31, May 2023
Valley Insurance Agency Alliance Promotes, Hires Team Members

Valley Insurance Agency Alliance

Amy Russell promoted to Lead Pod Marketer and Michael Welch named Commercial Marketer.

(St. Louis, Mo., May 31, 2023) Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois, recently promoted Amy Russell to Lead Pod Marketer and hired Michael Welch as Commercial Marketer.

Russell, who previously served as marketing specialist and account manager, brings more than 30 years of experience in the insurance and marketing industries to her new position. She pioneered VIAA’s Pod marketing program, a carrier rating platform that assists agents with obtaining the best quotes for commercial clients. Russell’s responsibilities include marketing new and renewal business for agents, as well as training the growing insurance alliance’s marketing team members.

Russell earned her Master’s degree in Business Management from Lindenwood University and her Bachelor’s degree in Health Management from Brown Mackie College. She has her Missouri licenses for Property & Casualty, Life, and Accident & Health. Russell has two designations including Agribusiness and Farm Insurance Specialist (AFIS) and Professional Workers Compensation Account Manager (PWCAM).

Welch has more than 35 years of insurance experience. As Commercial Marketer, he will oversee the quoting and requesting issue of policies for several alliance members. Welch will focus on new and existing business development, as well as renewal business marketing.

Prior to joining VIAA as a Commercial Marketer, he worked in commercial marketing at various insurance agencies in the Northeast. Welch earned his Bachelor of Arts degrees in both Math and Economics from Lake Forest College in Lake Forest, Ill. His designations include Certified Insurance Counselor (CIC), Certified Professional Insurance Male (CPIM), and PWCAM certifications.

Founded in 2006, Valley Insurance Agency Alliance generates more than $600 million in written premium and is the regional founding member for the Strategic Insurance Agency Alliance (SIAA), a $11 billion national alliance. Founded in 1991, sister company Powers Insurance & Risk Management provides personal and business insurance, surety, risk management, and employee benefits. The companies are headquartered at 6825 Clayton Ave. For more information, call (314) 725-1414 or visit www.viaa4u.com.

31, May 2023
Edtech platform Ulipsu raises 3.2 million USD amidst a funding winter

Edtech platform Ulipsu raises

Bengaluru,31st May 2023   Ulipsu, an ed-tech startup, and India’s first multi-skill learning platform, has made a mark by raising a fresh round of 3.2 million USD amidst the funding winter that has negatively impacted the tech industry. With this, the tech start-up has successfully closed the Pre-Series A Round with a total of 5.7 million USD! The fresh round was raised at a valuation of 50 million USD! Existing investors along with HNIs from the Middle East and Canada participated in this round. The round also saw a secondary sale of 225K USD for the seed investors.
With the new funds, Ulipsu plans to accelerate its growth and operations by expanding its footprint in domestic and global markets and diversifying its product portfolio with new offerings to meet the evolving requirements of schools and parents. The company is also going bullish on new talent acquisition to support the growth spurt expected in the coming year.

Ulipsu, a brand of Kidvento Education and Research Private Limited, was launched in 2022 and has since taken an interesting growth path. Ulipsu today is being used in over 200 schools across India as their trusted ‘Skilling Partner’ in providing a world-class, standardized skilling curriculum. And now it is all fueled to onboard 1000+ schools across the country by the end of this academic year. The brand is also gearing up to mark its presence on the global map with Middle East expansions this year.

Ulipsu is India’s largest curated skilling platform for young minds, offering 350+ courses covering 15 vital skills. The product offered by Ulipsu is an ideal solution for schools that are struggling to standardize skilling education along with academics.

Ulipsu offers a plug-and-play learning infrastructure that provides schools with a unique opportunity to introduce vital skills like Art and Craft, Language and Communication, Coding, Artificial Intelligence, Finance and Entrepreneurship, Life Skills, Life Sciences, Electronics, Math, Music, Yoga and many more to their students. This is a first-of-its-kind solution in the Indian schooling space.

The announcement of funding for Ulipsu comes at a time when the tech sector has hit a rough patch with a funding winter that saw a 93% dip in ed-tech funding in 2023.

Ulipsu is set to achieve a year-on-year growth of 500% till FY 25 and then stabilize with a Y-O-Y growth of 200%-300%. The first profit is expected to be achieved in FY 26.

Expressing his optimism over the new round of funding, Sumanth Prabhu, Co-founder and CEO of Ulipsu, said, “Ulipsu’s brand proposition, NEP-aligned product offering, and consumer trust have continued to fuel the growth of the company.”

