The Multi Commodity Exchange of India Ltd (MCX) and Integrated Association of Micro, Small & Medium Enterprises of India (IamSMEofIndia) on 7 September 2015 signed a Memorandum of Understanding (MoU) aimed at creating awareness among Micro, Small and Medium enterprises (MSMEs) on the benefits of commodity price risk management.
This collaboration will encourage them to hedge on exchanges and face competition adroitly. It will also disseminate in-depth knowledge about the derivatives market and its benefits among MSMEs will lead to their growth and development.
The small businesses are hubs of innovation and entrepreneurship, they provide a varied range of products, but bear the brunt of international commodity price movements. However, this collaboration will enable and empower them to effectively manage their risks amidst unprecedented uncertainty.
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