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Union finance Minister Nirmala Sitharaman has launched INR-USD futures and options contracts on the two international exchanges — BSE”s India INX and NSE”s NSE-IFSC, at GIFT-IFSC in Gandhinagar, Gujarat.
Further , in a report by news agency Sitharaman expressed hope that trading of rupee-dollar derivatives contracts in India will generate huge volumes, given the world class business environment and competitive tax regime at GIFT-IFSC.
“Given the world class business environment and competitive tax regime at GIFT-IFSC, it is expected that trading of INR-USD contracts may bring volumes to India,” she said.
The finance minister opened the trading facility by ringing the bell electronically through video conference.
