IFSCA Bullion Exchange Regulations (IIBX)

India International Bullion Exchange structure, Qualified Jeweller gold-import route, and vaulting/depository requirements.

Exchange structure

The India International Bullion Exchange (IIBX) operates alongside a bullion clearing corporation and bullion depository — together forming the licensed ecosystem for exchange-traded bullion contracts and vaulted delivery in GIFT City.

Qualified Jeweller import route

A Qualified Jeweller (nominated per DGFT/RBI criteria) can import gold exclusively through IIBX under the notified route — replacing the earlier fragmented nominated-agency import channel for participating jewellers, with price discovery on the exchange rather than bilateral OTC deals.

Vaulting and depository receipts

Bullion held in an IFSCA-licensed vault is represented by electronic depository receipts tradeable on the exchange — settlement and physical delivery logistics are governed by the bullion depository's own bye-laws, layered under the IFSCA regulations.

Educational summary of the IFSCA Act, 2019, its Regulations and IFSCA circulars as understood at review date 2026-07-18. Not a substitute for the official IFSCA Act/Regulations text, current circulars, or professional advice on a specific transaction.

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