ROADMAP: COMMODITY FUTURES MARKETS DEVELOPMENT IN INDIA 2005 AND FORWARD
December 2004
HEMKESH
COMMODITY FUTURES MARKETS DEVELOPMENT PROJECT
Acknowledgements The authors of this report are grateful for the assistance and insight provided by the many leaders in the Government of India and private sector involved in, and deeply committed to, the development of commodity futures markets and assisting the agricultural sector. Special thanks are given to senior officials of the Department of Consumer Affairs, Forward Markets Commission, Department of Economic Affairs, and the three national multi-commodity futures exchanges who provided invaluable support and advice. Many regional exchanges were likewise helpful. So too were innumerable individuals at agricultural oriented institutions that are mentioned throughout the report. And, further thanks to those experts who provided insights to FMI at training sessions in Mumbai and New Delhi, and at a Roundtable Discussion in New Delhi. The authors would also like to express appreciation to USAID/India, and especially Lawrence Paulson, Ashok Jha, and Aleen Mukherjee for their support. FMI thanks its implementation partners, Public Affairs Management, directed by Ms. Poonam Barua, and the U.S. National Futures Association (NFA).
Financial Markets International, Inc. (FMI) is a U.S. based international consulting firm that specializes in assisting countries to develop sound and efficient markets. FMI has worked in over 25 countries with the U.S. Agency for International Development (USAID), World Bank, Asian Development Bank, and private corporations since 1992. www.fmi-inc.net Charles M. Seeger, FMI Chairman, specializes in commodity markets laws, regulations, and exchange operational procedures, and is a former Senior Vice President and Counsel of the Chicago Mercantile Exchange. Mr. Seeger has assisted in developing commodity futures markets for Brazil, Hungary, Korea, Russia, Singapore, the United States, and...