{"id":3818,"date":"2026-08-24T18:26:43","date_gmt":"2026-08-24T12:56:43","guid":{"rendered":"https:\/\/valugenius.in\/blog\/?p=3818"},"modified":"2026-08-24T18:26:43","modified_gmt":"2026-08-24T12:56:43","slug":"gift-city-ifsc-valuation-rules-for-global-funds","status":"publish","type":"post","link":"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/","title":{"rendered":"GIFT City &#038; IFSC Valuation Rules: What Global Funds Need to Know Before Routing Capital Into India"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#GIFT_City_IFSC_Valuation_Rules_What_Global_Funds_Need_to_Know_Before_Routing_Capital_Into_India\" >GIFT City &amp; IFSC Valuation Rules: What Global Funds Need to Know Before Routing Capital Into India<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#What_Is_GIFT_City\" >What Is GIFT City?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#Whos_Actually_Watching_Valuation_Here\" >Who&#8217;s Actually Watching Valuation Here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#The_Rules_That_Actually_Matter\" >The Rules That Actually Matter<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#1_NAV_Has_to_Be_Tied_to_an_Independent_Valuer\" >1. NAV Has to Be Tied to an Independent Valuer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#2_FME_Category_Changes_How_Much_Scrutiny_You_Get\" >2. FME Category Changes How Much Scrutiny You Get<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#3_AIF_Valuation_Norms_Are_Stricter_Than_People_Expect\" >3. AIF Valuation Norms Are Stricter Than People Expect<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#4_The_%E2%80%98Specified_Fund_Tax_Definition_Just_Got_Wider\" >4. The &#8216;Specified Fund&#8217; Tax Definition Just Got Wider<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#5_Custodians_and_Valuation_Service_Providers_Can_Temporarily_Sit_Outside_IFSC\" >5. Custodians and Valuation Service Providers Can (Temporarily) Sit Outside IFSC<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#Where_Global_Funds_Usually_Trip_Up\" >Where Global Funds Usually Trip Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#Why_This_Actually_Matters_for_Capital_Allocation\" >Why This Actually Matters for Capital Allocation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#Getting_Professional_Help_Before_You_Route_Capital\" >Getting Professional Help Before You Route Capital<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/valugenius.in\/blog\/gift-city-ifsc-valuation-rules-for-global-funds\/#Final_Thoughts\" >Final Thoughts<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"GIFT_City_IFSC_Valuation_Rules_What_Global_Funds_Need_to_Know_Before_Routing_Capital_Into_India\"><\/span>GIFT City &amp; IFSC Valuation Rules: What Global Funds Need to Know Before Routing Capital Into India<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>Global funds evaluating India exposure are increasingly looking at GIFT City as an entry point, and for good reason. Nearly two-thirds of external commercial borrowings raised by Indian entities this year have already been routed through it, and the government has extended tax holidays for units operating there to twenty out of twenty-five years. But before any capital moves, fund managers need to understand one thing clearly: valuation inside GIFT City&#8217;s International Financial Services Centre doesn&#8217;t work the same way it does in Cayman, Luxembourg, or Mauritius. The framework is newer, still evolving, and comes with its own compliance expectations. Getting this wrong doesn&#8217;t just create friction with auditors, it can jeopardize the tax treatment your fund is counting on. This piece walks through what global funds actually need to know about GIFT City&#8217;s valuation rules before routing capital into India.<\/p>\n<p>[\/vc_column_text][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_GIFT_City\"><\/span>What Is GIFT City?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>GIFT City, short for Gujarat International Finance Tec-City, is India&#8217;s first International Financial Services Centre (IFSC), located in Gandhinagar, Gujarat. It functions as a purpose-built financial district designed to let global institutions run financial services business out of India under a distinct regulatory regime, separate from the rest of the domestic Indian economy.<\/p>\n<p>In practical terms, that means:<\/p>\n<ul>\n<li><strong>A dedicated regulator.<\/strong> Everything inside GIFT City falls under the International Financial Services Centres Authority (IFSCA), a single unified authority, rather than the split oversight of SEBI, RBI, and IRDAI that applies elsewhere in India.<\/li>\n<li><strong>Foreign currency operations.<\/strong> Funds and entities set up in GIFT City typically operate in US dollars or other foreign currencies, and are treated as non-resident for many regulatory purposes, even though they&#8217;re physically located in India.<\/li>\n<li><strong>A broader mandate than just funds.<\/strong> GIFT City hosts banking units, insurance operations, capital markets activity, fintech firms, and asset management, alongside the fund management ecosystem.<\/li>\n<li><strong>A liberalized entry point into India.<\/strong> For global investors, it offers international-style access to Indian and overseas assets without the typical friction of setting up an offshore structure and then routing money back in separately.<\/li>\n<\/ul>\n<p>Essentially, GIFT City lets global capital get exposure to India while operating under rules that look and feel closer to what international fund managers are used to elsewhere, rather than the standard domestic Indian regulatory framework. With that foundation in place, the next question is how valuation specifically is regulated inside this ecosystem.<\/p>\n<p>[\/vc_column_text][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whos_Actually_Watching_Valuation_Here\"><\/span>Who&#8217;s Actually Watching Valuation Here?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Everything inside GIFT City sits under one regulator, the International Financial Services Centres Authority, or IFSCA. That&#8217;s a bit different from what you&#8217;d expect from India, where valuation compliance is usually split across SEBI, RBI, and the Income Tax Department depending on what kind of transaction you&#8217;re doing.