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“Commodities futures market will drive India’s economy”

Staff Reporter
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Seminar on Agribusiness and Commodities held by The Hindu Business Line

President of Indian Chamber of Commerce, Guntur, Athukuri Anjaneyulu speaking at seminar in Guntur on Friday. Associate Editor of The Hindu Business Line G. Chandrashekhar and Deputy Manager of NCDEX Deepak Sayana are seen.— Photo: T. Vijaya Kumar
President of Indian Chamber of Commerce, Guntur, Athukuri Anjaneyulu speaking at seminar in Guntur on Friday. Associate Editor of The Hindu Business Line G. Chandrashekhar and Deputy Manager of NCDEX Deepak Sayana are seen.— Photo: T. Vijaya Kumar

Commodity Futures Markets will continue to drive the country’s economy for the next two decades, Associate Editor of The Hindu Business Line G. Chandrashekhar said here on Friday.

He was speaking at an Investor Awareness and Education Seminar on ‘Agribusiness and Commodities,’ organized by The Hindu Business Line in association with Forward Markets Commission and NCDEX held on the premises of Sri Kanyaka Parameswari Devasthanam on Friday here.

Indian Chamber of Commerce, Guntur, president, Athukuri Anjaneyeuu was the chief guest and inaugurated the seminar in which traders and industrialists took part. Mr. Anjaneyulu wanted the Centre to put in place a regulatory mechanism to prevent exploitation of the markets.

Stating that food, textiles, housing and infrastructure and energy sectors are going to be major growth sectors, Mr. Chandrasekhar pointed out that all the sectors are directly linked to commodities market. Rising incomes, skewed patterns of consumption and trading in food, fibres, metals and energy would expand in the future and India would be a major producer, processor, consumer, exporter and importer of a wide range of commodities, he said.

The current scenario indicates the growing trend of domestic market integrating with the global markets.

Mr. Chandrashekhar, however, warned that investors in forward trading would have to tread cautiously and have to bear in mind all the risks including the price risk management. “Hedging is the safest and most scientific way to manage price risk,” Mr. Chandrashekhar said adding that the trading decisions should be based on sound research and commercial management. Deputy Manager of NCDEX, Deepak Sayana said that the commodity futures market has besen growing at a healthy rate of 29 per cent. The NCDEX provides regulatory structures and gives a sound information on forward markets, he added.


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