The futures markets in India are only four years old. National Multi-Commodity Exchange of India, Ahmedabad (NMCE), was the first to trade in futures from November 2002. Multi Commodity Exchange of India Ltd., Mumbai (MCX) and National Commodity and Derivatives Exchange Ltd., Mumbai (NCDEX) started trading a year later. Trading volume and value of futures market in the past two years have increased so much that it pales the stock markets. During 2005-06, the total value of commodity futures trade was Rs.21340 billion as compared to Rs.5710 billion during 2004-05, showing an increase of 274%. The volume of trade has also gone up to 668.5 million tonnes during 2005- 06 as compared to 194.2 million tones during 2004 05. The trade volume has also gone up by 244% during 2005-2006. Total value of trading at the Commodity Exchanges during the fortnight from April 1 to 15 was Rs.1560 billion. The value of trade between April 1, 2006 and June 15, 2006 was Rs.8340 billion.
Source:- IIPM-Business and Economy,
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