International Financial Services Centre Authority (IFSCA) and India Gold Policy Centre (IGPC) – IIM, Ahmedabad inked an MoU to provide expertise to facilitate the establishment of India’s first International Bullion Exchange (IBE).

GIFT-IFSC is an emerging global financial services hub that is being built on India’s strength in technology and intellectual prowess in the area of financial markets and leveraging the advantages of both the size and potential of the Indian economy and that of Indian diaspora. International Bullion Exchange at IFSC is an initiative on lines that fits into the vision of the Hon’ble Prime Minister to make IFSC a global hub for financial services activities. IBE is intended to strike an equilibrium in order to reduce the market inefficiencies that currently exist in the Indian bullion trade. Thus this move would go on to integrate precious metals trade with financial markets, and create a transparent platform for bullion trading. Through this IBE aims to achieve efficient price discovery, quality and services that are on par with international standards.