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2015-05-20

MCX, ITM Group sign MoU to generate skilled manpower in commodity market

To promote skill development in the commodity space, MCX and ITM Group of Institutions have signed a MoU.

To promote skill development, knowledge, research and financial literacy in the commodity space with the help of various educational initiatives, India's top commodity exchange,  Multi Commodity Exchange of India Limited (MCX) and leading private unaided group of institution in India, ITM Group of Institutions have signed a memorandum of understanding (MoU). ITM will launch various courses in Commodity Derivative Markets, wherein MCX will provide support and assistance wherever possible.

The agreement is designed in a way to facilitate potential collaboration in areas like skill development, knowledge, training, and research. It will also emphasis on importance of price risk management to Indian corporate, producers, consumers and other commodity value chain participants. The move will nurture future generations to comprehend benefits of commodity derivatives markets and available career opportunities.

As per the P. K. Singhal, joint managing director, MCX they are pleased to be associated with ITM Group of Institutions for skill development, education and training. This alliance will go a long way in creating future generations of skilled manpower in commodity markets. The initiatives under this agreement will throw open more opportunities for our young generations to understand the commodity derivatives markets and their vital role in commodity ecosystem as instruments for price risk management, and would eventually result in creation of a large pool of skilled commodity professionals and also contribute greatly to financial inclusion.

P. V. Ramana, chairman, ITM Group of Institutions told to ET that MoU stands out as a vibrant example of Industry-Academia Association, co-ordination and cooperation between academic institutes of higher learning and the industry in an area of Commodity markets, that to develop the skilled manpower to be ready to face the industry challenges and the requirement based attainability in commodity markets, derivatives, risk management hedging and other allied areas of the market. This ITM-MCX association with the vision of trains the trainers-the teaching fraternity, subsequently the students would gain the confidence and expertise to deal with the professionalism and skill set requirement of the market and industry.

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