Jane Street earned $2.3 billion from trading in India, representing more than a 10th of its total net trading revenue last year.
SEBI is investigating Jane Street's derivatives trades following allegations of manipulation, while a separate probe by NSE was closed last month.
High-frequency trading firms like Jane Street have benefitted from the retail investor-led options frenzy in India, with the market witnessing significant growth in recent years.
Equity options trading in India has slowed down this year due to restrictions imposed by SEBI to protect retail traders, leading to lower growth in fees from options traded on the NSE.