India International Exchange
Corporate brand
UnclaimedIndia's first international stock exchange, operating from the International Financial Services Centre in GIFT City.
Last updated August 24, 2026
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Overview
India International Exchange, commonly known as India INX, is an international exchange operated by India International Exchange IFSC Limited in the International Financial Services Centre at GIFT City, Gujarat. It was established as a subsidiary of BSE Limited and began operations in January 2017, making it the first international stock exchange established in India. The exchange was inaugurated on 9 January 2017, and trading commenced on 16 January 2017. India INX was created to provide an internationally oriented marketplace within India's financial-services-zone framework. Its location in GIFT City allows it to serve Indian and overseas investors through a platform designed to support cross-border capital raising, trading, and investment activity. The exchange is regulated by the Securities and Exchange Board of India and operates under the rules applicable to India's International Financial Services Centres. The exchange supports several asset classes, including equity derivatives, currency derivatives, commodity derivatives, debt securities, and access to international securities. Its product environment is intended to connect Indian issuers and investors with global markets while allowing international participants and non-resident Indians to trade Indian and overseas instruments through an Indian financial centre. India INX has also supported the listing of foreign-currency and offshore rupee-linked debt instruments, including bonds issued by multilateral institutions. A central feature of its operating model is an extended trading schedule. India INX operates for up to 22 hours a day, six days a week, allowing participation across Asian, European, and North American time zones. The exchange runs on Deutsche Börse's EUREX T7 technology platform and has promoted low-latency execution, citing a turnaround time of approximately four microseconds. Its extended hours and electronic infrastructure are intended to make the venue more accessible to international investors. The exchange also provides equity and sectoral indices, including India INX 50, India INX Quality 30, India INX Midcap, and India INX Bankex, alongside thematic or market-segment indices covering gold, infrastructure, consumer durables, information technology, energy, pharmaceuticals, and small-cap companies. Its listing framework follows applicable securities-market and IFSC requirements, including provisions concerning issuer net worth, profitability history, issue size, governance, disclosure, and shareholding. India INX occupies a strategic role in India's effort to develop GIFT City as an international financial hub. Its business scope is broader than a conventional domestic stock exchange: it combines securities trading, derivatives, commodities, international listings, and cross-border market access. Publicly available reference material identifies the exchange as active, although detailed current ownership, executive, financial, and market-share information is not established in the supplied sources.
History
India International Exchange was established by BSE Limited as an international exchange serving the International Financial Services Centre at GIFT City, Gujarat. The project formed part of India's broader attempt to create a globally connected financial-services hub with facilities for international investment, securities issuance, derivatives, and other cross-border activities. Rather than operating as a conventional domestic exchange, India INX was designed to provide a venue where international investors, Indian issuers, and non-resident Indians could access a wider range of instruments and trading hours. The exchange was inaugurated on 9 January 2017 and began trading on 16 January 2017. Its creation made it India's first international stock exchange. From the outset, the platform was presented as a technology-focused venue intended to compete for international flows from established financial centres. It adopted the EUREX T7 trading system and promoted very low execution latency. Its schedule of up to 22 hours per day, six days per week was designed to overlap with major global time zones and reduce the limitations faced by investors trading only during Indian domestic-market hours. India INX developed a multi-asset market structure. Its offerings include equity derivatives, currency derivatives, commodity derivatives, debt instruments, and international securities. The exchange has also provided access to United States stocks and exchange-traded funds and has supported the listing of international debt. In early 2020, the Asian Development Bank raised $118 million through offshore rupee-linked 10-year bonds listed on the exchange. This transaction illustrated the venue's intended function as a channel for international and rupee-linked capital-market activity. The exchange also built an index offering covering broad-market, factor, sectoral, and commodity-linked themes. Examples include India INX 50, India INX Quality 30, India INX Midcap, India INX Bankex, and indices associated with gold, infrastructure, consumer durables, information technology, energy, pharmaceuticals, and small-cap stocks. These indices help organize the exchange's listed and tradable universe and provide reference measures for market participants. India INX operates within India's securities and IFSC regulatory framework, with the Securities and Exchange Board of India serving as the principal securities-market regulator identified in the supplied material. Issuers seeking to list must satisfy applicable requirements relating to financial strength, profitability history, issue size, ownership, governance, disclosure, and listing agreements. The GIFT City setting also provides a regulatory and tax environment intended to encourage international financial activity. Publicly described activity indicates that India INX has sought to expand international-equity access and trading participation. Reference material reports growth in average daily foreign-stock volume during 2022, rising from approximately $5,242 in January to $42,954 in May and $195,139 in June, with the average during the final week of June reaching about $462,036. These figures are historical snapshots rather than current performance measures. The supplied references do not establish current revenue, profitability, ownership percentages, executive leadership, or market share. India INX remains an active BSE-backed exchange brand focused on international market access from GIFT City.