<\/p>\n<p>IFSCA governs fund managers through the Fund Management Regulations, and any entity managing money inside GIFT City has to register as a Fund Management Entity, or FME. There are three tiers here, and which one you fall under changes how closely your valuations get watched.<\/p>\n<ul>\n<li>Authorised FME \u2014 a lighter structure, generally used by family offices or proprietary funds<\/li>\n<li>Registered FME (Retail) \u2014 for funds open to retail global investors, mutual-fund style schemes<\/li>\n<li>Registered FME (Non-Retail) \u2014 for AIFs, venture funds, and other vehicles aimed at sophisticated investors<\/li>\n<\/ul>\n<p>The retail category comes with the tightest valuation obligations, for obvious reasons. Non-retail funds get more flexibility, but flexibility isn&#8217;t the same as no rules.<\/p>\n<p>[\/vc_column_text][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Rules_That_Actually_Matter\"><\/span>The Rules That Actually Matter<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There&#8217;s a lot of regulatory text out there, and most of it isn&#8217;t relevant to a fund manager deciding whether to route capital through GIFT City. Here&#8217;s the part that actually changes how you&#8217;d run your valuation process.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_NAV_Has_to_Be_Tied_to_an_Independent_Valuer\"><\/span>1. NAV Has to Be Tied to an Independent Valuer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This is probably the single most important thing to know. Under the Fund Management Regulations, a scheme&#8217;s assets have to be valued by an independent service provider, such as a fund administrator, custodian, credit rating agency, or a valuer registered with the Insolvency and Bankruptcy Board of India, not something the fund manager works out internally and self-certifies. The IFSCA Authority has since gone a step further and formally approved an explicit linkage between that independent portfolio valuation and NAV computation, closing a gap that used to leave some room for interpretation. If you&#8217;re used to jurisdictions where a manager can mark its own book with light oversight, this is a real shift.<\/p>\n<p>In practice, this means you need a valuer on record who is genuinely independent of the fund management entity, not a related party wearing a different letterhead. Regulators everywhere have started paying closer attention to related-party valuation, and IFSCA is clearly building that expectation in from day one rather than bolting it on later.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_FME_Category_Changes_How_Much_Scrutiny_You_Get\"><\/span>2. FME Category Changes How Much Scrutiny You Get<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A Registered FME running retail schemes is going to face closer valuation checks, more frequent reporting, and stricter disclosure timelines than an Authorised FME running a proprietary book. If you&#8217;re structuring a new entry into GIFT City, it&#8217;s worth deciding early which category actually fits your investor base, because it isn&#8217;t just a paperwork choice. It directly shapes your ongoing valuation and compliance workload.<\/p>\n<p>[\/vc_column_text][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_single_image image=&#8221;3823&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_shadow_border&#8221;][vc_column_text]<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_AIF_Valuation_Norms_Are_Stricter_Than_People_Expect\"><\/span>3. AIF Valuation Norms Are Stricter Than People Expect<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>AIFs set up in GIFT City IFSC follow Category I, II, and III classifications, similar to the domestic SEBI framework, but they operate in foreign currency and are treated as non-resident for most regulatory purposes. That non-resident treatment is attractive, it opens up investments into both Indian and overseas assets without the usual domestic caps. But it doesn&#8217;t loosen the valuation requirement. If anything, because these funds sit at the intersection of two regulatory worlds, valuers tend to be more conservative, not less.<\/p>\n<p>Pari-passu treatment among investors during distributions has also now been formally approved as part of this framework, which means valuation timing matters more than it might elsewhere. If your NAV is stale by even a quarter, it can distort who gets what during a redemption or distribution event.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_The_%E2%80%98Specified_Fund_Tax_Definition_Just_Got_Wider\"><\/span>4. The &#8216;Specified Fund&#8217; Tax Definition Just Got Wider<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This one caught a lot of people off guard earlier this year. CBDT amended Rule 157 of the Income-tax Rules, widening the definition of a specified fund to bring in a broader set of Category I and Category II AIFs registered in GIFT IFSC. The effect is that more funds now qualify for the tax treatment reserved for specified funds, but that treatment isn&#8217;t automatic. It rests on the fund actually meeting registration and structural conditions, and valuation records are part of how that eligibility gets checked during a tax filing or an assessment.<\/p>\n<p>If your fund&#8217;s tax position depends on this classification, and for most global funds routing capital through GIFT City it does, your valuation documentation needs to be clean enough to survive that scrutiny, not just clean enough to satisfy IFSCA.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Custodians_and_Valuation_Service_Providers_Can_Temporarily_Sit_Outside_IFSC\"><\/span>5. Custodians and Valuation Service Providers Can (Temporarily) Sit Outside IFSC<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>One practical concession worth knowing about: the regulator has allowed temporary use of regulated custodians outside IFSC while local capacity develops. This matters because valuation quality is only as good as the underlying data feeding it, and custodial data is a big part of that. If you&#8217;re setting up now, you don&#8217;t have to wait for every service provider to physically relocate to Gandhinagar before you can get moving, but you should still confirm the custodian you&#8217;re using is properly regulated wherever it sits.