Dr. Abhijit Phukon Appointed Member of IFSC Authority

Notification No. S.O. 4358(E)., Dated 24.09.2025

1. Introduction

The Ministry of Finance, Department of Economic Affairs, has issued a notification regarding the appointment of a new Member to the International Financial Services Centres Authority (IFSCA). The appointment underscores the Government’s commitment to strengthening the Authority with experienced professionals who bring domain knowledge and policy expertise to the table.

2. Appointment of Dr. Abhijit Phukon

Through this notification, Dr. Abhijit Phukon, Economic Adviser in the Department of Financial Services, has been appointed as a Member of the IFSCA. His inclusion brings valuable insights into financial sector regulation, policy formulation, and international financial services—areas critical to IFSCA’s expanding role in positioning India as a global financial hub.

3. Substitution of Earlier Entry

The notification also makes it clear that this appointment substitutes the earlier entry under serial number 1 of the 2020 notification, which first constituted the Authority. By doing so, the Government has formally updated the records to reflect Dr. Phukon’s name in place of the earlier entry, ensuring that the official framework governing IFSCA is up to date and accurate.

4. Significance of the Appointment

The appointment of Dr. Phukon is significant in view of IFSCA’s mandate to regulate and develop financial services, products, and institutions in India’s International Financial Services Centres (IFSCs). With his background in the Department of Financial Services, he is expected to contribute to policy harmonisation, global best practices, and the strengthening of India’s financial ecosystem within IFSCs.

5. Conclusion

By notifying the appointment of Dr. Abhijit Phukon as a Member of IFSCA, the Ministry of Finance has reinforced the Authority’s governance and regulatory capacity. This move not only updates the official constitution of the Authority but also enhances its ability to drive innovation, stability, and competitiveness in India’s international financial services domain.

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