GIFT City (Gujarat International Finance Tec-City) is India’s 1st Operational Smart City and IFSC. The purpose of setting up the GIFT City is to develop a world class smart city that becomes a global financial hub with the development of an International Financial Services Centre (IFSC).
GIFT City is an emerging global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. It is supported by state-of-the-art infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity.
India International Exchange (IFSC) Limited (India INX) is India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). India INX is a subsidiary of BSE Limited. India INX offers an opportunity to trade 22 hours a day – making India INX an ideal offshore gateway to India.
NSE-IFSC Limited (NSE International Exchange), subsidiary of NSE, has been launched to grow the financial market as well as expected to bring capital into India. NSE IFSC Limited launched trading on June 5th, 2017, offers longer trading hours in various products including in Index Derivatives, Stock Derivatives, Currency Derivatives, Commodity Derivatives and Debt Securities. Stock exchanges operating in the GIFT IFSC permitted to offer trading in securities in any currency other than the Indian rupee. They provide competitive advantage in terms of tax structure and supportive regulatory framework that is comparable with any other global financial centres.
India's gold market is one of the largest in the world and holds an important position in the global bullion market. Giving a major boost to India’s aspiration of having its own International Bullion Exchange and paving the way for India to play a larger role in the global bullion market, India International Bullion Exchange IFSC Limited (IIBX) was launched by the Honourable Prime Minister of India, Shri Narendra Modi on 29th of July 2022. IIBX is promoted by India’s leading market infrastructure institutions like NSE, INDIA INX (subsidiary of BSE), NSDL, CDSL and MCX. IIBX is established at GIFT IFSC, Gandhinagar, Gujarat, India. IIBX is regulated by International Financial Services Centres Authority (IFSCA) (https://www.ifsca.gov.in). IIBX has been conceptualised to provide a gateway to import bullion into India and provide world class bullion exchange ecosystem to promote bullion trading, investment in bullion financial products and vaulting facilities in IFSCs. IIBX enables trading in bullion which adhere to OECD Due Diligence Guidance for Responsible Supply chain of Minerals from Conflict Affected and High-Risk Areas for establishing supply chain integrity. For the first time, an Indian resident Jeweller (Qualified Jeweller - QJ) can import bullion directly into India through IIBX by being a Client or a Limited Purpose Trading Member of IIBX. Top bullion dealers and jewellers of India have been onboarded by IIBX with many more applications in the pipeline. Bullion is kept in the vaults authorised by International Financial Services Centres Authority (IFSCA) and empanelled by India International Depository IFSC Limited (IIDI). Bullion on IIBX is traded in the form of Bullion Depository Receipts (BDRs). Demat account is required to be opened with the IIDI where BDRs will be credited. The global bullion banks, bullion refiners and bullion traders through IIBX, can directly access the bullion buyers in India via IIBX. GIFT IFSC area offers convenience to re-export the Bullion as and when required by bullion suppliers without payment of customs duty. T+0 contracts are currently available for 995 1kg (LBMA & UAEGD) and 999 100 gm (LBMA) with plans to enhance the product suite going forward. IIBX proposes to launch Repo products, Gold metal loan and lease products and introduce Silver shortly.
Founder & Group Chairman
Mr. Anand Rathi is the founder and the soul of the Anand Rathi Group. The Gold Medallist chartered accountant is a leading financial and investment expert in India and the broader South-East Asian region.
Before laying the foundation of the Anand Rathi Group, Mr. Rathi had an illustrious and fruitful career with the Aditya Birla Group. He was a core member and played a crucial role in shaping the flagship cement business of the group. Mr. Rathi had spearheaded the Aditya Birla Group’s entry into various manufacturing and service sectors.
In 1999, Mr. Rathi was appointed the president of BSE (Bombay Stock Exchange). The rapid expansion of BOLT - the BSE Online Trading System, during his tenure, speaks volumes of his farsightedness. He also set up the Trade Guarantee Fund and played a vital role in setting up the Central Depository Services (CDS). Mr. Rathi is an esteemed member of the ICAI and has experience of 53+ years across sectors.
Co-Founder & Vice Chairman
Mr. Pradeep Gupta, the co-founder, is the fuel that runs the well-oiled Anand Rathi machinery spread across India. Starting with a family-owned textile business, Mr. Gupta stepped into the financial world with Navratan Capital & Securities Pvt. Ltd. After scaling up the business, Mr. Gupta later joined hands with Mr. Anand Rathi to establish the Anand Rathi Group.
Over two decades of rich experience in the financial sector has provided Mr. Gupta a unique insight into the working of the industry. He played an instrumental role in the success of the Institutional Broking and Investment Services arms of the group and remains the driving force behind the strong network of franchisees and branches across the country.
Mr. Gupta’s sharp acumen has made him a trusted advisor for many. He is often seen sharing his distinctive views in the media and industry forums. The Anand Rathi Group has been the recipient of several prestigious awards under the leadership of Mr. Gupta.
CEO & Head – GIFT City, IFSC Anand Rathi International Ventures (IFSC) Pvt Ltd
Niteen is a seasoned professional with extensive experience in Forex Markets, Trade, Working Capital finance, Currencies broking, building businesses and teams. With 20 years in Financial Markets and related activities, he has been associated with organizations involved in various Financial Products.
Niteen is an engineer graduate and holds a management degree from Faculty of Management Studies – New Delhi. He is also an alumni of IIM- Calcutta. With various assignments with banking majors like ICICI Bank ( India ) , ICICI Bank ( Canada ) , ABN AMRO bank , Angel Broking and RBL Bank he was responsible for business development, engagements with various industry stakeholders, regulators, market participants and government bodies and has an extensive experience in building businesses from scratch across organizations, leading and nurturing teams while also developing strong processes, culminating into leadership positions for organizations he has worked for.
Director – Commodities and Currencies
Mr. Mathur, is a seasoned professional with extensive experience in Commodities and Currencies broking, building businesses and teams. With 26 years in Financial Markets and related activities, he has been associated with organizations involved in trading equities, commodities and currencies. Prior to joining Anand Rathi group, he was Head of Market Advocacy, at Multi Commodity Exchange of India Limited [MCX] and was responsible for engagements with various industry stakeholders, regulators, market participants and government bodies in developing commodities market and the industry further.
Mr. Mathur has been a regular speaker on electronic media channels like CNBC TV18, CNBC Awaaz, Zee Business, ET Now and NDTV Profit. He has also been a guest speaker at various conferences and seminars and is a speaker on financial services at leading Educational Institutions.