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.

Real Estate

07 Aug 2026

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

Infrastructure Urban

07 Aug 2026

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Infrastructure Transport

07 Aug 2026

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..