Pursuant to Union Budget Announcement 2017-18,
the Department of Economic Affairs, Ministry of
Finance had set up an Expert Committee in June
2017 to study and promote the creation of an
operational and legal framework to integrate spot
market and derivatives market for commodities
trading (Expert Committee). The mandate of the
Expert Committee was to examine the legal,
technical and operational aspects of the commodity
spot and derivatives markets with a view to
eliminate the gaps and overlaps that exist between
these two markets and recommend requisite measures
for achieving the desired integration between the
commodity spot and derivatives markets in India.
The Expert Committee consisted of two sub-groups to study agricultural and non-agricultural commodities, respectively. In addition to being part of the sub-group constituted for the study of non-agricultural commodities led by SEBI, three members of the Finance Research Group Dr. Susan Thomas, Anjali Sharma and Diya Uday alongwith Dr. Sudha Narayanan, IGIDR provided policy and research support in drafting the Report of the Sub-group on Agricultural Commodities, led by NABARD.