Highlighting the product fit of Ulipsu, Sumanth further added that “It is widely acknowledged that skills are just as vital as academics, but there is no standardised skilling curriculum in schools. Pioneering the solution for this problem, Ulipsu is providing global standard content and curriculum for 15+ skills with assessments, projects, and skill reports. With NEP advocating the importance of skill development, schools are finding immense value in Ulipsu, and we see a significant market opportunity both within India and overseas.”

Nikhil Bhaskar, co-founder and CTO, said, “Today’s youngsters are passionate, curious, and ever ready to learn. All they need is a curated and safe platform like Ulipsu. We have had a patient journey in building Ulipsu over the years, and it is paying off well now. In the coming 3-5 years, Ulipsu will benchmark itself as a new way of learning as our pedagogy and engagements are extremely unique.”

One of the earliest investors in Ulipsu Srajan Shetty said. “Ulipsu’s planned product development, healthy tractions, strong unit economics and the probability of it becoming one of the major players in the K–12 space in the next 2-3 years have enabled the brand to raise a fresh round of investments this season. The beauty of the product is its versatility which is enabling us to reach the remotest part of India as well as a young mind in a Metro city.”

Ulipsu is headquartered in Bengaluru and has a full-scale content creation and production unit in Mysuru with a total team of 150+ passionate individuals.

31, May 2023
Lack Of Access to an Office is a Main Driver of Recent Job Moves in India, Unispace Study Reveals

Bangalore, 31st May 2023– A lack of access to an office space is the main driver of job moves in India in the past two years, according to a new study by global workplace creation experts, Unispace.

‘Returning for Good’, a Unispace Global Workplace Insights report – which combined the results of an in-depth survey of 9,500 employees and 6,650 business leaders from across 17 countries worldwide – including 500 employees and 500 senior decision makers in companies with 50+ employees in India – revealed that more than a quarter (28%) of Indian workers moved to a new company in the last two years due to a lack of office space from their previous employer.

The Unispace survey also sheds light on the impact of the hybrid work model on India’s workforce. 27% of Indian employees rated liking the office as a top reason to stay with their employer, suggesting that workers place significant value on the physical workspace. At the same time, employees in India are far more likely than any other country globally to be willing to take a pay reduction in order to work from home, with almost a third (31%) indicating that they have already done so, which is almost double the global average of 16%.

India stood out as the only country where a direct correlation between a lack of workspace and employee turnover rates was observed. Abi Roni Mattom, Country Director, India at Unispace, said, “Data from India clearly demonstrates that many employees prefer to work in an office, but too few employers are providing inspiring and purposeful spaces that meet employee needs and values, including the provision of private working areas.”

Additionally, Indian workers exhibited a stronger preference for office-based work, with 92% of employees expecting to be in the office at least four days a week in the near future, higher than the global average.

Furthermore, 81% of Indian employees believe that remote work limits career prospects such as pay rises, bonuses, and promotions. Employers echoed this sentiment, with 96% indicating career limitations for those not in the workplace.

Employers on the other hand appear to misunderstand employees’ workplace challenges. According to the survey, the top three reasons businesses believe people dislike going into the office are linked to losing time to carry out household chores, having to carry equipment such as laptops between the office and home, and concerns around their mental wellbeing (all 22%). However, the top three reasons Indian employees dislike being in the office were enjoying the privacy of working from home (37%), feeling more productive working from home (27%) and feeling more effective in a quiet environment at home (26%).

Globally, three in four companies surveyed (75%) indicated that they have increased their real estate portfolio in the last two years, with companies across Asia Pacific indicating numbers even higher than this. This expansion includes revenue-generating trends such as creating hospitality spaces (44%).

Meanwhile, firms throughout India are being impacted by major talent attraction and retention issues. With nearly a third of employees indicating that they would stay with a business because they liked their office – this presents a major opportunity for employers.

How India compares with other countries

Survey Findings IND US UK SG
Employees in office four or more days a week 47% 57% 34% 40%
Employees returning to office due to HR mandates 76% 82% 58% 79%
Willing to take a pay reduction to work from home 60% 42% 44% 61%


Abi Roni Mattom said, “Unispace is a global leader in creating people-centric spaces. In India, we have been consulting global clients, including Bottomline and HP, on workplace solutions to bring their employees back to the office, enhance their engagement, attract, and retain talent. The significance of the workplace is underscored by the findings of the Returning for Good survey, which highlights its ability to spark brilliance, deepen connections, foster a sense of belonging and propel success.”

