The proposed bourse would be subject to necessary approvals and operating guidelines for International Financial Services Centre (IFSC), NCDEX said in a statement.
The exchange said it has inked a memorandum of understanding in this regard with GIFT SEZ Ltd, a subsidiary of Gujarat International Finance Tec-City Company Ltd (GIFTCL) known as GIFT City.
"This MoU would help in attracting various international financial and commodity trading players and encourage global exchanges to set up base at GIFT IFSC," GIFT City Group's Chief Ramakant Jha said.
The Gift City, inaugurated on April 10, is five minutes drive from Gandhinagar. It is intended to be a global financial hub. It will have an international financial services centre which is a financial sector SEZ.
The Gift City, a joint venture company, has been promoted on a 50:50 basis by the Gujarat Urban Development Company Ltd and the Infrastructure Leasing and Financial Services Limited (IL&FS).