LEXI Secures Key Approval for Payment Services at GIFT City, Aims to Revolutionize Indian Exports

LEXI Money IFSC Private Limited has obtained in-principle approval from the International Financial Services Centres Authority to operate as a Payment Service Provider at GIFT-IFSC, Gandhinagar. This milestone aligns with India's $2 trillion export ambition and offers exporters access to faster, more compliant financial services.

In a significant development for India's export sector, LEXI Money IFSC Private Limited has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to function as a Payment Service Provider at the GIFT-IFSC in Gandhinagar. This strategic approval positions LEXI within an elite circle of fintech companies equipped to offer cross-border payment services, enhancing India's export infrastructure.

India aims to achieve $2 trillion in exports by 2030, according to targets set by the Government of India. The current estimated export stands at $860 billion for the fiscal year 2025-26. Central to reaching this goal is overcoming complex financial and compliance hurdles. LEXI's platform addresses issues such as delayed GST refunds, unclaimed export incentives, and compliance documentation, which traditionally hinder India's exporters.

Dipender Bhamrah, Co-founder and CEO of LEXI, emphasized, "The challenge for exporters extends beyond just processing payments; it encompasses the broader experience of engaging in international trade." With the IFSCA's approval, LEXI now holds the capacity to facilitate multi-currency settlements and offer a transparent regulatory environment essential for exporters and their foreign banking partners. The next regulatory milestone is obtaining the Certificate of Authorisation to fully operationalize services at GIFT City.