"Many more companies from Asia, Africa and Europe should be able to raise funds from this important International Finance Centre. This exchange is set to be among the fastest exchanges in the world with most modern trading, clearing and settlement systems. India is in an excellent time-zone between West and East.

"It can provide financial services through the day and night to the entire world. The exchange, I am told, will work twenty two hours a day, starting when the Japanese markets start, and closing when US markets close. I am sure, this exchange will set new standards for quality of service and speed of transactions across time zones," Modi said.

This exchange is part of the International Financial Services Centre, - IFSC - at Gift city. The concept of an International Financial Services Centre is simple but powerful. It aims to provide onshore talent with an offshore technological and regulatory framework.

"This is to enable Indian firms to compete on an equal footing with offshore financial centres. Gift City IFSC will be able to provide facilities and regulations comparable to any other leading international finance centres in the world.

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