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_Global_Funds_Usually_Trip_Up\"><\/span>Where Global Funds Usually Trip Up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A few patterns show up again and again with global funds new to GIFT City.<\/p>\n<ul>\n<li>Assuming the valuation approach they use in Cayman or Luxembourg will just transfer over as-is<\/li>\n<li>Treating the independent valuer requirement as a formality rather than a real appointment with real substance<\/li>\n<li>Not accounting for how the FME category they choose affects reporting frequency down the line<\/li>\n<li>Waiting until a redemption event to think seriously about NAV timing and pari-passu treatment<\/li>\n<li>Missing the connection between valuation records and the specified fund tax classification<\/li>\n<\/ul>\n<p>None of these are dealbreakers. They&#8217;re just the kind of thing that&#8217;s cheap to fix before you launch and expensive to fix after.<\/p>\n<p>[\/vc_column_text][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_This_Actually_Matters_for_Capital_Allocation\"><\/span>Why This Actually Matters for Capital Allocation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>GIFT IFSC isn&#8217;t a niche experiment anymore. Nearly two-thirds of external commercial borrowings raised by Indian entities this year have been routed through it, up sharply from a year earlier, and the government has extended the tax holiday for units there to twenty years out of a twenty-five year block. That&#8217;s a strong signal that capital is already moving this direction, and it&#8217;s only going to get busier.<\/p>\n<p>Which is exactly why getting the valuation groundwork right matters more now than it did two years ago, when the ecosystem was smaller and everyone was still figuring things out together. Regulators tend to get less forgiving as a market matures, not more.<\/p>\n<p>[\/vc_column_text][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Getting_Professional_Help_Before_You_Route_Capital\"><\/span>Getting Professional Help Before You Route Capital<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This is exactly the kind of area where trying to self-serve on valuation ends up costing more time than it saves. A firm that actually understands both the IFSCA framework and how Indian tax authorities read specified fund eligibility can save you from redoing work six months in.<\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/company\/valugenius\/\" target=\"_blank\" rel=\"noopener\"><strong>ValuGenius<\/strong><\/a> is an accounting firm and chartered accountant practice based in Mumbai, working with funds and companies on exactly this kind of cross-border complexity. The team&#8217;s valuation services in Mumbai span business valuation services, corporate valuation for M&amp;A and regulatory filings, <a href=\"https:\/\/valugenius.in\/esop-valuation-india.html\" target=\"_blank\" rel=\"noopener\"><strong>ESOP valuation<\/strong><\/a>, and <a href=\"https:\/\/valugenius.in\/fema-valuation-foreign-investment.html\" target=\"_blank\" rel=\"noopener\"><strong>FEMA valuation advisory<\/strong><\/a> for foreign investment into India, the kind of work that comes up constantly for anyone routing capital in or out of the country.<\/p>\n<p>If you&#8217;re a fund manager weighing whether to route your next allocation through IFSC, it&#8217;s worth having that conversation with a <a href=\"https:\/\/valugenius.in\/\" target=\"_blank\" rel=\"noopener\"><strong>CA firm in Mumbai<\/strong><\/a> that handles this daily, before the structuring decisions get locked in, not after.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts\"><\/span>Final Thoughts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>GIFT City has genuinely become a serious option for global funds looking at India, and the tax and regulatory incentives are real. But the valuation framework underneath it is still young, and it rewards funds that take it seriously from the start. Independent valuers, the right FME category, clean documentation tied to the specified fund definition. None of it is complicated on its own. It just needs to be handled properly before the capital moves, not fixed afterward.<\/p>\n<p>If you&#8217;re a fund manager thinking about GIFT City for the first time, talk to people who deal with this framework regularly. It&#8217;ll save you a lot of back-and-forth later.<\/p>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_single_image image=&#8221;3825&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_shadow_border&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] GIFT City &amp; IFSC Valuation Rules: What Global Funds Need to Know Before Routing Capital Into India Global funds evaluating India exposure are increasingly looking at GIFT City as an entry point, and for good reason. Nearly two-thirds of external commercial borrowings raised by Indian entities this year have already been routed through it, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,47],"tags":[81,65,61,83,84],"class_list":["post-3818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-valuation","tag-aif-valuation","tag-business-valuation-services","tag-esop-valuation","tag-ifsc-fund-valuation","tag-sebi-valuation"],"_links":{"self":[{"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/posts\/3818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/comments?post=3818"}],"version-history":[{"count":5,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/posts\/3818\/revisions"}],"predecessor-version":[{"id":3826,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/posts\/3818\/revisions\/3826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/media\/3824"}],"wp:attachment":[{"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/media?parent=3818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/categories?post=3818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/valugenius.in\/blog\/wp-json\/wp\/v2\/tags?post=3818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}