The Forward Markets Commission (FMC) in India is the regulatory body responsible for regulating and overseeing the commodity futures market in the country. The commission is mandated to regulate and promote futures trading in commodities, ensure the integrity of the futures markets, and protect the interests of the participants in the futures markets. Therefore, commodities futures trading is regulated by the Forward Market Commission in India.
Currency futures trading and equity futures trading, on the other hand, are regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), respectively. The RBI regulates currency futures trading through its Foreign Exchange Management Act (FEMA), while SEBI regulates equity futures trading through its Securities Contracts (Regulation) Act.