India may become price setter globally, says Lamon Rutten
India could be a price setter and not a price taker in the next couple of years as global prices have started taking cues from Indian commodities markets, said Lamon Rutten, the joint managing director appointed by Multi Commodity Exchange.
India has the potential to be an official price setter in oilseeds, as the Indian prices have started impacting global oilseed prices, said Rutten. He said India, in future, could have a big impact on crude oil prices as the exchanges here have successful energy contracts, which is missing in the Middle East countries, despite being the producers.
Mr Rutten has been involved in the Indian commodities sector since 1995 and has played important roles at various levels including making recommendations to government to open commodity trading in the country, Jignesh Shah, managing director of the exchange, said.
More: financialexpress.com
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