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What is the background of commodities future trading in India?

April 26, 2017background Commodities future India trading

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What is the background of commodities future trading in India?

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Bombay Cotton Trade Association Ltd., set up in 1875, was the first organised futures market. Forward contracts (Regulation) Act was enacted in 1952 and the Forwards Markets Commission (FMC) was established in 1953 under the Ministry of Consumer Affairs and Public Distribution. In due course, several other exchanges were credited in the country to trade in diverse commodities.