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The Department of Commerce permits units authorized by the International Financial Services Centre Authority to trade precious metals for their approved operations in the India International Bullion Exchange. This update modifies previous circulars from April 2013 and March 2016 for units in Special Economic Zones. The competent authority approves this change.
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K-43014(22)/34/2020-SEZ Government of India Ministry of Commerce & Industry Department of Commerce (SEZ Section)
Udyog Bhawan, New Delhi Dated: 1 February, 2022
To, All Development Commissioners, Special Economic Zones
Subject:- Streamlining of regulatory mechanism for units in International Financial Services Centre related to Gems & Jewellery Sector.
Sir/Madam,
I am directed to state that In partial modification of this Department's Circular No. D.12/4/2013-SEZ dated 25.04.2013 and Circular No. D.12/4/2013-SEZ (Vol.II) dated 03.03.2016, it has been decided that the units authorized by International Financial Services Centre Authority (IFSCA) to operate in India International Bullion Exchange (IIBX) are hereby allowed for trading of precious metals for their authorised operations as approved by IFSCA.
[Image omitted. See the official document.]
(Sumit Kumar Sachan) Under Secretary to the Government of India Tel: 011-2306 2496 E-mail: sumit.sachan@nic.in
