India International Bullion Exchange (IIBX)

Published on 15 Apr 2025

• Recently, the State Bank of India (SBI) announced it has become the first trading cum-clearing member at the India International Bullion Exchange (IIBX).
• IIBX is India’s first International Bullion Exchange, and 3rd of its kind in the world.
• Bullion refers to highly refined non-ferrous metals, often precious metals like gold, silver, and platinum, typically in bulk form and used for making coins.
• It is based at GIFT City (Gujarat International Finance Tech City) IFSC (International Finance Services Center), Gandhinagar, Gujarat.
• IIBX has been conceptualized to provide a gateway to import bullion into India and provide a world class bullion exchange ecosystem.
• The IIBX is regulated by the International Financial Services Centers Authority (IFSCA), a statutory body under International Financial Services Centre's Authority Act, 2019.
• IFSCA regulates the Special Economic Zones in India.
• Its chairperson and members are appointed by the Central Government.

Keywords:

India International Bullion Exchange Stock market Investment models GIFT city