- 2022
Growth in foreign-stock trading activity
[1]Reference material reported increases in India INX's average daily foreign-stock volume during the first half of 2022, including a further rise during the final week of June.
- 2020
Asian Development Bank bond listing
[1]The Asian Development Bank raised $118 million through offshore rupee-linked 10-year bonds listed on India INX.
- 2017
Inauguration of India INX
[1]India International Exchange was inaugurated on 9 January 2017 at GIFT City as India's first international stock exchange.
- 2017
Trading begins
[1]Trading operations began on 16 January 2017 under the BSE-backed India INX structure.
Products and positioning
An internationally oriented, technology-led exchange platform based in India's GIFT City financial centre, serving cross-border investors and issuers through extended trading hours and multiple asset classes.
Derivatives
Equity derivatives
India INX offers exchange-traded equity-derivative instruments designed to provide exposure to movements in shares and equity indices. These products support hedging, tactical trading, and leveraged market strategies within the exchange's international financial-centre framework.
Derivatives
Currency derivatives
Currency derivatives provide instruments for managing or taking positions on exchange-rate movements. They form part of India INX's cross-border offering and are relevant to investors and businesses with international currency exposure.
Commodities
Commodity derivatives
The exchange provides commodity-derivative products, extending its marketplace beyond equities and currencies. Commodity contracts can support price-risk management and trading exposure in an internationally accessible venue.
International securities
International equities and exchange-traded funds
India INX provides access to a broad range of United States stocks and exchange-traded funds. This offering is intended to give Indian and international participants a route to overseas equity exposure through the GIFT City financial centre.
Fixed income
Debt securities and international bonds
The exchange supports listings and trading in debt instruments, including international and offshore rupee-linked bonds. Its listing of Asian Development Bank bonds illustrates its role in facilitating cross-border debt issuance and investor access.
Market indices
India INX indices
India INX publishes and supports a range of benchmarks, including India INX 50, India INX Quality 30, India INX Midcap, India INX Bankex, and sectoral or thematic measures covering gold, infrastructure, consumer durables, information technology, energy, pharmaceuticals, and small-cap companies.
Brand decisions
2017
Adoption of an extended-hours international exchange modelStrategyBackground
India INX was created to serve international investors and non-resident Indians from GIFT City's International Financial Services Centre rather than operating only within conventional Indian domestic-market hours.
Action taken
The exchange adopted a schedule of up to 22 hours per day, six days per week, and positioned itself as a multi-asset, cross-border electronic marketplace.
Aftermath
The extended schedule enabled participation across multiple global time zones and became one of the exchange's principal points of differentiation.
2017
Deployment of the EUREX T7 trading platformStrategyBackground
The new exchange required an electronic infrastructure capable of supporting international participation and low-latency trading.
Action taken
India INX adopted Deutsche Börse's EUREX T7 technology platform and promoted an approximate four-microsecond turnaround time.
Aftermath
The technology choice reinforced India INX's positioning as a fast, electronically operated international venue.
Recent events
Reported
India INX announced Gold Quanto and Silver Quanto futures trading[3]
India International Exchange announced that it would launch futures trading in Gold Quanto and Silver Quanto from Monday.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Sources3 sources
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