PM Modi’s golden gift to Gujarat

PM Narendra Modi today visited India’s first International Financial Services Center (IFSC) at Gujarat International Finance Tech-Gift City in Gandhinagar. During this he will make an important announcement. On this occasion Gujarat CM Bhupendra Patel, Union Finance Minister Nirmala Sitharaman, Union Minister of State for Finance Dr. Bhagwat Kishanrao Karad and Union Minister of State for Finance Pankaj Chaudhary are present.

PM Modi launched International Bullion Exchange and NSE IFSC-SGX Connect in Gift City. On this occasion, Chief Minister Bhupendra Patel has said that Gift City will make Gujarat a global center of trade, business and financial services in the coming days.

After laying the foundation stone of the International Bullion Exchange, PM Modi said in his address that the eyes of the people of the country and the world are on India. India is moving forward in a leap of development. IFSC building will make India an economic superpower. Along with this, recalling the idea of ​​Gift City when PM Modi was the Chief Minister of Gujarat, he said that when I came for the launch of Gift Innovation in January 2013, Gift City was such an idea that Gift City was ahead of that time. Had an idea.

PM Narendra Modi is the only leader of the country who has prioritized various states of the country outside New Delhi for meetings with global leaders under the Centre’s diplomacy. Among them, he has given special preference to his home state Gujarat. Gujarat’s development, Gujarat’s hospitality and Gujarat’s culture became a topic of discussion worldwide due to the visit of various global leaders to Gujarat.

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Gandhinagar is going to become a center of trade. Today PM visited Gift City where he laid foundation stone of IFSC main building. International Financial Services Center Authority has launched country’s first IIBX PM. NSE has also launched IFSC-SGX Connect under India International Bullion Exchange. This building will be developed as an iconic structure.

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What is IFSC?
Facility for storage of gold
125 tonnes gold storage capacity
Silver storage capacity of up to 1,000 tonnes
Vaulting facilities for gold storage
Monetizing gold
Direct import of gold will be allowed

What is IIBX?
will serve as a trading hub.
Boolean will allow spot delivery contracts.
Allowed to store boolean for issuing BDR.
A trading hub for jewelery manufacturers and exporters.

What are the features of International Bullion Exchange?

Considered as a major gateway for gold imports into India.
Transparency regarding price and quality will increase.
Recognized as a price influencer and price center in international markets.
Storage capacity of gold and silver will increase at GIFT City-IFSC.
Storage capacity of 125 tons of gold and 1 thousand tons of silver will be established.
Any gold imported into the country will come under this exchange.
The fixed prices will determine the price of gold which will be in line with international norms.
After this exchange, the appropriate price of gold will be determined.
Gold prices will also monitor what is going on in the world.
After the gold exchange comes, gold trading will start like stocks.

Published by:Rakesh Parmar

First published:

Tags: Gandhinagar News, Gujarati news, Pm modi in gujarat, PM Modi PM Modi


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