The Unispace survey involved interviews with ten senior executives from multinational corporations. Reen Salleh, Corporate Real Estate & Workplace Services representative at HP, emphasized the company’s commitment to promoting a balanced approach to hybrid work on a global scale.

“Recognizing the unique needs of individuals in both office and home settings, HP aims to facilitate a smooth transition for employees returning to the workplace. The key lies in providing spaces that cater to people’s experiential and well-being requirements. Embracing a hybrid work model transcends the binary choice between working from home or the office; it involves integrating diverse workstyles throughout the day, regardless of physical location.”

31, May 2023
Stayfree Secure Xl’s Latest Digital Campaign Inspires Women to Pursue Their Dreams Fearlessly

Mumbai, 31st May 2023 Stayfree, one of India’s leading brands in menstrual hygiene, launched its latest social media campaign spotlighting incredible stories of young women across various professional groups in pursuit of their dreams.

Earlier this year, Stayfree XL unveiled its latest campaign ‘Din tumhare saath chalega’. As an extension of the campaign, Stayfree is presenting inspirational stories of 12 young women from different walks of life, all pursuing their dreams without limiting their days or their lives with the fear, shame, and discomfort of periods. The video captures the long but enriching days of these confident young women where Stayfree is their partner by providing napkins that offer up to 12 hours of leakage protection[1]*. The digital video highlights the dreams and ambitions of these unstoppable women, the challenges they face during periods, and their need for a sanitary napkin that offers them longstanding leakage protection [2]enabling them to pursue their aspirations.

Through the digital campaign, Stayfree aims to partner with women on their difficult period days and help them fulfill their dreams and lead life on their terms, so their day marches to their beat. Stayfree Secure XL gives women physical comfort and mental peace up to 12 hours of leakage protection* through its unique LeakLock technology to enable women to be their best all day and seize every opportunity.

Commenting on the campaign, Manoj Gadgil, Vice President, Marketing and Essential Health BU Head, Kenvue said, “Stayfree has always been a champion for women empowerment and celebrated their unwavering spirit to pursue their aspirations. Many women in modern India strive for financial independence while battling societal attitudes and various problems including periods that sometimes force them to miss opportunities. The brand believes that periods should not come in the way of young girls and their dreams. As part of our latest digital campaign, Stayfree spotlights everyday women and their inspirational stories encouraging women to fearlessly chase their dreams without letting periods come their way. With Stayfree Secure XL, we aim to empower women by providing them with a superior product with up to 12 hours of leakage protection* to ensure comfort and hygiene to help women feel at ease during their period and live their life to the fullest.”

31, May 2023
IZA Highlights Zinc’s Essential Role in Building Sustainable Road Networks

31st May 2023  Road safety continues to be a major developmental issue, a public health concern and a leading cause of death and injury across the world. At least one out of 10 people killed on roads across the world is from India, according to the world health Organization. International Zinc Association, a non-profit organization representing the global zinc industry by promoting zinc’s-essentiality in sectors like Infrastructure, healthcare, agriculture, and automobiles. They are working closely with government and industry leaders from across sectors on identifying Black Spots on National Highways and how to raise awareness about key measures that can effectively mitigate road accidents.

As per online data, During the year 2021, a total number of 4,12,432 road accidents have been reported in the country, claiming 1,53,972 lives, and causing injuries to 3,84,448 persons. Unfortunately, the worst affected age group in Road accidents is 18-45 years, which accounts for about 67 per cent of total accidental deaths. Amongst the States, Tamil Nadu with 55,682 accidents(13.5 %) recorded the highest number of road accidents in 2021 followed by Madhya Pradesh (48, 877 i.e. 11.8%).

Road Accidents can be addressed with multiple approaches that include factors such as driver education, infrastructure improvements, traffic regulations, and enforcement, among others. Zinc as an individual might not directly reduce road accidents, however, it is worth noting that zinc plays a role in various aspects of vehicle safety and infrastructure maintenance, which indirectly contributes to reducing road accidents. Zinc effectively protects steel and iron structures from corrosion. Galvanizing road equipment and infrastructure with a zinc coating prevents rust and deterioration, extending their lifespan.

