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Bridging Continents: StoneX’s Strategic Expansion from Dubai to India

By: Gustian Farrow, Head of StoneX TV • Content Channels

Bridging Continents: StoneX’s Strategic Expansion from Dubai to India

In a recent Leadership Roundtable in Dubai, StoneX Chief Executive Philip Smith joined APAC CEO Greg Kallinikos, APAC & ME Head of Metals Amar Singh, MEA & India Head of Precious Metals Anshuman Sharma, and StoneX Regional Business Director Ritu Singh to discuss how StoneX’s presence in Dubai has served as the perfect springboard into one of the world’s fastest-growing markets—India.

 

Key Takeaways:

  • Early market presence in Dubai has built enduring credibility and strong relationships with regulators and banks
  • Gift City leverages free trade benefits to create a seamless gateway for cross-border transactions into India
  • Diversification beyond precious metals into broader commodities and digital financial products is driving sustainable growth

By capitalizing on its early footprint in the UAE and developing a strategic pathway via Gift City, StoneX is demonstrating how to leverage “boots on the ground” to bridge continents and create new opportunities in commodities and beyond.

Capitalizing on First-Mover Advantage

A key catalyst for StoneX’s expansion into India is Gift City, the nation’s first international financial services center. StoneX seized the opportunity to become the first full-time international member on the local exchange, unlocking the ability to import and distribute gold more seamlessly, avoiding traditional intermediaries, and streamlining the supply chain from Dubai to India.

“So would you go so far to say from, as a corridor between UAE and India, we are officially now the number one non-bank importer of gold into India?”

Philip Smith, StoneX Group Chief Executive

“Yes.”

Anshuman Sharma, StoneX Head of Precious Metals, MEA & India

 

By aligning itself with Gift City’s evolving regulatory framework, StoneX has secured a streamlined channel for gold distribution–one that is expected to expand to other commodities as the Indian market continues its liberalization journey.

The Role of Free Trade Zones & Gift City

India’s Comprehensive Economic Partnership Agreement (CEPA) with the UAE is strengthening this trade corridor, reducing tariffs on gold originating from Dubai-based refineries. The result is that qualified jewelers in India can now import gold more cost-effectively.

“They (Gift City) recognized the potential that we bring, and that’s why you represented StoneX at the round table with the Prime Minister of India—showcasing our commitment to the Gift City.”

Anshuman Sharma, StoneX Head of Precious Metals, MEA & India

 

This commitment extends beyond just precious metals; StoneX’s aim is to broaden its presence into other commodities, tapping into India’s vast and rapidly modernizing economy.

Building on Bilateral Trade & CEPA

India’s Comprehensive Economic Partnership Agreement (CEPA) with the UAE is strengthening this trade corridor, reducing tariffs on gold originating from Dubai-based refineries. The result is that qualified jewelers in India can now import gold more cost-effectively.

“They (Gift City) recognized the potential that we bring, and that’s why you represented StoneX at the round table with the Prime Minister of India—showcasing our commitment to the Gift City.”

Anshuman Sharma, StoneX Head of Precious Metals, MEA & India

This commitment extends beyond just precious metals; StoneX’s aim is to broaden its presence into other commodities, tapping into India’s vast and rapidly modernizing economy.

Expanding Beyond Precious Metals

While StoneX’s early success in precious metals remains a cornerstone for the company, the future lies in diversifying product offerings. The strategy now focuses on leveraging the existing infrastructure to broaden into other commodities and financial products.

“We’ve been instrumental (in Gift City), similar to what we did in the UAE—helping regulators and frameworks. We see that as just the start for other products and asset classes.”

 

Anshuman Sharma, StoneX Head of Precious Metals, MEA & India

This vision includes integrating digital platforms to provide seamless multi-asset trading experiences. By expanding its product suite, StoneX aims to serve a wider customer base—from large financial institutions to tech-savvy retail investors—thus driving cross-border growth and enhancing market liquidity.

Conclusion

StoneX’s strategic expansion from Dubai into India highlights how a committed local presence, combined with emerging free-trade opportunities, can bridge continents and unlock new markets. Early leadership in Dubai provided a trusted foundation, while Gift City and CEPA offered critical pathways into India’s thriving precious metals landscape. By building on these strong foundations and continuously diversifying its offerings, StoneX is poised to maintain influence in shaping the future of cross-border commerce between two of the world’s most dynamic markets.

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The subsidiaries of StoneX Group Inc. provide financial products and services, including, but not limited to, physical commodities, securities, clearing, global payments, risk management, asset management, foreign exchange, and exchange-traded and over-the-counter derivatives. These financial products and services are offered in accordance with the applicable laws in the jurisdictions in which they are provided and are subject to specific terms, conditions, and restrictions contained in the terms of business applicable to each such offering. Not all products and services are available in all countries. The products and services offered by the StoneX Group of companies involve risk of loss and may not be suitable for all investors. Full Disclaimer. This content is not intended for residents of any particular country, and the information herein is not advice nor a recommendation to trade nor does it constitute an offer or solicitation to buy or sell any financial product or service, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Please refer to the Regulatory Disclosure section for entity-specific disclosures. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc. The information herein is provided for informational purposes only. This information is provided on an ‘as-is’ basis and may contain statements and opinions of the StoneX Group of companies as well as excerpts and/or information from public sources and third parties and no warranty, whether express or implied, is given as to its completeness or accuracy. Each company within the StoneX Group of companies (on its own behalf and on behalf of its directors, employees and agents) disclaims any and all liability as well as any third-party claim that may arise from the accuracy and/or completeness of the information detailed herein, as well as the use of or reliance on this information by the recipient, any member of its group or any third party.


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