the target book reviews

Who spoked the indigenous ventures of Jignesh Shah

All the exchanges and ecosystem ventures developed by FTIL group are India centric with all operations conducted by Indians in India with the benefits flowing to India.

For the first time in India, MCX provided an opportunity to Indian corporate houses to hedge their commodity price risks on an Indian bourse which is not only cost effective but also reduced the dependency on LME and NYMEX. MCX also provided an opportunity for SMEs to hedge, which otherwise did not have any other option for mitigating their commodity price risks.

MCX-SX proved to be a boon for the large exporters/importers to hedge their currency price fluctuation risks in a cost effective manner against the only earlier available option through a bank. The marginal exporters/importers who did not have access to banks, could easily participate on MCX-SX to hedge their currency risks.

Thus, these exchanges were a major force in making the Indian economy stronger and reducing India’s dependency on global markets. However, there are a very few who have appreciated Jignesh Shah for taking such daring steps. And, reading about the NSE Group’s attempts to bring him down time and again in Shantanu Guha Ray’sThe Target Book’ shows how low entities can stoop to retain their monopoly.

For more information check The Target Book Reviews.

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