Rahul Sharma, Director India, International Zinc Association highlight, how by adopting a sustainable approach in construction and maintenance, we can create roadways that prioritize safety while minimizing environmental impact. Zinc in multiple ways can help ensure longevity and better-quality infrastructure.

For example, Zinc Oxide used in the manufacturing of tires, provides crucial properties such as heat resistance, durability, and improved traction. Zinc is also used in the production of brake pads and brake linings. It helps enhance the friction and heat resistance of these components, improving their performance and reducing stopping distances. Zinc-based paints and coatings are also commonly used for road markings and reflectors. These helps provide clear guidance to drivers. Zinc-based corrosion inhibitors are used in automotive paints and coatings to protect vehicle bodies from rust and corrosion.

31, May 2023
Rannkly sets a new benchmark in Online Reputation Management, serving 250+ renowned brands and counting

Noida, 31st May 2023: Rannkly, India’s leading online reputation management platform, is proud to announce its remarkable growth and success in serving over 250+ renowned brands to date. With an impressive month-on-month traction, Rannkly has been adding approximately 200 new locations to its client user base every month. The hospitality sector has emerged as the driving force generating the highest traction for Rannkly. Going ahead, Rannkly envisions reaching a cumulative of 18,000 clients across various locations by the conclusion of the fiscal year 2023-2024.

Mr. Vishnu Sharma

Commenting on the successful growth of the brand Mr. Vishnu Sharma – Chief Executive Officer, Rannkly said “In today’s digital landscape, managing one’s online reputation is no longer a choice but a necessity. It is the cornerstone of success in building trust, credibility and fostering meaningful connections with customers. This understanding has fueled Rannkly’s journey in setting a new benchmark in online reputation management, resulting in remarkable achievements. Serving over 250+ renowned brands is a testament to our commitment to delivering exceptional value and empowering businesses to enhance their online presence and reputation.”

Rannkly offers a comprehensive suite of services that have proven instrumental in establishing successful partnerships with clients across various industries. With a particular focus on the hospitality and Food & Beverage industry, Rannkly provides tailored solutions designed to meet the specific needs of businesses in these sectors. These include a centralized Single Dashboard for managing multiple platforms and locations, enabling streamlined operations and enhanced efficiency. Rannkly’s innovative Automated Response system, powered by Artificial Intelligence and Templates, ensures businesses can engage with their customers in a timely and personalized manner, resulting in an elevated customer experience.

Notably, Rannkly’s Competitors Analysis service equips businesses with valuable insights to stay ahead of the competition, while the Official WhatsApp Integration facilitates seamless communication with customers. Rannkly’s services extend to database generation, digitalized menus, feedback mechanisms, and running campaigns through the WhatsApp channel, all of which foster enhanced customer engagement and satisfaction. Moreover, Rannkly leverages its AI capabilities to generate compelling social media content, further streamlining marketing efforts for businesses in these sectors.

“Rannkly understands the vital importance of online reputation management, and we are committed to providing innovative solutions that empower businesses to take control of their online narrative. With our expertise and cutting-edge technology, we enable brands to shape their digital presence, cultivate a positive reputation, and thrive in an increasingly competitive marketplace. Rannkly is proud to be the driving force behind the success stories of numerous brands, and we remain committed to leading the way in online reputation management” added Mr. Vishnu Sharma.

Specifically for the hospitality industry, Rannkly offers Automated Ticketing capabilities, simplifying the process of handling customer inquiries and requests. Rannkly’s unwavering dedication to delivering innovative and highly effective solutions for online reputation management has propelled its sustained growth and garnered noteworthy recognition within the industry. The platform remains steadfast in its commitment to providing exceptional value and unwavering support to its ever-expanding client base, empowering businesses to elevate their online presence and fortify their reputation with confidence.

31, May 2023
Columbia Pacific Communities partners with Portea to make high-quality healthcare more accessible for its senior residents

Bengaluru,31st May 2023Columbia Pacific Communities (CPC), India’s largest and most preferred operator of senior living communities, has announced a strategic partnership with Portea, the leading out-of-hospital healthcare brand in India. This partnership brings together two leading service providers of the country with complementary services that will enable senior residents of CPC to avail specialised medical care and attention in the comfort of their homes.

For Columbia Pacific Communities, high-quality healthcare for its residents in the safety of their homes has always been of utmost priority, particularly since the pandemic. The partnership will allow CPC’s residents to get priority access to Portea’s home healthcare services at discounted rates; equally, it will allow Portea to expand its reach to a wider segment of the elderly population. The partnership will empower both brands to leverage each other’s strengths towards serving seniors better.

