India's first mineral exchange set to launch by FY28

India's inaugural mineral exchange is expected to be registered and operationalised by FY28, according to senior government officials overseeing the initiative. The Mines Ministry notified the Mineral Exchange Rules in June, laying the regulatory groundwork for the platform's establishment.

The exchange will function as a transparent, electronic delivery-based trading platform designed to facilitate market-based price discovery and reduce information gaps between mineral producers and buyers. Officials say the system will introduce standardised quality benchmarks and eliminate existing inefficiencies in the sector.

Veena Kumari Dermal, Additional Secretary in the Mines Ministry, said during the Federation of Indian Mineral Industries' 60th Annual General Meeting that registration work is currently underway. "We expect to register and operationalise the first Mineral Exchange by the next financial year," she stated, indicating active progress on the initiative.

The new exchange represents a significant step toward modernising India's mineral trading infrastructure. The platform is expected to enhance price transparency, improve market access for smaller producers, and strengthen the country's position in the global mineral trading landscape by creating a standardised, efficient marketplace for domestic mineral transactions.