It was a privilege for Mr Sharad Jobanputra, CMD, Sequel Logistics, to host the Honourable Finance Minister of India, Smt Nirmala Sitharaman at Sequel’s state-of-the-art bullion vaulting facility at GIFT City.

The Hon. Finance Minister Smt Nirmala Sitharaman was accompanied by Ministers of State for Finance Shri Pankaj Choudhary, Shri Bhagwar Kishanrao Karad, Secretaries of MOF & MCA, Mr Dipesh Shah, Head – Development & International Relations – IFSCA, Mr Tapan Ray, MD & CEO - GIFT City and other officials of GIFT City during her visit to the country’s maiden International Financial Services Centre (IFSC).

Speaking on the occasion, Smt Nirmala Sitharaman said, “I was glad to hear that the bullion exchange will soon come into play for which all the necessary infrastructure, inclusive of safe vaults, are ready and operational. So, the bullion exchange will be a big game-changer for India because in India we consume a lot of gold and every gram of gold that we consume is imported. To have an exchange in India and to determine the price being one of the leading buyers in the global gold market will be a big and important milestone.”

Sequel will play a crucial role in the much-awaited, Bullion Exchange, which shall be the “Gateway for Bullion Imports into India”, wherein all the bullion imports for domestic consumption shall be channelized through the exchange. GIFT City is touted as an upcoming global financial hub and as its first Vault Manager, Sequel will be a significant part of this ecosystem.