According to The Times of India the Reliance Anil Ambani group is believed to have decided to enter the commodity trading business by setting up a large exchange in the country as part of its plans to capitalise on the vast opportunities in this market.
Besides R-ADAG, another corporate giant Kotak group is also mulling over setting up a commodity bourse by acquisition of some regional exchange to get the platform and other technical support, sources close to the development said.
The group is already present in the commodity brokerage business through Reliance Money. Even as the group officials did not wish to comment, sources said the new business could have some existing bourses as well as a strategic associate as partners to gain technical, business and infrastructure support.
Another emerging conglomerate Indiabulls group, which is present in businesses like brokerage, financial services, real estate, retail and power have already tied up with state-run trading firm MMTC to start a commodity exchange, for which it is awaiting necessary approvals.
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