Mumbai, Sept. 9 -- Multi Commodity Exchange of India Ltd (MCX) and the Internet and Mobile Association of India (IAMAI) have signed an MoU to set up a Commodity Markets Innovation Council (CMIC), bringing together fintech firms, commodity-market participants and startups to develop new solutions for India's commodity markets.

The Memorandum of Understanding (MoU) was signed at the Global Fintech Fest 2026. According to a joint press release, the council will serve as an industry-led platform focused on increasing participation, enabling digital solutions and supporting the development of the country's commodity-market ecosystem.

"India's commodity markets are at an important stage of evolution. As participation grows and the ecosystem b...