Gift City: The International Financial Services Center (IFSC) at Gift City has entered into a strategic partnership with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC) to set up a global hydrogen trading platform. Collaboration was announced. This initiative, the first of its kind worldwide, will place Gift City at the forefront of the emerging green hydrogen economy.
Gift City Emerges as a Green Hydrogen Economy Leader
Gift City, a Notified International Financial Services Center in India, has become a significant player in the global financial landscape. With active verticals in banking, insurance, capital markets, asset management, and fintech, Gift City is already a hub for diverse financial activities. Additionally, commodities such as gold and silver are extensively traded through the India International Bullion Exchange.
Transformative Partnership: GIFT IFSC, IGX, and GSPC Unite for Global Hydrogen Trading
In a groundbreaking move, the International Financial Services Center at Gift City has entered into a strategic collaboration with the Indian Gas Exchange (IGX) and the Gujarat State Petroleum Corporation (GSPC) to establish the world’s first global hydrogen trading platform. This pioneering initiative is set to position Gift City at the forefront of the emerging green hydrogen economy.
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Global Hydrogen Price Index Unveiling Soon
A pivotal element of this collaboration is the imminent launch of the Global Hydrogen Price Index. Serving as a benchmark, this index will play a crucial role in price discovery and market information within the burgeoning green hydrogen market in India. The introduction of this mechanism is expected to enhance transparency, instill investor confidence, and catalyze the global growth of the green hydrogen market.
GIFT IFSC’s Vision: Leading Global Securities Trading and Beyond
Gift City’s ambitions extend beyond its current financial activities. The Gift City International Financial Services Center aspires to foster the trading of global securities, including commodities, and establish leadership in determining prices for globally traded commodities. Collaborating with the Indian Gas Exchange, GSPC aims to develop a mechanism for creating a hydrogen index, attracting global institutions to trade within the GIFT IFSC.
Commitment to Sustainable Energy: MoU Signing Ceremony Highlights
The Memorandum of Understanding (MoU) sealing this transformative collaboration was signed in the presence of Gujarat Chief Minister Bhupendra Patel on a significant Friday. This ceremony underscores the government’s steadfast commitment to modern sustainable energy solutions. Key figures present at the event included IGX CEO Rajesh K. Mediratta, Gift City IFSC Division Head Sandeep Shah, and GSPC MD Milind Torwane. The collective commitment signals a promising future for Gift City in the realm of global hydrogen trading.
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