NSE signs strategic collaboration with Augmont to strengthen India’s Electronic Gold Receipts (EGR) ecosystem

National Stock Exchange of India (NSE) has entered into a strategic collaboration with Augmont Enterprises Limited, one of India’s leading integrated gold platforms, to support the development and growth of the Electronic Gold Receipts (EGR) ecosystem in India.

The collaboration aims to strengthen the exchange-regulated spot gold market by leveraging Augmont’s capabilities in EGR creation, redemption, liquidity provision, delivery and price discovery. The two organisations will work together to increase market participation, improve liquidity and accelerate the adoption of EGRs among investors, jewellers and other market participants.

Electronic Gold Receipts (EGRs), launched by NSE on 4 May 2026, enable physical gold to be converted into exchange-traded, dematerialised securities held in investors’ demat accounts. They facilitate transparent price discovery, physical redemption and the ability to lend gold through the exchange framework.

India is estimated to hold approximately 30,000–35,000 tonnes of gold in private hands. EGRs provide a regulated mechanism to bring this gold into the formal financial system by enabling investors to hold, trade, pledge, redeem and lend gold. Through the Securities Lending and Borrowing (SLB) mechanism, EGR holders can lend their gold to jewellery manufacturers while retaining ownership and market price exposure.

The development of a domestic EGR market also has the potential to reduce reliance on imported bullion by mobilising domestically held gold through a regulated exchange framework.

Mr. Sriram Krishnan, Chief Business Development Officer (CBDO), NSE, said: “The empanelment of refiners and participation of liquidity providers are key building blocks in developing a trusted and robust bullion market infrastructure.”

Mr. Ketan Kothari, Director, Augmont Enterprises Limited, said: “Just as UPI transformed payments by bringing millions into a trusted digital ecosystem, EGRs can formalise India’s vast household gold holdings by enabling them to be held, traded, lent and redeemed through a regulated exchange framework.”

Mr. Surendra Mehta, National Secretary, India Bullion and Jewellers Association (IBJA), said: “The collaboration reflects the shared commitment of NSE and Augmont to build a transparent, efficient and globally competitive gold ecosystem through exchange regulated Electronic Gold Receipts.”

National Stock Exchange of India (NSE) is the world’s largest derivatives exchange by trading volume (contracts) for calendar year 2025, according to the Futures Industry Association (FIA).