Anand in Gujarat embarks upon a new journey: This time to spearhead the development of Commodity Derivatives ecosystem
FinTech BizNews Service
Mumbai, February 6, 2024: Premier Commodity Exchange, National Commodity and Derivatives Exchange (NCDEX) and the Institute of Rural Management Anand (IRMA) launched today "Shri Tribhuvandas Patel Centre of Excellence for Commodity Markets" in Anand, Gujarat. This initiative aims to further develop the commodities derivatives ecosystem providing support in the areas of research, policy formation, policy advocacy, capacity building, thought leadership, product development and leveraging synergies within the industrial and financial ecosystem.
The project seeks to redefine policy makers’ perspectives on commodity derivatives markets, fostering a deeper understanding of price discovery in commodities markets. IRMA, known for its expertise in rural management, will spearhead efforts to enhance the scope of commodity markets through rigorous research and analysis. The institution's role in redefining the FPO model aligns with its commitment to sustainable rural development. NCDEX, a key player in the commodities market, will play a pivotal role by providing technical support and data-related assistance. Leveraging its extensive experience, NCDEX aims to contribute significantly to the success of the Centre of Excellence.
Mr. Arun Raste, MD & CEO, NCDEX said, “We are entering the Amrit Kaal during which we have resolved to make India a developed nation. If this has to change into reality, Agri marketing ecosystem must have to take a giant leap from where it is now and derivatives market is a key driver in fueling agri marketing growth. That’s why this Centre of Excellence is going to play a vital role in our journey to become from developing to developed.”
This joint initiative is an essential step towards altering the agricultural landscape and encouraging innovation in commodities markets. The Centre of Excellence aims to raise the commodities derivatives market through collaborative efforts, establishing a solid foundation for long-term growth.
Mr. Umakant Dash, Director, IRMA said, “NCDEX is involved in organizing dozens of activities to create awareness around derivatives market and IRMA has a deep understanding of the rural ecosystem. So, we expect this collaboration to go a long way in achieving the goal of making agri marketing a sustainable and powerful source of livelihood through the derivatives market.”
About NCDEX:
NCDEX is a leading, professionally managed, agricultural commodity and derivative Exchange in India which offers services across the entire post-harvest agricultural commodity value chain.
As India’s leading online Exchange, NCDEX offers a wide range of benchmark products across agriculture commodities. NCDEX brings buyers and sellers together through its electronic trading platform. Some of NCDEX’s key investors include National Stock Exchange of India Limited, Life Insurance Corporation of India, National Bank for Agriculture and Rural Development, Indian Farmers Fertiliser Co-operative Limited, Oman India Joint Investment Fund, Punjab National Bank, Canara Bank, Build India Capital Advisors LLP, and Investcorp Private Equity Fund I (formerly known as IDFC Private Equity Fund III).
