Multi Commodity Exchange of India Limited (MCX), India’s top commodity exchange, and ITM Group of Institutions a leading private unaided group of institution in India, have signed a memorandum of understanding (MoU) to promote skill development, knowledge, research and financial literacy in the commodity space through various educational initiatives.
The agreement is designed to facilitate potential collaboration in areas such as skill development, knowledge, training, and research with emphasis on importance of price risk management to Indian corporate, producers, consumers and other commodity value chain participants. The move will nurture future generations to comprehend benefits of commodity derivatives markets and available career opportunities. ITM will launch various courses in Commodity Derivative Markets, wherein MCX will provide support and assistance wherever possible.
Mr. P. K. Singhal, Joint Managing Director, MCX said, “We are pleased to be associated with ITM Group of Institutions for skill development, education and training. This alliance will go a long way in creating future generations of skilled manpower in commodity markets. The initiatives under this agreement will throw open more opportunities for our young generations to understand the commodity derivatives markets and their vital role in commodity ecosystem as instruments for price risk management, and would eventually result in creation of a large pool of skilled commodity professionals and also contribute greatly to financial inclusion. ”
Dr. P. V. Ramana, Chairman, ITM Group of Institutions said, “The MoU stands out as a vibrant example of Industry-Academia Association, co-ordination and cooperation between academic institutes of higher learning and the industry in an area of Commodity markets, that to develop the skilled manpower to be ready to face the industry challenges and the requirement based attainability in commodity markets, derivatives, risk management hedging and other allied areas of the market. This ITM-MCX association with the vision of trains the trainers-the teaching fraternity, subsequently the students would gain the confidence and expertise to deal with the professionalism and skill set requirement of the market and industry.”