The tie-up aims to bring trading of the SGX's Nifty futures contract, based on the NSE's blue-chip Nifty 50 index, to GIFT City, an international financial centre in western India. The bourses last year https://in.reuters.com/article/nse-sgx-giftcity/nse-and-singapore-exchange-win-approval-for-joint-derivatives-project-idINKCN1UW1DB received regulatory approval for the collaboration, which had been under discussion for months.

The exchanges said the deal aims to create a larger pool of liquidity for Nifty products, as well as boost activity at the GIFT City. India has been trying to lure foreign investors to the city that offers close to zero tax, dollar contracts, and top-notch infrastructure.

"The connect will broaden the international and domestic participant base and further strengthen the capital market ecosystem in GIFT city," NSE Chief Executive Officer Vikram Limaye said in a statement.

NSE and SGX had been locked in a dispute since 2018 after NSE sought to block SGX's launch of a set of new Indian derivatives products on grounds that the offerings infringed its intellectual property rights.

(Reporting by Chris Thomas in Bengaluru; Editing by Shailesh Kuber)