The Economic Times

Government notifies commodity trading contract as financial product for IFSC GIFT City

The government has notified commodity trading contracts as financial products under the IFSCA Act. This aims to establish GIFT City as a global commodity trading hub for India. IFSCA will regulate these contracts to enhance international trading capabilities. Establishing a global platform will help India capture a larger share of commodity trade. This initiative is crucial for managing Indias vulnerabilities to global price fluctuations and supply chain disruptions.