New Delhi, Sept. 17 -- India is making a strategic push to become a global "price setter" in the global metals market, moving away from its long-standing reliance on foreign benchmarks like the London Metal Exchange.

Speaking at the launch of a new report by the Multi Commodity Exchange of India (MCX), Securities and Exchange Board of India (Sebi) chairperson Tuhin Kanta Pandey outlined steps to deepen India's commodity derivatives market and establish benchmarks that reflect India's economic might. The effort, he said, is designed to align with national priorities such as the "Make in India" and "Critical Minerals Mission" initiatives.

"For decades, our physical metal markets were largely dependent on foreign price benchmarks to transa...