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GIFT City seeks to boost FDI, spur bullion trades

While the park will initially be used to back up physical deliveries of financial transactions primarily in gold trades, it will also facilitate deliveries of other precious metals such as silver and platinum.
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11 Sep 2020 2 Mins Read 0 comment
At present, there are 14 international banking units, including State Bank of India, Standard Chartered Bank and Bank of Baroda, working out of the GIFT IFSC. Getty Images
At present, there are 14 international banking units, including State Bank of India, Standard Chartered Bank and Bank of Baroda, working out of the GIFT IFSC.
MUMBAI : Prime Minister Narendra Modi's pet financial infrastructure project GIFT City is setting up an international logistics park, paving the way for foreign investments that would underpin spot bullion trades. Facilities for the custody of high-value goods - fine arts, electronics, auto parts, and medical devices - have also been planned. “The proposed International Logistics Park at GIFT
IAS officer from the Ministry of Corporate Affairs. He has been in charge since the past one year. At present, there are 14 international banking units, including State Bank of India, Standard Chartered Bank and Bank of Baroda, working out of the GIFT IFSC. The park should open up many opportunities, especially for our future initiatives, said Ray.
MUMBAI : Prime Minister Narendra Modi's pet financial infrastructure project GIFT City is setting up an international logistics park, paving the way for foreign investments that would underpin spot bullion trades. Facilities for the custody of high-value goods - fine arts, electronics, auto parts, and medical devices - have also been planned. “The proposed International Logistics Park at GIFT IAS officer from the Ministry of Corporate Affairs. He has been in charge since the past one year. At present, there are 14 international banking units, including State Bank of India, Standard Chartered Bank and Bank of Baroda, working out of the GIFT IFSC. The park should open up many opportunities, especially for our future initiatives, said Ray.

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