National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management Anand (IRMA) on Monday launched a centre of excellence in Anand, Gujarat, for growth of commodity derivatives market.
Named as Tribhuvandas Patel Centre of Excellence for Commodity Markets, it will help 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 joint statement by NCDEX and IRMA said.
The project seeks to redefine policymaker’s perspectives on commodity derivatives markets, fostering a deeper understanding of price discovery for both banned and actively traded commodities, it said.
While 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.
“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,” said NCDEX MD and CEO Arun Raste. This joint initiative is an essential step towards altering the agricultural landscape and encouraging innovation in commodities markets, he added.
According to Umakant Dash, Director of IRMA, NCDEX is involved in organising dozens of activities to create awareness around derivatives market and IRMA has a deep understanding of the rural ecosystem. The collaboration will go a long way in achieving the goal of making agri-marketing a sustainable and powerful source of livelihood through the derivatives market, he said.
Dileep Sanghani, Chairman of IFFCO and NCUI as well as World Cooperation Economic Forum (WCopEF), assured all the support from the cooperative sector for this unique collaboration.
The WCopEF, in association with IRMA and NCDEX, organised a national workshop at Anand on strategising the establishment of Cooperative Economic Zones (CEZs) in the country.
