Multi Commodity Exchange of India (MCX) has signed a Memorandum of Understanding (MoU) with India Bullion and Jewellers Association (IBJA), the apex industry body for all bullion and jewellery associations in India on various cooperation activities for the growth and development of bullion industry, including a joint viability of setting up a ‘Bullion Spot Exchange’ in India.
It is in line with the Government of India’s vision of establishing trade efficient and consumer friendly system of regulated gold exchange in the country for bullion stakeholders for efficient price discovery and transparency. Both MCX and IBJA have been continuously working towards furthering the development of bullion and jewellery sector in India.
MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.
