Sep 16 2010 4:23PM
MUMBAI, Sept 16 (Reuters) - India's cabinet on Thursday approved amendments in forward contracts regulation, allowing exchanges to launch options in the commodity market, the government said in a statement.
The move should increase liquidity in markets which have already attracted international equity investors.
Following is a chronology of key events, turning points and decisions announced since 2003.
April 2003: India allows futures trade in commodities.
Jan 2007: India bans futures trade in pigeon peas and black matpe, for alleged role in stoking prices in physical market.
Feb 2007: India suspends rice and wheat futures. Constitutes Abhijit Sen committee to study link between futures and spot prices.
April 2008: Sen committee submits report saying there was no conclusive evidence showing a link between futures trade and stoking of physical market prices.
May 2008: Futures in soyoil, rubber, chickpea, potato suspended on demands from the government's leftist allies.
Dec 2008: Government restores futures trade in soyoil, rubber, chickpea, potato.
May 2009: Ban on wheat futures lifted.
May 2009: India's commodities market regulator bars launch of new sugar futures contracts until the end of 2009.
Dec 2009: India maintains status quo on sugar futures. Regulator to decide on relisting in September 2010.
Sept 2010: India says it will allow futures trade in sugar from October onwards.
Sept 2010: Indian cabinet approves futures options in commodities.
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