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Three months after markets regulator the Securities and Exchange Board of India (Sebi) allowed Category III alternative investment funds (AIFs) in commodity derivatives, it has granted permission to foreign portfolio investors (FPIs) to trade in non-agricultural commodities in GIFT City International Financial Services Centre. No decision has been taken yet on allowing FPIs to trade on commodity exchanges in the domestic market.
Sebi said in a circular on Tuesday that based on representations received from the exchanges operating in the International Financial Services Centre (IFSC) and after consultations with the government of India and the Reserve Bank of India (RBI), it
