Prime Minister Narendra Modi will inaugurate india's first International Bullion Exchange and India International Bullion Exchange IIBX on Friday, July 29 at the Gujarat International Finance Tech Gift City. During this visit to the gift city, Prime Minister Modi will also make some important announcements touching on economic matters.
Prime Minister Modiji is coming to Gujarat for two days on July 28 and 29. According to the received information, he is going to chennai after the program Sabar Dairy located in Himmatnagar on Thursday, July 28. After spending the night there, the next day will return to Gandhinagar on Friday. Where International Financial Service Centre in gift city will lay the foundation stone of the Authority's main building. In addition they will launch the NSE IFSC - SGX Connect. All order on Nifty derivatives will increase liquidity in derivative markets on 'NSE - IFSC' order matching and treding platform. So that more international participants will join and hence GIFT - IFSC will have a positive impact on the financial ecosystem. Booker - Dealers from all over the world, including India, are excepted to participate in large numbers to trade derivatives through this connect.
Chief Minister Bhupendra Patel, Minister of Home Affairs and Cooperation of Government of India Amit Shah, Minister of Finance and Corporate Affairs Nirmala Sitaraman, Minister of State For Finance and Energy Kanubhai Desai, Union Minister of the State for Finance Dr. Bhagwat Kishanrao Karad and Central Minister of State for Finance Pankaj Chaudhry will also be present.
India's first IIBX to be launched by the Prime Minister will boost gold financing in the country, provide quality assurance and efficient pricing fecility. This will empower India to take its rightful place in the global bullion market and serve the global value chain with integrity and quality.
🎖Gift City Gandhinagar...
👉The city is connected through 4-6 lane State and National Highways. A double corridor metro system is being constructed to connect GIFT City to the nearby airport and various parts of Ahmedabad.
👉The total area for the development of GIFT is 886 acres out of ehich the SEZ ( Special Economic Zone) constitutes 261 acres. The project area under development can hence be classified under the SEZ area and the Non- SEZ area (also known as the Domestic Tariff area or the DTA).
👉GIFT City has dedicated Multi Services Special Economic Zone (SEZ) for international operation of various services sectors players. Also within, GIFT Multi Services SEZ, GIFT houses India's first International Financial Services Center (IFSC) approved by the Government of India.
👉For the purpose of implementation of the SEZ, GIFT Company Limites has set up an SPV (Special Purpose Vehicle) (100% subsidiary of GIFTCL) namely GIFT SEZ Ltd, designated as the developer organization of the SEZ. GIFTCL has also set up 5 subsidiary companies for the implementation of specialized infrastructure including Power, Water, ICT (Information & Communication Technology), District Cooling and Solid Waste Management.
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