The India Meteorological Division (IMD) and Nationwide Commodity and Derivatives Alternate (NCDEX) have signed an MoU to combine climate intelligence develop India’s first parametric climate derivatives. Underneath this partnership, rainfall knowledge—each historic and real-time—can be used to develop weather-based derivatives, treating climate as a commodity. IMD Director Normal Dr. Mrutyunjay Mohapatra emphasised that this initiative goals to assist people and companies higher plan and safeguard their financial actions, significantly in agriculture. This sytem will assist farmers to organize and plan their farming actions accordingly.
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