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Traders learn the lessons of commodity exchange

[vc_row][vc_column][vc_column_text]Programmes organized in Ahmedabad, Jamnagar, Gandhinagar, surat, Dewas, Jabalpur, & Indore Mumbai: Notwithstanding the gradual growth and progress witnessed by the commodity futures market in India, to further entrench financial literacy in the cities of Madhya Pradesh and Gujarat, Multi Commodity Exchange of India Ltd (MCX) organised 12 commodity awareness programmes in May. These programmes were organized in association with various trade and business associations such as Khad Bij Association, Depalpur; Association of Industries, Dewas; Jabalpur Sarafa Association, South Gujarat Productivity Council (SGPC), Surat; Jamnagar Branch of WIRC of ICAI, Gandhinagar District Shopping Center Merchant Association  to name a few. The programmes were customized keeping in mind the target audiences which included, traders, producers, processors, jewelers, manufacturers, professionals, and farmers. There were presentations on benefits of hedging, role of commodity futures exchanges and importance of futures market as tool for price discovery and price risk management, while focusing on trading aspects, rules and by-laws of the exchange; and clearing and settlement procedures, among others. One of the reason attributed for the growth of commodity futures market in India in the last few years has been the financial inclusion of a rapidly growing number of small market participants. By partnering with these associations, institutes and trade bodies of repute across the country commodity exchanges such as MCX have been undertaking the challenge of spreading literacy on commodity markets and demystifying commodity markets’ lexicon for commodity stakeholders. This is the key for creating new avenues of growth in this sector thereby increasing market penetration. Through these literacy initiatives, especially the ones organized in the hinterlands of the country, MCX’s efforts are targeted towards adding value to the livelihoods of small traders, SMEs, MSMEs and the farming community. Thus, enabling them to take informed decisions, making the commodity trading platform more relevant and accessible and take the benefits of commodity markets to the masses through efficient, safe and secure ecosystem while enhancing economic value for all stakeholders.[/vc_column_text][/vc_column][/vc_row]

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About Sanjay Trivedi

Sanjay Trivedi is honorary editor of Asia Times. He is senior Indian Journalist having vast experience of 25 years. He worked in Janmabhoomi, Vyapar, Divya Bhaskar etc. newspapers and TV9 Channel as well as www.news4education.com. He is working as Media Officer in Gujarat Technological University, which has 440 colleges under its umbrella.

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