PM Narendra Modi launched India’s first international bullion exchange in Gujarat
Last Updated at July 30, 2022: In Gujarat, Prime Minister Narendra Modi launched India’s first international bullion exchange on Thursday. The new facility will allow investors to purchase and sell gold and other precious metals with other countries. The exchange is located in the city of Ahmedabad.
India’s Prime Minister Narendra Modi has launched the country’s first international bullion exchange in Gujarat, marking a significant step forward for the country’s efforts to build global economic and investment ties.
The new facility will allow traders from around the world to buy and sell gold and silver using Indian rupees, opening up access to India’s over $2 trillion in reserves of precious metals.
This move is likely to boost investor confidence in India’s economy and attract more foreign direct investment into the country.
When it comes to global finance, India is quickly gaining a reputation as a powerhouse. And its latest move in this arena is sure to make some waves – Said PM Modi
This new initiative will allow Indians to buy and sell gold and silver directly with other global investors, bypassing the traditional channels of trade that have contributed to high prices and inflated values over the years.
PM Modi believes that this new platform will help stabilize the global gold market and promote greater investor confidence in India’s economy. It’s a bold move, but one that could ultimately have a significant impact on the way India interacts with the rest of the world.
What is an international bullion exchange?
An international bullion exchange (ICE) is a platform that allows investors to trade gold and silver bullion with each other. The aim of an ICE is to provide a safe and efficient way for investors to buy and sell gold and silver.
Most importantly, an ICE provides liquidity to the market by allowing investors to buy and sell large amounts of gold and silver .
This helps ensure that prices remain stable, which makes it easier for investors to buy or sell gold or silver .
Launching the India’s first international bullion exchange in Gujarat, Prime Minister Narendra Modi has made it easier for people in the state to invest in precious metals.
In addition, the exchange will help promote India’s position as a leading player in the global market for precious metals.
Benefits of using an international bullion exchange
An international bullion exchange (IEX) is a centralized platform where buyers and sellers of precious metals can trade directly. IEX offers several benefits that may be advantageous for buyers and sellers.
Benefits for buyers:
- A direct connection to the market: IEX connects buyers with the most efficient and liquid markets in the world, allowing them to get the best prices for their precious metals.
- Faster transactions: Since IEX is a central platform, transactions happen faster than on traditional exchanges. This means that buyers can get their metals into the market faster, making it easier to invest or speculate in the precious metals market.
- More options: IEX gives buyers more options when it comes to precious metals storage and delivery, as well as buying and selling methods. This allows buyers to find the best fit for their needs and protect themselves from risks associated with traditional exchanges.
- Increased security: IEX uses state-of-the-art security measures to keep users’ information safe. This means that buyers can trust that their data will be protected during transactions on the exchange.
- Reduced fees: Compared to traditional exchanges, IEX charges lower fees for both buying and selling precious metals. This makes it a more cost-effective way to invest in the precious metals market.
Benefits for sellers:
- Higher liquidity: Since IEX is a centralized platform, there is always a high level of liquidity in the market, which means that sellers can easily find buyers and get their metals into the market quickly.
- Faster transactions: Since IEX transactions happen faster than on traditional exchanges, sellers can get their metals out of the market faster and avoid risks associated with holding onto their precious metals.
- More options: Sellers on IEX have access to more options when it comes to selling their metals, including through direct delivery to buyers around the world. This allows them to make more money than they would on a traditional exchange and protect themselves from risks associated with selling on an unregulated platform.
- Increased security: IEX uses state-of-the-art security measures to keep users’ information safe. This means that sellers can trust that their data will be protected during transactions on the exchange.
- Reduced fees: Compared to traditional exchanges, IEX charges lower fees for both buying and selling precious metals.
- This makes it a more cost-effective way to sell your precious metals 6. Greater transparency: IEX is the only exchange that provides real-time updates on the prices of metals across all markets.
- This allows buyers and sellers to track the prices of their metals in real time, which is helpful in order to make informed decisions about their transactions.
Gujarat Chief Minister Bhupendra Patel, Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, Union Minister of Home Affairs and Co-operation Amit Shah, Union Ministers of State for Finance Pankaj Chaudhary and Bhagwat Kishanrao Karad were also present at the events.
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