Page 21 - Bullion world volume 4 issue 6 june 2024

Bullion World | Volume 4 | Issue 6 | June 2024

c. Forging Bullion Trade Alliances: IBU-Bank services ecosystem. Anchored by the robust regulatory
Collaborations Across GIFT-IFSC and ASEAN: oversight of IFSCA, GIFT-IFSC serves as a pivotal hub
Establishing connections between IBUs operating for facilitating cross-border financial activities, offering a
within GIFT-IFSC and banks in ASEAN nations like conducive environment for innovation and growth.
Indonesia, Singapore, Thailand, Malaysia, Vietnam,
or others could facilitate the trading or hedging of The establishment of the India International Bullion
gold and silver price risks, utilising either the IIBX or Exchange (IIBX) within GIFT-IFSC marks a significant
OTC methods. milestone, ushering in a new era of transparency,
liquidity, and price discovery in bullion trading. With
With Indian Banks now enabled to participate, IFSCA's focus on cultivating a strong bullion market
thanks to their robust balance sheets, it is ecosystem, GIFT-IFSC is poised to emerge as a global
conceivable that banking institutions, trading leader in the bullion trading landscape.
entities, and fund houses from ASEAN nations may
seek alternative channels for bullion trading settled Furthermore, the strategic alliances between GIFT-
in US Dollars. IFSC and ASEAN nations offer immense potential for
collaboration and mutual growth. Leveraging GIFT-
Additionally, banks based in ASEAN jurisdictions IFSC's strategic geographical advantage and regulatory
might have the opportunity to engage with IIBX for framework, entities from ASEAN nations can explore
transparent trading or importing of gold and silver diverse opportunities in bullion trading and hedging,
into their countries, departing from the traditional thereby enhancing market liquidity and efficiency.
bilateral trading model.
As GIFT-IFSC continues to evolve as a dynamic
Conclusion: international financial hub, the synergies between India,
The journey of India's economic ascendancy showcases ASEAN, and global stakeholders are poised to unlock
its resilience and potential, setting the stage for it to new avenues of growth and prosperity. With a shared
emerge as a global economic powerhouse. Amidst vision of fostering economic integration and innovation,
this trajectory, GIFT-IFSC stands as a testament to the future holds boundless possibilities for collaboration
India's commitment to fostering a vibrant financial and partnership in the financial services domain.

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