What Is wrong with India's gas trading system-I: Here is what we think is going on – 16 Jun 2025

Steep trade collapse in May raises questions over IGX’s institutional stickiness

A 71% month-on-month plunge in volumes—barely explained by seasonal demand—suggests the exchange lacks core user commitment. Who walked away, and why?

Ceiling price gas is distorting the market

With over 80% of May’s volumes coming from administered ceiling-price gas, IGX’s role as a market-price discovery platform is being hollowed out.

What is the value of GIXI as a Benchmark?

The flagship index excludes ceiling-price gas but continues to present itself as a representative price gauge