StoneX to Launch Metals Trading Desk in India

StoneX Group, a US financial services company, is opening a new desk in India to trade precious metals like gold and silver.

This is their first local trading office in India, even though they've been importing gold for 20 years.

They plan to hire more people in Mumbai and Bengaluru to help with operations and compliance.

The company thinks India could become a big part of their business in the next 10 years.

They already have offices in Pune and Bengaluru with over 600 employees.

This move is part of their long-term plan to grow in India, not just because of recent price changes in metals.