The National Stock Exchange (NSE) announced on April 1, 2026, that it has partnered with Indian Gas Exchange Ltd (IGX) to introduce exchange-traded derivatives based on domestic natural gas prices. According to the latest announcement, NSE will launch natural gas futures contracts linked to IGX's benchmark price index, the Gas IndeX of India (GIXI), which reflects pricing based on actual trades on the IGX platform. The exchange has received approval from the market regulator, Sebi, to launch Indian natural gas futures, with the launch date to be announced shortly. As reported by ANI, this collaboration makes NSE the first ever Indian Exchange to launch a domestic benchmarked Energy derivatives contract, marking a significant milestone in India's gas ecosystem development.
Indian Gas Exchange Ltd (IGX) operates as India's first automated national level Gas Exchange, promoting and sustaining an efficient and robust gas market. According to recent reports, the exchange features multiple buyers and sellers trading in spot and forward contracts at designated physical hubs, providing a platform for SMEs, large enterprises, and individual buyers. IGX serves nearly 2.6 crore buyers who can reach over 22 lakh suppliers from 52 different categories of industries, with access to 3.3 crore products across 97000 product categories. The exchange is now rated as one of the largest e-commerce platforms for businesses of different kinds with a market share of more than 60%, demonstrating its significant market presence and operational scale.
The upcoming futures contracts on NSE will be designed to reflect domestic gas market dynamics, with pricing for the same linked to actual trades on the IGX platform. As reported by ANI, these contracts aim to provide a transparent and reliable risk management mechanism for stakeholders across the gas value chain and provide financial institutions, exchange registered brokers and investors an investment tool to invest in the domestic natural gas market derivatives. The exchange's move aims to provide a transparent and efficient risk management tool for stakeholders across the gas value chain, including producers, consumers, and market intermediaries.
According to the official announcement, details of the launch dates, along with other contract aspects, are yet to be finalised. The exchange has not disclosed specific timelines for the product launch, leaving market participants to await further announcements regarding contract specifications and trading parameters. The product launch represents NSE's expansion into energy derivatives beyond its existing offerings, with the contracts designed to serve as an investment tool for market participants seeking exposure to India's natural gas sector.
Sriram Krishnan, Chief Business Development Officer (CBDO) of NSE, stated that the collaboration with IGX represents a significant milestone in the development of India's gas ecosystem. As reported by ANI, Krishnan believes that by introducing derivatives based on IGX benchmarks, the exchange aims to create robust risk management tools that are closely aligned with the domestic physical gas market. He further added that Indian Natural Gas futures will enhance market efficiency, deepen liquidity, and support the growth of a transparent and competitive gas market in India. This move is part of NSE's strategy to expand its commodity derivatives segment with products based on domestic benchmarks and evolving market needs, with the collaboration expected to play a key role in developing a more structured and efficient natural gas market in India.
This natural gas futures announcement follows NSE's launch of dated Brent crude oil (Platts) futures contract on March 27 for derivative market investors. According to the official data, from April 13, NSE will be offering the global oil benchmark commodity derivatives for trading in the Indian stock market, collecting data from the underlying Platts Dated Brent Assessment by S&P Global. The crude oil futures will be traded using 100 barrels as the unit metric with a maximum order size of 10,000 barrels and a minimum ticket size of ₹1.
