Prime Minister Narendra Modi inaugurated India's first international stock exchange - India International Exchange - at the Gift City yesterday. Modi has called it a ‘momentous occasion for India's financial sector'.

He shared that the project took shape in the year 2007 and the vision was to create a world class Finance and IT zone for India, to provide services not only to India but the entire world. He recalled that he had visited the Bombay Stock Exchange in June 2013 and had invited BSE to set up a world beating International Stock Exchange.

"In the year 2015, during the Vibrant Gujarat event, they signed an MoU with Government of Gujarat. Today, I am delighted to be here to inaugurate the new India International Exchange. It is an important milestone not just for Gift city but for India, in creating 21st century infrastructure," he said.

India International Exchange will trade in equity, commodities, currencies and interest rate derivatives in the first phase. Later, it will trade equity instruments of Indian and foreign companies. Masala bonds will also be available for trading here.

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