NCDEX, IMD ink MoU to develop India’s first parametric weather derivatives

New Delhi, July 5, 2025: The India Meteorological Department (IMD) and National Commodity and Derivatives Exchange (NCDEX) have signed an MoU to integrate weather intelligence develop India’s first parametric weather derivatives. Under this partnership, rainfall data—both historical and real-time—will be used to develop weather-based derivatives, treating weather as a commodity. IMD Director General Dr. Mrutyunjay Mohapatra emphasized that this initiative aims to help individuals and businesses better plan and safeguard their economic activities, particularly in agriculture. This sytem will help farmers to prepare and plan their farming activities accordingly.