PM Modi Will Launch India's First International Bullion Exchange IIBX On July 29

Prime Minister Narendra Modi will visit the Gujarat International Finance Tech-City (Gift City), India's first International Financial Services Center (IFSC) on July 29, 2022. The Prime Minister's Office informed that the Prime Minister, during his visit, will lay the foundation of the Building of the International Financial Services Center Authority (IFSCA), which is an integrated regulator for the development and regulation of financial products, financial services, and financial institutions in international financial services.

IFSCA's headquarters building is envisaged as a reputed structure, reflecting the increasing prominence and stature of GIFT-IFSC as a leading international financial center. The Prime Minister will launch India's first International Bullion Exchange, India International Bullion Exchange (IIBX) at the GIFT-IFSC. IIBX will facilitate efficient value search with responsible sourcing and quality assurances, in addition to promoting gold financialization in India. It will empower India to gain its rightful place in the global bullion market and serve the global value chain with integrity and quality. It also re-implements the Indian government's commitment to enabling India to affect global bullion prices as a major consumer.

Prime Minister NSE IFSC-SGX connect will also be launched