Multi Commodity Exchange of India (MCX) has entered into the Memorandum of Understanding (MoU) with Confederation of Indian Textile Industry (CITI), with a view to combine efforts towards the growth and development of textile value chain participants in India, and continuously pursuing the cause of creating awareness about cotton price risk management.
The MOU established between MCX and CITI, the apex industry chamber representing all the sub sectors of the textile sector with over 4000 direct and indirect members, envisages co-operation on a host of objectives such as jointly organising awareness events for cotton value chain participants including farmers, price ticker board installation at Textile parks, and joint representation to Ministries & Regulators for further development of the sector, among others.
MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.
