Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    EU’s €1.1 billion bicycle exports highlight shift to sustainable living

    June 3, 2023

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Graid Technology Awarded Prestigious COMPUTEX 2023 Best Choice Golden Award for SupremeRAID Revolutionary GPU-based RAID Controller

    June 2, 2023
    Facebook Twitter Instagram
    • Home
    • Contact Us
    Addis Ababa WeeklyAddis Ababa Weekly
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Addis Ababa WeeklyAddis Ababa Weekly
    Home » PM Modi launches first International Bullion Exchange in India
    Business

    PM Modi launches first International Bullion Exchange in India

    July 30, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    India’s first International Bullion Exchange (IIBE) was launched by Prime Minister Narendra Modi at Gujarat International Finance Tech (GIFT) City in Gandhinagar, India. Additionally, he inaugurated the NSE IFSC-SGX Connect and laid the foundation stone for the headquarters of the International Financial Services Centres Authority (IFSCA).

    PM Modi launches first International Bullion Exchange in IndiaIn his address, PM Modi said GIFT city has been established as a global hub for finance and technology services. India has now joined the league of countries like the USA, UK, and Singapore providing direction to global finance, according to Mr Modi. In addition to having an impact on gold pricing, India can also play a role in setting gold prices with the inauguration of IIBE.

    PM Modi said the country has witnessed a wave of financial inclusion that is allowing even the poorest of the poor to take part in formal financial institutions. Hence, it is imperative that all government and private players work together to spread financial literacy. As a result of the IFSCA headquarters, Mr Modi expressed confidence that India would become an economic superpower within a short period of time.

    India is one of the leading gold importers, so the IIBE will increase India’s negotiating power in gold trading, said Union Finance Minister Nirmala Sitaraman. On the occasion, Gujarat Chief Minister Bhupendra Patel was joined by Ministers of State for Finance, Pankaj Chaudhary and Bhagwat Karad.

    In the presence of Prime Minister Modi, several new initiatives were announced, including the start of financial operations in India by three leading global banks: Deutsche Bank, JP Morgan Chase Bank, and MUFG Bank. The New Development Bank will also establish an Indian Regional Office in GIFT City. A number of memorandums of understanding (MoUs) were also signed with regulatory authorities in Singapore, Luxembourg, Qatar, and Sweden in the presence of PM Modi.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    Related Posts

    EU’s €1.1 billion bicycle exports highlight shift to sustainable living

    June 3, 2023

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Global stocks surge as US debt ceiling agreement brings relief

    May 29, 2023

    Global clean energy investment set to reach $1.7 trillion, overtaking oil production

    May 27, 2023

    European Investment Bank supports circular economy with €3.4 billion lending

    May 27, 2023

    Successful UAE-India partnership stands as a model of bilateral cooperation

    May 27, 2023
    Latest News

    EU’s €1.1 billion bicycle exports highlight shift to sustainable living

    June 3, 2023

    Strengthening UAE-India relations: Top diplomats discuss economic partnership

    June 3, 2023

    Ayurveda vs science: Decoding the cold water conundrum

    June 2, 2023

    UN urges immediate action to prevent food and aid crises in cyclone-hit Myanmar

    June 2, 2023

    Big tobacco’s big lie: Philip Morris’ smoke and mirrors strategy

    June 1, 2023

    Unveiling the most overlooked early heart attack symptom

    June 1, 2023

    Sony faces antitrust probe in Romania over PlayStation’s market dominance

    May 31, 2023

    Audio-Technica brings back the Sound Burger: a retro turntable for the modern age

    May 31, 2023
    © 2021 Addis Ababa Weekly | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.