Bullion vaulting services commenced in GIFT City, India’s only operational smart city and International Financial Services Centre(IFSC). Sequel Logistics, India’s leading secure logistics company, has commenced its state of the art precious Commodities Vault, for storage of Gold & Silver, at GIFT City’s multiservices Special Economic Zone (SEZ) in Gandhinagar.
Welcoming Sequel Logistics to GIFT City, Tapan Ray, MD & Group CEO, GIFT City said “After witnessing significant participation from banking and financial services players, GIFT City will also become a key platform for the bullion trading ecosystem. With the announcement of regulations on international bullion exchange at GIFT City, we expect many big players in this segment to set up their base at GIFT City and take advantage of its world class infrastructure.”
Speaking on the occasion, Mr Sharad Jobanputra, Chaiman & Managing Director, Sequel Logistics said, “We are delighted to announce the commencement of operations at GIFT City. Sequel’s high secure Free Trade & Warehousing Zones (FTWZ) vault for precious commodities at GIFT City, will help in providing a seamless, comprehensive and efficient storage & logistics solution to all the market participants, both in India and overseas. The Foreign suppliers, Indian Importers & Banks, Trading Platforms like BSE, NSE, MCX, Jewellery Manufacturers and Retailers can now access this state-of-the-art secure vault facility at Gift City for importation, customs clearance, long term storage and quick delivery of bullion across India.”
The key benefits for Indian and International bullion market players to consider GIFT City for import and long term storage for precious commodities are geographical proximity of GIFT City to important manufacturing hubs; better management of the inventory; deferred customs duty payment; long term storage insulated from duty fluctuations; duty exemption on re-export& lower transaction cost.
Sequel Logistics is a Supply Chain Management company, specialized in providing comprehensive solutions, services & products in the ‘Critical Logistics’ segments. As a market leader in niche and specialized segments, Sequel Secure offers logistics solution in the precious & valuables cargo segment and Sequel Lifecare offers logistics solution in the life sciences and healthcare segment, including movement of Covid samples, authorized by ICMR / NIV, Pune.