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Informist, Thursday, Jul. 30, 2026

 

MUMBAI - To enable India's emergence as a price-setter in commodity markets, the Multi Commodity Exchange of India, along with the commodity markets industry, will host a three-day Global Commodity Conclave from Aug. 12 at the Jio World Convention Centre in Mumbai. India is no longer just a passive taker of global commodity prices. The country is actively influencing the global commodity markets through massive participation in retail and institutional segments and product innovation, particularly in the bullion segment, MCX officials said at a curtain-raiser event in Mumbai.

 

"India is evolving from a major gold consumer market into an investment market," Surendra Mehta, national secretary, India Bullion and Jewellers Association, said. "Now, MCX is positioned to serve as the premier gateway for bullion financialisation."

 

The conclave will bring policymakers, global exchange officials, market infrastructure leaders, institutional investors, corporations, financial institutions, and retail leaders under one roof. "We have the (officials from) Chicago Mercantile Exchange," MCX Managing Director and Chief Executive Officer Praveena Rai said. "They are global leaders in crude oil and natural gas. So they will talk about trends and how one can follow energy... We have EEX, which is the European Electricity Exchange, and how they look at hedging and really looking at power." Participation from the London Metal Exchange and the Dubai Gold and Commodities Exchange is also confirmed, she added. 

 

"At some level, we all compete, but to grow this market, we need all the voices on the table, and everyone is going to benefit because there's an opportunity to really look at what are the best-in-class processes, standards, approaches," Rai said, adding that the conclave is expected to offer deep learning engagement.

 

Though Rai did not disclose any upcoming new product launches by MCX, she said the exchange is exploring exchange-traded funds in the base metals complex, particularly in copper after the recent rally in the red metal. Gold ETFs and silver ETFs have successfully attracted both retail and institutional participation. MCX is focusing on attracting wider participation in commodities not only for price hedging but also as an investment avenue, she added.  End

 

Reported by Afra Abubacker and Abhijit Doshi

Edited by Rajeev Pai

 

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