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.

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.

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 ( Qualified Supplier – QS) 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. IIBX proposes to have IFSCA approved vaults at multiple SEZs across India.