GIFT City teams up with IGX and GSPC for global hydrogen trading

19 Jan 2024 CW Team

The alliance was declared to be introducing the Global Hydrogen Price Index, a benchmark crafted for price discovery and market information within the swiftly expanding green hydrogen sector in India. The proponents of this index expected its introduction to bring about increased transparency and bolster investor confidence, thereby facilitating the expansion of the green hydrogen market internationally.

Recognised as an International Financial Services Centre in India, GIFT City SEZ currently engages in various sectors, including banking, insurance, capital markets, asset management, and FinTech. Additionally, it functions as a prominent trading centre for commodities such as gold and silver through the India International Bullion Exchange.

The objective of GIFT IFSC was reported to be fostering and promoting global securities trading, encompassing commodities, and playing a crucial role in setting prices for globally traded commodities. In this new initiative, GSPC was set to collaborate with IGX to devise a mechanism for creating a hydrogen index, with the intention of attracting global institutions for trading at GIFT IFSC.

The Memorandum of Understanding (MoU) for this strategic partnership was disclosed to have been signed on Friday, in the presence of Gujarat's Chief Minister Bhupendra Patel. This signing ceremony was indicative of the government's strong commitment to sustainable energy initiatives. Notable personalities, including Rajesh K Mediratta, CEO-IGX, Sandip Shah, Head ? IFSC Department, GIFT City, and Milind Torawane, MD-GSPC, were reported to have attended the MoU signing ceremony.

In a significant step towards bolstering the green hydrogen economy, the International Financial Services Centre (IFSC) at GIFT City has formed a strategic alliance with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC). It was stated that this collaboration aimed to establish a pioneering Global Hydrogen Trading Mechanism, which would position GIFT City as a frontrunner in the global green hydrogen market. The alliance was declared to be introducing the Global Hydrogen Price Index, a benchmark crafted for price discovery and market information within the swiftly expanding green hydrogen sector in India. The proponents of this index expected its introduction to bring about increased transparency and bolster investor confidence, thereby facilitating the expansion of the green hydrogen market internationally. Recognised as an International Financial Services Centre in India, GIFT City SEZ currently engages in various sectors, including banking, insurance, capital markets, asset management, and FinTech. Additionally, it functions as a prominent trading centre for commodities such as gold and silver through the India International Bullion Exchange. The objective of GIFT IFSC was reported to be fostering and promoting global securities trading, encompassing commodities, and playing a crucial role in setting prices for globally traded commodities. In this new initiative, GSPC was set to collaborate with IGX to devise a mechanism for creating a hydrogen index, with the intention of attracting global institutions for trading at GIFT IFSC. The Memorandum of Understanding (MoU) for this strategic partnership was disclosed to have been signed on Friday, in the presence of Gujarat's Chief Minister Bhupendra Patel. This signing ceremony was indicative of the government's strong commitment to sustainable energy initiatives. Notable personalities, including Rajesh K Mediratta, CEO-IGX, Sandip Shah, Head ? IFSC Department, GIFT City, and Milind Torawane, MD-GSPC, were reported to have attended the MoU signing ceremony.

Technology

28 Oct 2025

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Infrastructure Transport

28 Oct 2025

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

Real Estate

28 Oct 2025

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..