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IRMA, NCDEX launch centre in Gujarat to promote commodity derivatives mkt

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NewsDrum Desk
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New Delhi, Feb 5 (PTI) Commodity exchange NCDEX's Investor Protection Fund and Institute of Rural Management Anand (IRMA) on Monday launched a centre of excellence in Anand, Gujarat, for growth of commodity derivatives market.

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NCDEX and IRMA would collaborate 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", a statement said.

The project seeks to redefine policy maker’s perspectives on commodity derivatives markets, fostering a deeper understanding of price discovery for both banned and unbanned commodities, it added.

IRMA will spearhead efforts to enhance the scope of commodity markets through rigorous research and analysis. NCDEX will provide technical support and data-related assistance.

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NCDEX MD & CEO Arun Raste 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 fuelling agri-marketing growth." This joint initiative is an essential step towards altering the agricultural landscape and encouraging innovation in commodities markets.

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." Dileep Sanghani, Chairman of World Cooperation Economic Forum as well as IFFCO and NCUI, assured all the support from the cooperative sector for this unique collaboration.

A national workshop on strategizing the establishment of Cooperative Economic Zones (CEZs) in India was jointly organized by IRMA, NCDEX- Investor Protection Fund Trust (IPFT) and the World Cooperation Economic Forum (WCopEF). PTI MJH SGC MR

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