Global Hydrogen Trading Mechanism Established at GIFT City with Formal Agreement Signed

International Financial Services Centre (IFSC), in collaboration with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC), is set to establish a Global Hydrogen Trading Mechanism at GIFT City in Gujarat. The initiative, aimed at fostering transparency and bolstering investor confidence, is anticipated to catalyze the global green hydrogen market's growth, according to an official statement released on Tuesday.

GSPC, in conjunction with the Indian Gas Exchange, will spearhead the development of a mechanism to create an index for hydrogen, with the objective of attracting participation from global institutions to trade within the GIFT IFSC. The formalization of this collaboration was marked by the signing of a Memorandum of Understanding (MoU) during the recently concluded Vibrant Gujarat summit, as highlighted in the official release.

HBL