 The Honourable Prime Minister's directive is clear. Make gift IFSC exchanges the international price influencer for commodities. IIBX has been set up and will provide an efficient price discovery for bullion, complete transparency, sourcing, integrity, quality assurance and standardization and is on the threshold of becoming the gateway to India's bullion imports. Setting up of IIBX is an important milestone and will have a transformational impact on the Indian bullion ecosystem.