Taiwan's financial regulator has signed a fintech cooperation deal with India's international finance authority, a small but positive step for Taiwanese banks pushing into the Indian market.

• Taiwan's Financial Supervisory Commission signed the agreement with India's IFSCA, the regulator for India's first international finance hub.
• The deal sets up referrals between the two regulators plus rules for sharing and protecting information.
• The Indian hub, GIFT City in Gujarat, offers lighter rules, low taxes, and trading in any freely convertible currency.
• Three Taiwanese banks have been cleared to open branches there, and CTBC Bank already opened one earlier this year.

Outlook: Expect more Taiwanese banks and fintech firms to move into GIFT City as Taipei keeps building regulator-to-regulator ties abroad.