PM Modi launches India’s first international bullion exchange in Gujarat

Prime Minister Narendra Modi launched ‘India International Bullion Exchange (IIBX)’, the country’s first international bullion exchange near Gandhinagar, Gujarat.

This exchange will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to the financialisation of gold in India.

The prime minister also laid the foundation stone for the headquarters building of the International Financial Services Centres Authority.

Apart from that, PM Modi launched NSE IFSC-SGX Connect platform. Under this system, all orders on Nifty derivatives placed by members of Singapore Exchange Limited (SGX) will be routed to and matched on the NSE-IFSC order matching and trading platform.

The Connect platform will deepen liquidity in derivative markets at GIFT-IFSC.