Views of Mr. Samir Shah, MD & CEO, NCDEX on the Union Budget 2015-16

Mr. Samir Shah, MD & CEO, NCDEX on the Union Budget

“The repeal of the FCRA and introduction of commodity derivatives under the definition of securities in the SCRA answers the long awaited requirement of empowered regulation of commodity markets. This will pave the way for deepening of the commodity markets through participation of banks, FIIs and MFs. The introduction of options and indices has been enabled through the adoption and the application of the SCRA. This also means that the commodity market will now align with the way the securities markets function.

It’s a game changing move for the commodity markets. The investors should feel more safe and confident to participate in a much bigger way in commodities markets. The commodity markets in India have come a long way under the able regulation by the Forward Markets Commission. We are confident that the changes will benefit the commodity markets quite significantly.”