Reinforcing its global ranking as the leading and most sought-after gold trading hub, UAE which validates its competitiveness in the gold industry as well as its compliance with the best international practices in the field. The introduction of the UAE Good Delivery (UAEGD) Standard which assures the quality, reliability, and technical specifications of refineries and gold production facilities in the country, demonstrates its continued efforts in increasing its efficiency in exporting gold to other major markets. This has further raised the trust and confidence that various significant global markets place in the gold exported from the UAE as it is one of the main exporters of the gold in the world.

The first shipment of gold to the International Bullion Exchange of India (IIBX) was exported by the Emirates Gold Bullion Market Committee, which is responsible for organising and developing the UAE's national gold policy. This was a significant step that raised the value of the UAE Standard for Good Delivery of Gold between the UAE and India. The agreement involved the export of 100 kilograms of gold from the UAE Gold Refinery, following the inclusion of the shipment export contract in the international investment market. This is the first time an export contract that complies with the requirements of the UAEGD has been included on an international exchange, which has substantially assisted in increasing the confidence of international stock exchanges in the nation's gold exports.

Owing to the high level of confidence in the efficacy of the Emirates Standard for Good Delivery of Gold, the USD 4 million contract is expected to stimulate the demand for gold issued by the United Arab Emirates among Indian gold enterprises and jewellery factories. The agreement will further showcase India International Exchange's integral role as a preferred location and gateway for the UAE gold bullion trade and import in India and the region, in the subsequent phase.

Previously, the UAE had published a federal policy for the gold sector to govern and develop the nation's gold trading, in order to conform to the finest international standards employed in this field and reinforce the UAE's position as a major centre for gold trading. This policy consists of four initiatives. First is the creation of the Emirates Standard for Good Delivery of Gold, a set of guidelines that specify the physical properties of gold and other technical matters related to them, including the adoption of gold purification facilities based on ethical sources of the process and supply of the gold. This also includes the establishment of the UAE Bullion Market committee, the creation of a database of gold trading businesses, and developing a federal gold trading platform.