GIFT City may have single bullion exchange after regulator's nudge

3 exchanges are working towards a common platform and also competing together for international biz

The International Financial Services Centre Authority, a unified regulator at the International Financial Services Centre (IFSC), has suggested a single bullion exchange at GIFT City, according to three persons in the know. 

Three exchanges — the India International Exchange (INX), a subsidiary of the BSE, the NSE’s International Exchange, and the Multi Commodity Exchange of India (MCX) — want to set up their own bullion exchange at GIFT City IFSC, but they are now reconsidering their plan.

INX executives are understood to have approached the officials of the other two exchanges after the unified regulator’s suggestion. Efforts are being made