“benefit us” as a Individual investor or as a BSE shareholder?
BSE does have a exchange arm in the GIFT city, but NSE also has its own arn operating there. The REIT’s, ETFs, InvITs will be listed, so there will be some listing and trading revenue, but it will be small in the beginning. In future it could be huge, if our REIT/InvIT market becomes like US. US is 2/3rds of all the REIT/InvIT market in the world, ~1.1Trillion USD out of Global ~1.7Trillion USD (little dated as of 2016).
The govt intent is to get foreign specialists + develop the market in managing REIT/InvIT to own/manage assets in India. What this will do is get loads of capital (foreign – pension funds, long term funds, etc as well as Indian) to own hard assets in India, which is kind of sticky in nature. Assets in India will not be financed more in equity form rather than debt, possibly avoiding financial stress and less leverage.
So overall if this takes off in coming decades, we will have a sustainable funding of Infra assets, with the needed safeguards.
As a Indiavidual investor, we will be able to invest in some of these well managed REIT/InvITs with regular income and no capital gains. We do have to see the operational challenges, since for a Indian Investor GIFT city is like a foreign location, you need to have a separate accounting for all money/assets transferred there.
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