The Economic Times

India refines 1,200 tonnes of gold but consumes 800-850 tonnes: How GIFT City could help unlock major export opportunity

Indias 1,200-tonne gold refining industry could unlock new export opportunities through GIFT City, Gujarat, following the introduction of responsible sourcing and audit guidelines by the International Financial Services Centres Authority (IFSCA). The framework sets standards for refiners seeking Good Delivery accreditation to trade gold through the India International Bullion Exchange (IIBX). The move aims to strengthen global confidence in Indian-refined gold through supply chain transparency, independent audits and stricter compliance requirements.