StoneX Group Inc. plans to broaden its Indian footprint beyond precious metals into base metals and agricultural commodities, months after launching its first local trading desk in June. The U.S. financial firm has served Indian clients for over two decades from London and Dubai hubs, but now seeks deeper onshore presence.

Chief Executive Officer for Asia Pacific Greg Kallinikos said the company aims to expand opportunities across multiple sectors. As one of the world's largest bullion dealers operating in more than 180 countries, StoneX expects India to contribute increasingly to overall revenues amid growing commodity demand that tracks the nation's economic expansion.

The firm will accelerate services including foreign exchange management, capital markets advisory, and debt and equity financing. Head of Metals for Asia Pacific & Middle East Amar Singh noted StoneX will leverage its global precious metals and agriculture experience to serve local clients. The precious metals desk, led by Kumar Parmani, is hiring senior traders to support refiners, bullion dealers, and family offices with trading, hedging, and risk management services.

This expansion reflects intensified competition among global commodity brokers for Indian market share as the country's demand for sophisticated financial services grows alongside its economy. StoneX's move positions it to capture more revenue from domestic clients rather than relying solely on offshore operations.