International Bullion Exchange at GIFT IFSC in India- A Descriptive Study

Abstract

In the global financial arena, the International Bullion Exchange (IBE) in Gujarat's GIFT (Gujarat International Finance Tec-city City represents a noteworthy advancement. GIFT City, the nation's first operational smart city and hub for international financial services, seeks to establish India as a major player in international finance by fostering an atmosphere that is favorable to global financial services. An essential component that makes it easier to trade precious metals internationally is the IBE. The IBE, which is housed in GIFT City, serves as a marketplace where international buyers and sellers come together to transact in different kinds of precious metals, such as gold, silver, platinum, and palladium. The exchange provides a smooth and transparent platform for players to participate in price discovery, hedging, and investing activities by utilizing cutting-edge technology and infrastructure. India has a long history of being one of the world's biggest consumers of gold, with a connection spanning across cultural, religious, and economic domains. By offering a strong platform for domestic and international stakeholders to participate in gold trading activities, the IBE takes advantage of India's fondness for gold. The exchange seeks to improve market efficiency and facilitate liquidity in the global bullion market by providing transparent trading procedures, effective price discovery mechanisms, and access to a wide range of market players. This study examines GIFT City's evolution, operating structure, market dynamics, and possible ramifications for the world bullion market. The research aims to add to the conversation about the globalization of financial markets and the changing face of commodities trade in the twenty-first century by illuminating this crucial shift.