Portea, which has its footprint across 40+ cities in India, will serve all 10 communities of Columbia Pacific Communities across Bangalore, Chennai, Puducherry, Coimbatore and Kancheepuram.

Mohit Nirula

Speaking on the occasion, Mohit Nirula, Chief Executive Officer, Columbia Pacific Communities said, “We are excited about this partnership with Portea as it is aimed at providing the best healthcare services to our senior residents. High-quality healthcare access for our senior residents within the comfort and safety of their homes continues to be the top goal of Columbia Pacific Communities. The families of the residents can be assured knowing that their loved ones are getting the best medical care and attention available. With Portea’s expertise and resources, our residents will have access to world-class and round-the-clock medical services which will enhance the quality of care we provide to them. With this partnership, we are extending our brand philosophy of positive ageing and reaffirming our commitment to helping seniors live a healthy, happy and a fuller life.”

Commenting on the new association, Vaibhav Tewari, Co-founder and CEO Portea, said “Our strategic partnership with Columbia Pacific Communities will enable us to expand our reach and offer our healthcare services to a captive audience of senior residents of CPC. This is a unique market segment with specific healthcare requirements, and Portea’s home healthcare services can provide a customised solution to meet the needs of senior residents. By leveraging and combining CPC and Portea’s gamut of offerings and best-in-class professionals, we can achieve unrivalled healthcare services for seniors in the communities.”

Portea will offer a dedicated health manager to residents of Columbia Pacific Communities and the services will be offered at discounted rates, guided by quarterly engagement calendars. The services provided will include nursing attendant, nursing care, physiotherapy, doctor visits, lab sample collection, and medical equipment (rental and sale). Senior residents suffering from chronic illnesses will benefit the most from Portea’s trained team of medical professionals who will offer personalised and timely medical attention. This association will add value to the residents of Columbia Pacific Communities by providing them medical care and convenience.

The online healthcare industry in India is growing at a CAGR of over 27% and will be valued at INR 485 billion by 2024. Senior living communities are increasingly becoming a preferred choice for senior citizens across the country for the holistic health and wellness facilities and programmes they offer. Columbia Pacific Communities is committed to making seniors age positively and make them live healthier for longer with its single-minded focus on healthcare. Through this partnership with one of the country’s leading online healthcare platforms, it will make primary healthcare more accessible and affordable for its residents.

31, May 2023
Anthill Ventures Invites Applications for Lumos Health Program to Support Disruptive HealthTech Startups in India

Anthill Ventures Invite

India,31st May 2023 Anthill Ventures, a leading global venture capital firm and speed-scaling ecosystem, announces the launch of a new cohort for its Lumos Health program. The Lumos Health program is designed for startups with disruptive solutions and health technologies. With a focus on high-impact verticals such as oncology, fertility, maternal health, genomics, cutting edge diagnostic, digital health and longevity.

The Lumos Health program will provide startups with access to Anthill’s global network of investors, mentors, and industry experts, as well as a range of resources designed to help startups grow their businesses. The program has also established new partnerships with the Mazumdar Shaw Medical Foundation, Kauvery Hospitals, DERBI Foundation and Makers Nest, providing startups with access to a total of 51 hospitals across the country through partners. Startups will be provided with enhanced opportunities, including access to state-of-the-art wet lab facilities, invaluable clinical validation support, and comprehensive evaluation of their market-ready solutions. The program is also supported by partner HealthCare Global (HCG), India’s largest cancer care provider.

The Lumos Health program will also support startups on regulatory processes, funding advice, and market access. Each selected startup will be matched with “speed-scalers”. The clinical speed-scalers will help startups through clinical validation and regulatory support. While business speed-scalers will help startups strengthen their business model, GTM (Go-To-Market) strategy, and access to the market. Startups will also get access to the larger network and up to $1M worth of infrastructure support.

Prasad Vanga, Founder and Managing Partner of Anthill Ventures said, “As a global venture capital ecosystem, we recognize the immense potential of innovative startups to drive meaningful change and solve real-world problems. With the launch of the new cohort for our Lumos Health program, we are committed to providing startups with the resources and expertise they need to succeed, and we look forward to supporting the next generation of entrepreneurs and disruptors”.

