63 moons technologies ltd have been consistently contributing significantly to the financial ecosystem and organized markets. One of the foremost contributions of the group was to channelize the unorganized markets and bring about transparency & cost-effectiveness in markets thus enabling substantial revenue generation for the exchequer which otherwise was getting lost in the unorganized markets.
63 moons have made significant contributions to the tax revenue without seeking any subsidies or tax reliefs like in the IT sector. The operations of the exchanges and ecosystem institutions generated a number of taxes, such as sales tax, income tax, VAT, STT, and CTT. The promoted ventures of the group and the trading enabled on their platforms has resulted in substantial revenue generation for the Government of about Rs. 4000 Cr.
GENERATED IMMENSE REVENUE
It set up GraminSuvidha Kendra to expand the reach and access of MCX, benefits the farmers and other producers in the rural areas. In collaboration with India Post, it operated in over 17 locations in 5 States connecting 1886 villages through 238 branch post offices.
The Group developed globally benchmarked hedging products that enabled corporates and SMEs to protect themselves from price risk and volatility. Created efficient trading platforms for price discovery and processes for risk management, settlement and payment systems.
FACILITATED RISK MANAGEMENT
It followed the approach of 360-degree financial market development covering equities, bonds, currencies, and commodities with the extensive ecosystem to provide support of information, payment and settlement solutions, knowledge management, financial literacy, and education.
The group has pioneered growth in several market segments in India
including commodities, currencies, and energy, etc., all of which have greatly added value to India’s economy and finance.
DEVELOPED MARKET SEGMENTS
It improved efficiencies in practices and processes on a proactive basis that have greatly benefitted the financial markets industry and investors.
63 moons took India to new heights by opening a gateway for Indian businesses to explore opportunities in Asia, Africa, and the Middle East by opening exchanges in major centers like Dubai, Singapore, Mauritius, Bahrain, and Singapore.
Read more - Jignesh Shah : A Man of Grit and Determination
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