Government of India Ganga River Basin project delivering a sustainable revolution in the waste sector
London, Delhi, 7th December 2017 GMEX Technologies (GMEX), a leading provider of exchange technology and wholly owned subsidiary of GMEX Group, is pleased to announce that it is has signed a collaboration agreement with Centre for Ganga River Basin Management and Studies (CGanga) to launch a Waste Trading Platform and Exchange venture to address the major pollution problems in the Ganga River Basin in India. The agreement was signed as part of the India Water Impact Summit that is being organised in Delhi this week by National Mission for Clean Ganga (NMCG) and CGanga.
CGanga is the new think tank formed under the aegis of NMCG and one of its stated objectives is to make India a world leader in river and water science. The Centre is headquartered at IIT Kanpur and represents all the leading science and technological institutes of the country. In addition, it is responsible for introducing new technologies, innovations and solutions into India.
GMEX was selected as one of the 25 ‘high impact’ solution providers, from around the world, who have been invited to present to all of the key stakeholders in the Ganga clean up initiative of the Government of India. GMEX is supported by partner UTrade Solutions and its affiliate Avenir Technologies Limited. The exchange solution will include technology to deliver market data, Warehouse Receipts, finance and trading, including auctions, quoting and continuous trading facilities. A key part of the solution will be the contact database that will track the potential thousands of product suppliers who will participate in the system. The solution will run in parallel on Blockchain technology inclusive of a distributed registry and contact database.
The initiative also includes a partnership with GS Bioenergy, an innovative waste handling start-up, that has developed a transformational waste collection and segregation methodology which is entirely market driven. The company will act as an enabler for waste processors like biogas generators or Refuse Derived Fuel (RDF) generators.
Solid waste being dumped in the river is a huge challenge for the Government of India. Every day 68 million tonnes of waste is generated in India and only 19% is treated. The key challenge that is being addressed with this latest initiative is to provide efficient and cost-effective collection, segregation and transportation of waste.
The new trading platform will provide a ready spot market for trading waste. Generators of waste, irrespective of quantity can bring their waste to collection centres and get paid on the spot based on quantity and quality. This will enable a downstream waste-processing industry which relies on consistent and reliable supply of waste. It will also be used to generate income for industry workers who will benefit from a transparent and efficient market. The net result will be a super energised supply chain as every individual will now be super conscious of waste as it will be seen as a resource delivering on a “waste to wealth” economy.
A number of commodity investors and traders are looking to back this Biomass Exchange platform as it will lead to process and product standardisation; effective biomass price establishment; a simple purchase process; an increase in market transparency and efficiency with clear and equal rules for all market participants; easy access to the market resulting in low barriers to entry for new market participants on the sell side; and systemic control of counterparty financial and technical capacity.
Hirander Misra, Chairman & CEO of GMEX Group, commented, “We are delighted to be in Delhi and to present the venture at the India Water Impact Summit as part of this exciting sustainability initiative for which this project will lead to the de-layering and increased affordability and sustainability in usage of biomass.” He added, “We continue to focus on delivering innovation and emerging market solutions through a unique sustainable partnership-driven model.”
Navneet Mairal, CEO of GS Bioenergy (waste handling entity) and Transtradex (trade handling entity) commented “We are excited to launch this waste trading exchange platform here in India. We believe it will have a transformational effect on the region and expect it to be rolled-out in many other locations, locally as well as around the globe. He added “This platform has the potential of solving the twin issues of waste availability to waste processors on one end and environmental damage due to improper disposal of waste on the other end, after all what is “waste” if not a “resource” awaiting a viable marketplace?”
The Realization Group
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About GMEX Group
GMEX Group is a set of companies that offer sustainable and innovative solutions for a new era of global financial markets. Providing business expertise, the latest technology, connectivity & operational excellence delivered through an aligned partnership driven approach. We use our extensive market infrastructure experience and expertise to create an appropriate strategic master plan with exchanges, clearing houses, depositories, registries and warehouse receipt platforms.
Our key business solutions enable the creation and operation of cost effective electronic exchanges and post trade infrastructure in multiple asset classes including equities, debt, FX, derivatives and commodities. We operate in both developing and developed markets through the establishment of cohesive business and technology ecosystems. GMEX offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity.
GMEX Group: ensures a cohesive strategic direction is maintained
GMEX Technologies: is a provider of multi-asset exchange trading and post trade technology through a unique partnership driven approach
GMEX Innovation: conducts R&D of technologically advanced new product solutions for exchange trading, clearing and settlement
GMEX Services: provides strategic consultancy, implementing services & support for exchanges and market infrastructure providers
GMEX Investments: enables selective seed and early stage strategic investments into market infrastructure and related FinTech companies.
About CGANGA and the India Water Impact Summit
Centre for Ganga River Basin Management and Studies (CGanga) and the National Mission for Clean Ganga, Ministry of Water Resources, River Development, and Ganga Rejuvenation (MOWR, RD & GR), Government of India have the pleasure of announcing the second iteration of the prestigious India Water Impact Summit.
India’s National River Ganga, with her numerous tributaries and distributaries, has not only been the source of the flourishing Indian civilization for ages, but is also the mainstay of modern India with more than 2/5th of the Indian population residing in her basin. The highly fertile Ganga River Basin, ranging from the mighty Himalayas and the Siwalik and the Vindhya ranges to the deltaic lowlands near the Bay of Bengal, displays a vast mosaic of geological, climatic, topographic and biological diversity that is reflected in the rich history and culture of India.
But with increasing urbanization and industrialization over the past two centuries, and especially since the 20th century, the Ganga river has been severely impacted in unforeseen ways. So much so that, not only has River Ganga’s value as a fundamental life – support system been compromised, but her health as a throbbing ecosystem itself has been jeopardized.
The situation in other major rivers and water bodies of the country is also not satisfactory. Whilst this issue creates strong environmental problem, the situation also offers tremendous opportunity to make substantial positive impact provided the Industry, Government and Academia can come together to create new economic models, effect transfer of technology and be inclusive in their infrastructure development process.
The 2017 India Water Impact Summit is being organised along with many other organisations that will provide the much necessary impetus for developing water and environment infrastructure in the Ganga River Basin and other water bodies in India.
The Summit takes place at Vigyan Bhawan (and other locations) in New Delhi, India from 4 – 7 December 2017.
About GS Bioenergy
GS Bioenergy is essentially a group of Professionals with Varying backgrounds across the globe who have sustainability as a common element running through their backgrounds and professional endeavours.GS bio Energy is involved in acting as developer in renewable energy sphere wherein it is setting up biogas generation plants based on waste/effluent processing.
This is the designated Trading arm of GS Bio Energy which is taking up the task of setting up Cow dung as a nationally traded commodity which enable employment generation at the bottom of the pyramid.