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 Tuesday. 

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.