New Delhi, Feb. 6 -- Mutual funds and commodity exchanges are exploring whether exchange traded funds (ETFs) can be expanded beyond gold and silver. Current regulations limit ETFs to these two precious metals, but discussions are now underway between the two sides regarding other commodities, especially copper, according to three people aware of the matter. The discussions are still at a very early stage, with the two sides deciding how such a plan could work, they added.

To be sure, offering ETFs based on commodities other than gold and silver would require approval from the Securities and Exchange Board of India (Sebi). The Association of Mutual Funds of India (AMFI) had recommended this to the markets regulator some time ago. but "not...