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Gujarat Chief Minister Bhupendra Patel on Monday launched the Sensex Futures & Options Contracts at the India International Exchange (India INX), located in the International Financial Services Centre (IFSC) at GIFT City in Gandhinagar.
This marks a significant milestone in India's financial journey, expanding the global reach of the country's financial markets. Launching the contracts Gujarat Chief Minister Patel said "After Gift Nifty, the future option of Sensex has also started in Gift City.... India is leading the way in the field of continuous financial innovation of INX and providing global investors with a robust platform to easily connect to the Indian market. He further said, "The launch of US dollar-based Sensex Futures & Options on Indian INX is an important step. With the operation of this centre, foreign investors will be able to invest directly in the Indian market without the complicated process of money conversion. As a result, Indian financial markets will have the opportunity to connect more closely with the global investment system". India INX, a subsidiary of the Bombay Stock Exchange (BSE), is India's first international stock exchange, designed to offer global investors a seamless platform for trading in Indian markets. The Sensex Futures & Options Contracts, now available for global investors, will be based on US dollars, making it easier for foreign investors to directly invest in the Indian market without the complexities of currency conversion. The launch of these contracts follows the introduction of the GIFT Nifty, which was also launched at GIFT City, further strengthening India's presence in the international financial space. This new financial product provides global investors with an opportunity to hedge, trade, and invest in India's most trusted and iconic index, the BSE Sensex, from the world-class GIFT City platform. This initiative is expected to boost foreign investment in India, enhance the country's financial infrastructure, and showcase India's commitment to financial innovation. As India continues to develop as a key player in the global economy, the launch of Sensex Futures & Options Contracts stands as a testament to the country's growing influence in the world of finance. (ANI)
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