Gandhinagar, Feb 3 (PTI) – Gujarat Chief Minister Bhupendra Patel on Monday marked a significant milestone in India's financial sector by launching the Sensex Futures & Options (F&O) contracts on the India International Exchange (India INX) at Gujarat International Finance Tec-City (GIFT City).
The launch event was highlighted by a bell-ringing ceremony, symbolizing the commencement of US Dollar-based Sensex F&O trading, a move set to attract global investors and deepen India's integration with international financial markets.
"This initiative not only simplifies investment in the Indian market for global investors but also strengthens India's connection with the international financial system," Patel said.
Highlighting India’s economic trajectory, Patel reiterated the nation’s goal of becoming the third-largest economyunder Prime Minister Narendra Modi’s leadership.
"Those present here firmly believe that Modi 3.0 is swiftly steering India towards becoming the world's third-largest economy," he remarked.
"With this launch, investors worldwide can now hedge, trade, and invest in India’s most trusted index – Sensex – in US dollars from the world-class GIFT City platform," he stated.
The initiative, backed by cutting-edge technology and seamless execution, solidifies India INX’s standing as a key global financial hub.
"GIFT City has successfully positioned itself as India's fintech hub, and PM Modi is working towards making it a global financial powerhouse," he noted.
With GIFT IFSC (International Financial Services Centre) and India International Bullion Exchange (IIBX)fully functional, the city hosts services across banking, insurance, asset management, and capital markets.
Patel also highlighted the pro-business provisions in the Union Budget, which he said would enhance IFSC’s financial ecosystem and global recognition.
"What we see today is a step towards realizing that vision. GIFT City offers extensive incentives, simplified regulations, and unmatched financial opportunities, making it a competitive destination for foreign investors," he remarked.
Expressing optimism, Ramamurthy noted that Sensex F&O would play a crucial role in this growth, adding, "With collective efforts, we will push forward, and Sensex will serve as a key driver of this financial transformation."
This strategic launch reaffirms India’s ambition to establish itself as a leading global financial hub, with GIFT Cityplaying a central role in this evolution.
The launch event was highlighted by a bell-ringing ceremony, symbolizing the commencement of US Dollar-based Sensex F&O trading, a move set to attract global investors and deepen India's integration with international financial markets.
Boost to India's Global Financial Aspirations
Speaking at the event, Patel emphasized the strategic importance of this initiative, stating that it would ease foreign investment into India and bolster the country’s financial markets on the global stage."This initiative not only simplifies investment in the Indian market for global investors but also strengthens India's connection with the international financial system," Patel said.
Highlighting India’s economic trajectory, Patel reiterated the nation’s goal of becoming the third-largest economyunder Prime Minister Narendra Modi’s leadership.
"Those present here firmly believe that Modi 3.0 is swiftly steering India towards becoming the world's third-largest economy," he remarked.
India INX Strengthens Its Global Standing
Vijay Krishnamurthy, MD & CEO of India INX, hailed the launch as a "historic milestone" in India’s financial journey."With this launch, investors worldwide can now hedge, trade, and invest in India’s most trusted index – Sensex – in US dollars from the world-class GIFT City platform," he stated.
The initiative, backed by cutting-edge technology and seamless execution, solidifies India INX’s standing as a key global financial hub.
GIFT City: A Rising Global Fintech Hub
Patel underscored the transformation of GIFT City, which was envisioned by PM Modi and has now become a leading fintech destination with over 450 fintech firms operational."GIFT City has successfully positioned itself as India's fintech hub, and PM Modi is working towards making it a global financial powerhouse," he noted.
With GIFT IFSC (International Financial Services Centre) and India International Bullion Exchange (IIBX)fully functional, the city hosts services across banking, insurance, asset management, and capital markets.
Patel also highlighted the pro-business provisions in the Union Budget, which he said would enhance IFSC’s financial ecosystem and global recognition.
GIFT City: The Future of India's Financial Markets
BSE Limited MD & CEO, Sundararaman Ramamurthy, credited PM Modi’s vision for shaping GIFT City into a global price setter in currency, commodities, futures, and equities markets."What we see today is a step towards realizing that vision. GIFT City offers extensive incentives, simplified regulations, and unmatched financial opportunities, making it a competitive destination for foreign investors," he remarked.
Expressing optimism, Ramamurthy noted that Sensex F&O would play a crucial role in this growth, adding, "With collective efforts, we will push forward, and Sensex will serve as a key driver of this financial transformation."
This strategic launch reaffirms India’s ambition to establish itself as a leading global financial hub, with GIFT Cityplaying a central role in this evolution.