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GANDHINAGAR : Prime Minister Narendra Modi on Friday launched India's first international bullion exchange in Gandhinagar. He also laid the foundation stone of the Headquarters Building of the International Financial Services Centres Authority, in Gandhinagar.

At the event PM Modi hailed Indian in the same league as USA, UK and Singapore in terms of global financial sector. He was speaking at an event organised by International Financial Services Centres Authority (IFSCA). 

The event that is being hosted by International Financial Services Centres Authority (IFSCA), under the aegis of the Government of India in collaboration with GIFT City and Bloomberg on 3 and 4, December 2021, also saw the presence of finance minister Nirmala Sitharaman.

At the event PM Modi said India is now in company of countries like the USA, UK and Singapore where new trends in the global financial sector are shaped.

He said India is one of the world's leading economies and should build institutions that can cater to its present and future roles. PM Modi inaugurated the NSC (National Stock Exchange) IFSC (International Financial Service Centre) and SGX (Singapore Exchange Ltd) Connect platform on Friday. 

The first gold bullion aims to standardize the gold pricing in India. It further seeks to it easier for small bullion dealers and jewellers to trade.

“Today, India is standing in line with countries like the USA, UK and Singapore where new trends in the global financial sector are shaped. I congratulate people of the country for this achievement," Modi said. 

“India is one of the world's leading economies and will grow even bigger going forward; we should build institutions that can cater to our present and future roles," the Prime Minister said. 

Modi said India accounts for 40 per cent of real time digital payments in the world. Through the GIFT City, India is laying strong claim for its place in the international financial services sector, he said. 

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