Prof. (Dr.) Paul Salins, Managing Director, Mazumdar Shaw Medical Foundation (MSMF) said, “Accelerate your startup’s growth with the game-changing ‘Speed Scale Your Startup’ program by Lumos Health from Anthill Ventures. I proudly endorse this program for its unwavering commitment to empowering startups. Lumos Health’s comprehensive support and strategic guidance have proven instrumental in scaling startups to new heights. Don’t miss out on this exceptional opportunity to supercharge your entrepreneurial journey. Embrace ‘Speed Scale Your Startup’ and unlock your venture’s true potential”.

The previous cohort run by Lumos Health performed excellently, with KroniKare raising their Series A round of funding and working with the government of Singapore to deploy an altered use case of their solution for COVID monitoring. Lumos Health has evaluated over 500 startups and 11 startups successfully qualified for their scaling programs. The program invites startups with breakthrough solutions, technology, and innovation for the healthcare industry, an established product market fit with customers, and a clear growth strategy. Interested startups can apply here.

31, May 2023
Serentica Renewables Wins Renewable Energy Platform Of The Year at The Asset Triple A Sustainable Infrastructure Awards 2023

Mumbai, 31st May 2023 Serentica Renewables, (“Serentica” or the “Company”), a decarbonization platform that seeks to accelerate the energy transition for energy-intensive industries, has been recognised as the “Renewable Energy Platform of the Year” in the Best Deals (South Asia) category at The Asset Triple A Sustainable Infrastructure Awards 2023.

Serentica won the “Renewable Energy Platform of the Year” award for emerging as one of the most promising renewable energy platforms, focused on decarbonisation of the Commercial & Industrial segment in India. With investment commitments worth $650 million from leading global investment firm – KKR, the company is geared up to install 4000 MW of renewable energy capacity that will aid clean energy delivery to large-scale industrial customers. In the medium term, Serentica’s vision is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.

Commenting on the marquee award win, Pratik Agarwal, Director, Serentica Renewables, said, “This award is a recognition of our commitment to decarbonize the industrial sector in India. We believe that renewable energy is the key to a sustainable future, and Serentica is proud to be playing a vital role in making it a reality.”

Serentica has recently signed a new set of Power Delivery Agreements (PDAs) to deliver round-the-clock green energy to some of the leading industrial customers in India. Currently, it is in the process of developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. Once commissioned, these projects will supply 9 billion units of green energy every year, using the inter-state transmission network, thereby decarbonizing a large portion of the electricity consumption of large-scale industrial customers.

?The Asset’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury and capital markets. It has over two decades of experience in bestowing pre-eminent recognition on the organizations that have excelled in their respective industry.

31, May 2023
Senco Gold & Diamonds becomes the first Qualified Jeweller from East to import bullion on GIFT City’s IIBX post ICEGATE integration

Mumbai,31st May 2023 Senco Gold & Diamonds has announced that it became the first Qualified Jeweller from East India to import gold on India International Bullion Exchange (IIBX) post ICEGATE integration. Senco Gold & Diamonds, which was notified as a Qualified Jeweller (QJ) by the IFSCA (International Financial Services Centres Authority) in March 2023, is permitted to purchase Bullion Depository Receipt (BDR) on IIBX for import of gold and completed its first trade successfully where the BDR got settled within 30 minutes. With this Senco also became the first company from the East to trade Gold Mini 999 100 grams (gold bars of 999 purity) contract post-ICEGATE implementation.

India’s first International Bullion Exchange (IIBX) was launched in the GIFT City (Gujarat International Finance Tec-City) in July 2022 to act as the Gateway for Bullion Imports into India, with an aim to channel through the exchange, all the bullion imports for domestic consumption.

Indian Customs Electronic Data Interchange Gateway (ICEGATE), the national portal of Indian Customs, an interface between the trade users and the Customs Department and which acts as a hub for exchanging information with external trading partners involved in international trading was integrated with IIBX on May 10, 2023, thereby opening up the processes for exporters of jewelry to take advantage of competitive rates when importing gold through IIBX.

Mr. Suvankar Sen, MD & CEO, Senco Gold & Diamonds, said, “The launch of IIBX was indeed an important reform which allowed qualified jewellers to import gold. Being one of the first companies to trade on the platform post ICEGATE implementation is an important milestone for us at Senco as we believe in staying ahead of the curve and importing gold through the platform gives us the advantage of price discovery and assurance of quality. We are happy that we could utilise the benefits provided by IIBX and are thankful to IFSCA, Customs authorities, Mr. Ashok Gautam and team IIBX”