The International Financial Services Centre (IFSC) is collaborating with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC) to establish a Global Hydrogen Trading Mechanism at GIFT City in Gujarat.

• A key aspect of this collaboration is the subsequent launch of the Global Hydrogen Price Index, a benchmark that will play a pivotal role in price discovery and market information on the burgeoning green hydrogen market in India.
• This mechanism is expected to enhance transparency, boost investor confidence and facilitate the growth of the green hydrogen market on a global scale, stated an official release here.
• GSPC jointly with Indian Gas Exchange will develop mechanism to create index for Hydrogen and attract global institutions to trade in GIFT IFSC. A Memorandum of Understanding (MoU) was signed in this regard in the just concluded Vibrant Gujarat summit, the release added.