Page 35 - Bullion World Issue 3 July 2021

Bullion World | Issue 03 | July 2021

What is Gift IFSC?
Gujarat International Finance Tec-
city (GIFT) IFSC was approved by
government of India as the first IFSC in
the country, given its excellent location,
abundant talent pool to offer financial
products and services and proximity to
the financial hub of India, Mumbai.

Tax structure should be competitive
enough for players who are willing to
participate in the growth story of India.

International Bullion Exchange (IBE): Benefits preposition for bullion refining inside the GIFT-IFSC, since
Announcement of International Bullion bankers: it is a free zone.
Exchange (IBE) at the IFSC in GIFT City, - Excellent opportunity to offer - Possibility of upstream financing
Gujarat was made in Union Budget 2020. products such as gold metal loan, - Opportunity for making and
dore financing, gold saving deposits, marketing gold bars and gold coins.
A consortium of five market infrastructure gold accumulation plan etc
institutions - NSE, BSE, MCX, NSDL - Opportunity to extend sales and We welcome all of you to GIFT-IFSC and
and CDSL – will create IBE that provides trading services such as gold IBE. It would be an excellent opportunity
efficient price discovery, facilitates derivatives, hedging, gold spot, to participate in the growing India bullion
responsible sourcing and supply chain clearing and distribution services market.
integrity, brings quality assurance - Play active role as liquidity provider,
through standardisation, provides market maker and infrastructure
greater integration into financial markets provider etc
and acts as a platform for routing retail - Provide services to bullion customer
investment into gold. such as refiner, jewellers and
investors
Bullion spot delivery contract and bullion
depository receipt were notified as Benefits for refiners:
financial products under IFSCA Act. - Possibility of refiners to set-up

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