India International Exchange

The India International Exchange Limited (India INX) is India's first international stock exchange which is under the ownership of Ministry of Finance, Government of India.[1][2] It is located at the International Financial Services Centre, GIFT City in Gujarat.[3]

India International Exchange
TypeStock Exchange
LocationGujarat International Finance Tec-City, Gandhinagar, Gujarat, India
Founded2017
OwnerMinistry of Finance, Government of India.
Key peopleV. Balasubramaniam (Chief Executive Officer and Managing Director)
CurrencyIndian rupee (INR/₹)
Websitewww.indiainx.com

It was inaugurated by Indian Prime Minister Narendra Modi on 9 January 2017. The trading operations began on 16 January 2017. It operates on EUREX T7, an advanced technology platform. India INX claims that it is the world's fastest exchange, with a turn-around time of 4 microseconds.[4] It operates 22 hours a day, six days a week.[1] These timings facilitate international investors and Non-Resident Indians to trade from anywhere across the globe at their preferred time.

Operations

In early 2020, the Asian Development Bank raised $118 million from offshore rupee-linked 10-year bonds. The bonds were listed on India INX.[5] India INX offers access to the full range of stocks and exchange-traded funds available in US markets. The daily average volume in foreign stocks in India INX during the month of January 2022 was $5,242. By May it had risen to $42,954 and to $195,139 in June 2022. During the last week of June, the daily average volume was $462,036.[6]

See also

References
  1. "PM Modi to inaugurate 16-storey international exchange in Gujarat to rival Singapore, Dubai". India Times. Indo-Asian News Service. 9 January 2017. Retrieved 16 January 2017.
  2. "PM Narendra Modi launches India's first international stock exchange". India Today. 13 January 2017. Retrieved 16 January 2017.
  3. Upadhyay, Jayshree P.; Maulik, Pathak (9 January 2017). "V. Balasubramanian to head India International Exchange". Live Mint. Retrieved 16 January 2017.
  4. "About India INX". India INX. Retrieved 11 February 2020.
  5. "ADB raises $118 million from rupee-linked bonds". The Economic Times. 26 February 2020. Retrieved 23 March 2020.
  6. Borate, Neil; Kaul, Abhinav (5 July 2022). "NSE's international exchange finds few takers for US stocks". Mint. Retrieved 17 December 2022.
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