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Commodities Market
History of India
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1875
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Bombay Cotton Trade
Association Ltd. Set up the first organized futures market.
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1893
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Bombay Cotton
Exchange Ltd. Was established following widespread discontent amongst leading
cotton mill owners and merchants over the functioning of Bombay Cotton Trade
Association.
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1900
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Futures trading in
oilseeds, groundnut, castor seed and cotton started with establishment of
Gujrati Vyapari Mandali, Futures’ trading in whear was existent as several
places in Punjab and Uttar Pradesh.
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1913
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Chamber of Commerce
set up at Hapur for trading wheat.
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1919
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Calcutta Hessian
Exchange Ltd. Established for futures trading in raw jute and jute goods.
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1920
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Futures trading in
bullion began in Bombay.
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1927
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Organized futures
trading in raw jute began with the establishment of East Indian Jute
Association Ltd.
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1945
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Amalgamation of the
two association to form the East Indian Jute and Hessian Ltd.
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1952
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Forward Contracts
(Regulation) Act enacted.
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1953
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Forwards Markets
Commission (FMC) established under the Ministry of Consumer Affairs and
Public Distribution.
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1963
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Futures trading in
commodities banned.
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2003
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Futures trading in
commodities allowed again.
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