(G.N.S) dt. 29
India’s first international bullion exchange, ‘India International Bullion Exchange (IIBX)’ was launched by Prime Minister Narendra Modi in Gujarat’s capital.
Earlier PM Modi visited India’s first International Financial Services Centre (IFSC) at the Gujarat International Finance Tec-City (GIFT City)
PM Modi laid the foundation stone for the headquarters building of the International Financial Services Centres Authority.
Apart from that, the Prime Minister also 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.
“International Financial Services Centres Authority (IFSCA) will become an enabler, it will support innovation and also become a catalyst for growth opportunities. In 2008 there was a global economic crisis and recession. There was an atmosphere of policy paralysis in India. But, at that time Gujarat was taking new and big steps in the field of fintech. I’m glad that idea has progressed so far today.
“India is now standing in line with countries like USA, UK and Singapore from where global finance is given direction. Today India is one of the largest economies in the world. Today a record foreign investment is coming to India,” said PM Modi at the launch.