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PM Modi to launch IIBX at GIFT City on July 29

Prime Minister Shri Narendra Modi will inaugurate India International Bullion Exchange (IIBX) at GIFT City, Gandhinagar, Gujarat on July 29, 2022 at 4.00 pm. IIBX is set to be operationalized this week at the Gujarat International Finance Tec-City (GIFT City), India’s maiden international financial services centre (IFSC).

Union home minister Shri Amit Shah, Union finance minister Smt Nirmala Sitharaman, Gujarat CM Shri Bhupendra Patel along with Union ministers of state (finance) Shri Pankaj Chaudhary and Dr Bhagwat Kishanrao Karad will also be present at the event.

The IIBX will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to financialization of gold in India. This will empower India to gain its rightful place in the global bullion market and serve the global value chain with integrity and quality. It will also enable India to be able to influence global bullion prices as a principal consumer.



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