Indian brokers get US stocks nod: Zerodha, Groww, Angel One and Upstox can now offer US shares
India’s biggest stock apps just got a big “yes”. Zerodha, Groww, Angel One and Upstox have reportedly got the go-ahead. They can now let Indian users buy US stocks. A stock is a small piece of a company. The “yes” came from the IFSCA. The IFSCA is a special rule-maker for India’s GIFT City money hub. This means crores of small investors could soon buy shares in big firms like Apple, Tesla and Nvidia. (A small, or “retail”, investor is a normal person who invests small amounts.) And they can do it right from apps they already use.
Here is what changed. Here is how it works. And here is why it matters for your money.
What exactly happened?
Four of India’s top stock apps got the green light. They can now offer investing in other countries. The green light comes from the IFSCA. That name is short for the International Financial Services Centres Authority. It makes the rules for GIFT City in Gujarat.
GIFT City is short for Gujarat International Finance Tec-City. It is a special area built to act like a world money hub inside India. From here, the four apps can let users buy US stocks and ETFs. An ETF is a basket of many stocks that you buy in one go. Think of it as one packet that holds many shares.
Reports say the service should start in about two to three months. First the apps must finish testing. They must finish the tech work. And they must finish the rule checks (this is called compliance).
Key facts at a glance
| Item | Detail |
|---|---|
| Brokers approved | Zerodha, Groww, Angel One, Upstox |
| Who gave the nod | IFSCA (regulator for GIFT City) |
| Route | Through GIFT City, India’s finance hub in Gujarat |
| Expected launch | Within 2 to 3 months |
| What you can buy | US stocks and ETFs |
| Groww active users (May 31, 2026) | 1.3 crore |
| Zerodha active users | 68.5 lakh |
| Angel One active users | 66.8 lakh |
| Upstox active users | 19.2 lakh |
Two ways the apps will work
The four apps will not all work the same way. They split into two types.
- Broker-dealers: Zerodha and Upstox will buy and sell the shares for you directly. A broker-dealer is a firm that buys and sells shares for you. They will pass your orders to big world firms. These firms are Interactive Brokers, ViewTrade International and Alpaca Securities.
- Global Access Providers (GAP): Groww and Angel One will work like a doorway. They link Indian users to apps in other countries. This GAP type started in August 2025.
The GAP type has one nice perk. It lets you take your money back to India with zero withdrawal fees. A withdrawal fee is a charge for taking your money out. So bringing your money home should cost less.
The regulatory route: what is LRS?
Until now, Indians who wanted US stocks used other apps. These apps ran under a rule called the LRS. LRS is short for the Liberalised Remittance Scheme. It is a rule from the Reserve Bank of India. It lets a person send money abroad each year. (To “remit” just means to send money.)
Under LRS, you can send up to a set amount abroad each year. You can use it to invest, travel or study. But there is a tax catch. If you send more than ₹10 lakh abroad in one money year, a 20% TCS is added. TCS is short for Tax Collected at Source. It is tax taken from you up front when you send the money. Here is the good news. You can claim this tax back later when you file your income tax return.
The new GIFT City way still works under this same LRS rule. The big change is simple. It is now built into apps you already trust. You do not need a separate outside app.
Why is there so much demand?
More and more Indian investors want to own US tech firms. The numbers show why.
- The Nasdaq gave over 40% returns in the last year. The Nasdaq is a big US stock market known for tech firms. A “return” is the profit you make on your money.
- SpaceX had a $75 billion IPO. An IPO is the first time a company sells its shares to the public. This IPO pushed trading up by 20-25% on apps that offer US stocks.
In short, US profits are strong. And big new listings grab headlines. Together they pull Indian money toward US markets.
Why it matters (especially for India and founders)
This is a quiet but big change for normal Indian investors.
- Easier access: Buying US stocks moves into big apps used by millions. You do not need a separate, less-known app.
- More trust: The GIFT City way follows clear rules. So it may feel safer than random outside apps.
- Diversification: You can spread your risk across both Indian and US markets. Diversification just means you do not put all your eggs in one basket.
- For founders: Money apps (called fintech apps) now fight to offer world investing, not just Indian stocks. The race to win users just got bigger. A founder is a person who starts a company.
One word of care: US stocks carry currency risk. This is the risk from money rates changing. If the rupee goes up against the dollar, it can cut your profit. And the TCS tax and paperwork still apply.
FAQ
Which brokers can offer US stocks now?
Zerodha, Groww, Angel One and Upstox have reportedly got the nod from the IFSCA. They can now offer US stocks through GIFT City.
When can I start buying US stocks on these apps?
Reports say the service should start in two to three months. First the apps must finish testing, tech work and rule checks (compliance).
Will I have to pay extra tax?
Money sent abroad under the LRS gets a 20% TCS if you cross ₹10 lakh in one money year. TCS is tax taken up front. You can usually claim it back when you file your income tax return.
The takeaway
India’s biggest stock apps will soon make buying US stocks much easier. The IFSCA nod through GIFT City brings world investing into apps that crores already use. If you plan to invest, first learn the LRS limits and the 20% TCS rule. Used with care, it is a clean new door to the world’s biggest market.
Source: Inc42 — Zerodha, Groww, Angel One, Upstox get nod to enable users to buy US stocks
