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Is the concept of trading in commodity futures new in India?

April 26, 2017commodity concept Futures India trading

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Is the concept of trading in commodity futures new in India?

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Commodity futures market has been in existence in India for centuries. The Government of India banned futures trading in certain commodities in 70s. However trading in commodity futures has been permitted again by the government in order to help the Commodity producers, traders and investors. Worldwide, commodity exchanges originated before the other financial exchanges. In fact most of the derivatives instruments had their birth in commodity exchanges.