BusinessPhoto: MintSilver Imports Surge at India International Bullion Exchange After New Licensing
India International Bullion Exchange (IIBX) saw a revival with 570 metric tonnes of silver traded in three months since August, after no trades in the previous year. This surge followed a May DGFT decision making licences mandatory for certain silver imports. By mid-August, around 400 tonnes of silver licences were approved, prompting importers to use IIBX for sourcing silver. Gold imports remained low at 0.3 tonnes.
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