India International Bullion Exchange (IBX)
Recently the Prime Minister has launched India’s first India International Bullion Exchange (IBX) in Gandhi Nagar.
It has been launched at the International Financial Services Center (IFSC) of ‘Gujarat International Finance Tec-City’ (Gift City/GI CITY).
This will ensure the standard price of gold in the country.
This will make it easier for small bullion sellers and jewelers to do business in the precious metal and bring transparency.
Significantly, India is the second largest consumer of gold in the world after China. In addition, the Prime Minister has also laid the foundation stone of the IFSC Authority’s headquarters building.
It is the first and only IFSC in India on the lines of IFSC established in UAE, Singapore and Hong Kong.
Source – The Hindu
