India must aspire to be a commodity price discovery centre - IFSCA Chairman
This story was originally published at 15:00 IST on 3 October 2026
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--IFSCA chair: Seeing encouraging signals in India's external sector
--CONTEXT: IFSCA Chairman Rajaraman's comments at an event in New Delhi
--IFSCA chair: Need to scale up ease of doing business to attract FPIs
--IFSCA chair: India must aspire to be commodity price discovery centre
NEW DELHI – India should not only be a large consumer of commodities but should aspire to be a commodity price discovery centre as well as commodity finance, risk management and international commodity business hub, International Financial Services Centres Authority Chairperson K. Rajaraman said Saturday.
"For a long time, a significant part of commodity risk management and international commodity activity was connected to markets and financial centres outside India. The opportunity before us is to increase the onshore business activity," he said at the 12th International Convention of Commodity and Capital Market Participants Association of India here.
Rajaraman said IFSC is working with the department of economic affairs on framework for commodity trading as a financial service and commodity trading contracts as a financial product. "This will be the first step to make IFSC a hub for commodity trading and broking," he said.
He also called on regulators to take measures, such as increasing ease of doing business and integration with global supply chains, to attract foreign direct investors into India. Trust, certainty and predictability in the financial markets are also very important for reducing the risk perception of global investors, Rajaraman added.
"This (FPI investment) will require significant scaling up of the ease of doing business for investors by enhancement to laws, regulations and procedures. Regulators have a key role in simplifying and aligning sectoral regulations with global practices," he said. "Scaling integration with global supply chains, global capital flows and global trade is also crucial."
He expressed confidence in the Indian economy's growth, adding that there are also encouraging signals from India's external position. End
Reported by Pratiksha and Shakshi Jain
Edited by Deepshikha Bhardwaj
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