughout)

The entities facilitating this access called Global Access Providers, or GAPs — are regulated by IFSCA. Platforms like RMoney operate as regulated access partners within this structure.

The practical difference for you as an investor: if something goes wrong, there is now an Indian regulatory body with jurisdiction over your investment route. That’s a meaningful shift.

How the Process Actually Works?

Opening an Account

The onboarding is entirely digital. You need your Aadhaar, PAN, and DigiLocker access. The process takes a few minutes, there are no charges, and you don’t need a separate demat account for holding international securities.

Sending Money

All investments go through RBI’s Liberalised Remittance Scheme. Under LRS, Indian residents can remit up to $2,50,000 per financial year (April to March) for permitted capital account transactions including equity investments. Your bank handles LRS compliance. The money goes into a designated USD account at a GIFT City bank.

Trading

Once your USD balance is credited, you can start buying. US markets open at 9:30 AM Eastern Time, which is 7:00 PM IST, and close at 4:00 PM Eastern, which is 1:30 AM IST. Prices show in real time during market hours. Settlement follows the US T+1 cycle your trades typically settle the next business day.

What You Can Buy?

Phase 1 of the platform offers access to 50+ large-cap US stocks — the names most Indian investors are already familiar with: Apple, Microsoft, Amazon, Tesla, Nvidia, Meta, and others in that category. ETFs tracking major US indices and sectors are also available. There’s also fractional investing, meaning you can buy a portion of a share rather than a full unit. You don’t need tens of thousands of rupees to start.

The Tax Side of Things – Which You Cannot Ignore?

This is where most investors underestimate what they’re getting into. US stock investing from India has three separate tax considerations, and you need to understand all three.

Tax Collected at Source (TCS) on Remittances

When you send money abroad under LRS, TCS applies above a threshold. For FY 2025-26 onwards, no TCS is deducted on remittances up to ₹10 lakh in a financial year. Above that, TCS is collected at 20%.

The important thing to understand: TCS is not a final tax. It’s an advance tax credit. Whatever is deducted gets adjusted against your total tax liability when you file your ITR. If your actual tax is less than what was collected, you get a refund.

To put it simply: if you remit ₹15 lakh, TCS applies on ₹5 lakh at 20%, meaning ₹1 lakh is collected upfront. You claim this back at ITR time.

Capital Gains on US Stocks

Under Indian tax law, US-listed stocks are treated as unlisted foreign securities. The holding period and rates are different from what you’re used to with Indian stocks.

Short-term — held for less than 24 months — gains are taxed at your applicable income tax slab rate. Long-term — held for 24 months or more — gains are taxed at 12.5% on amounts exceeding ₹1.25 lakh. Note that the threshold here is 24 months, not 12 months as it is for Indian listed equities.

Dividends

US companies withhold 25% tax on dividends paid to Indian investors before the money reaches you. Under the India-US Double Taxation Avoidance Agreement (DTAA), you can claim this as a foreign tax credit when filing in India, preventing you from being taxed twice on the same income.

Filing Requirements

You must file ITR-2, not ITR-1. All foreign assets must be disclosed under Schedule FA. Non-disclosure is treated seriously — penalties can go up to ₹10 lakh, and in certain cases, prosecution under FEMA is possible. This is not an area to take lightly. If you hold US stocks, get a CA to help with your return.

Currency Risk: The Variable Most People Forget

Here’s a scenario worth thinking through. Say you buy a US stock at $200. A year later it’s trading at $220, a clean 10% gain. You feel good.

But if the rupee has strengthened 8% against the dollar during that period, your actual rupee return on the trade is closer to 2%. The stock performed, but the currency worked against you.

This cuts both ways. If the rupee weakens, your returns get amplified in rupee terms. Some investors use US assets specifically as a hedge against rupee depreciation, which has historically been a slow but consistent trend.

The point is that you’re not just betting on stock performance. You’re simultaneously taking a view on two currencies. Most investors who are new to international investing don’t account for this in their return expectations — and then feel surprised when the numbers don’t match.

What the Platform Doesn’t Offer?

It’s worth being direct about limitations. No leverage, no margin trading. No options or derivatives. The stock universe is currently around 50 large-cap names if you want access to thousands of US stocks including mid-caps, small-caps, or sector-specific names outside that list, you’d need a traditional international brokerage account.

For most retail investors starting out with US exposure, 50 well-known large-cap stocks and ETFs is more than adequate. But if your strategy requires specific stocks or instruments beyond that, it’s something to factor in before deciding.

Is This Route Right for You?

The GIFT City Global Access platform is a good fit if you want simple, regulated exposure to the biggest US companies without navigating foreign brokerages. It’s particularly well-suited for long-term investors who want to add global diversification without complexity.

It’s not the right fit if you want advanced strategies, a wide stock universe, or instruments beyond equities and ETFs.

What it is, unambiguously, is a more regulated and more transparent route than what existed before. For retail investors who were always slightly uncomfortable with the offshore structure, that matters.

A Quick Note on Forward Outlook

NSE IX has indicated that Global Access is planned to expand to 30+ international markets including the UK, Europe, Japan, and Australia potentially by mid to late 2026. If that timeline holds, Indian investors could eventually build geographically diversified global portfolios entirely within the Indian regulatory ecosystem. That’s a meaningful shift in what domestic capital markets infrastructure can offer.

Disclaimer: This blog is for educational purposes only and does not constitute financial or investment advice. Taxation rules, LRS limits, and TCS rates are subject to change. Please consult a SEBI-registered financial advisor and a qualified CA before making investment decisions.