StoneX Group to Launch Precious Metals Trading Desk in India in 2026
U.S.-based financial services firm StoneX Group will establish its first local precious metals trading desk in India by early 2026, marking a significant expansion of its long-standing bullion operations in the country. The firm, which has been importing gold into India for nearly two decades through Dubai and GIFT City, said the new platform will primarily cater to jewellers while also extending services to scrap and recycling businesses.
As part of the expansion, StoneX plans to increase technology hiring in India by up to 20% annually over the next three years. The company will strengthen its operations and compliance teams in Mumbai and Bengaluru, including specialists in anti-money laundering. It also plans to introduce financial derivatives in the Indian market gradually, supported by its global capability centres in Pune and Bengaluru, which already employ more than 600 staff in areas such as software development and cybersecurity.
Greg Kallinikos, CEO for Asia Pacific, said India has the potential to match the region’s entire profit contribution within a decade as more services roll out. He emphasised that the expansion reflects long-term strategic ambitions rather than recent surges in gold and silver prices. “We always had aspirations to come to India,” he said, highlighting the firm’s growing tech footprint and deeper understanding of the local ecosystem as key enablers.
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