IFSC stands for "INTERNATIONAL FINANCIAL SERVICES CENTERS". An IFSC caters to clients outside the jurisdiction of the domestic economy. These centers deal with financial flows, products and financial services across borders.
Examples of global financial centers are London, New York and Singapore. However, Shanghai and Dubai are emerging IFSCs around the world and aspire to play a global role in the coming years. A panel of experts headed by former World Bank economist Percy Mistry presented a report on the creation of Mumbai as an international financial center in the year 2007. http://www.citybusinessinfo.com/blog/post/this-is-how-ifsc-will-look-like-in-10-years-time