TestCloud
Prep • Practice • Perform
Log In

Gujarat CM Launches Sensex F&O Contracts on India INX at GIFT City.

Banking & Finance | Dated: 05 Feb 2025

In February 2025, Bhupendra Patel, Chief Minister (CM) of Gujarat, launched Sensex Futures & Options (F&O) contracts on the India International Exchange (India INX), India's first international stock exchange and a subsidiary of Bombay Stock Exchange Limited (BSE), at Gujarat International Finance Tech-City - International Financial Services Centre (GIFT-IFSC) in Gandhinagar, Gujarat.

🎯 Key Highlights:

  • - This initiative enables international investors to trade and settle BSE derivatives in United States Dollar (USD), promoting greater participation from global traders and investors.
  • - It also allows global investors to trade India’s benchmark equity index without currency conversion risks.
  • - India INX, established in 2017 at GIFT City, is India’s first international exchange. It provides global investors with diverse investment opportunities in a regulated, tax-efficient, and technologically advanced environment.

💡 Other Important Facts:

  • (i) The contracts will be traded for 22 hours daily, aligning with global markets and enhancing access to Indian equities through GIFT City's tax-friendly regime.
  • (ii) Foreign investors, including Non-Resident Indians (NRIs), can participate in this new product offering without the need for an Indian tax identification number, i.e., Permanent Account Number (PAN).
  • (iii) Futures & Options (F&O) derivatives allow traders to speculate on asset price movements without owning the underlying asset, which may include stocks, bonds, and commodities.

📚 Test Your Knowledge:

Who recently launched the Sensex Futures & Options (F&O) contracts on India INX at GIFT City?

Correct Answer: Bhupendra Patel

🚀 Quick Recap:

About India International Exchange (India INX)

  • MD & CEO : Vijay Krishnamurthy
  • Headquarters : Gandhinagar, Gujarat