Via FE:

_With a rising number of market participants closely tracking India Vix, the volatility index that indicates markets’ expectation of volatility in the near term , the National Stock Exchange (NSE) would like to start trading in the index. An NSE official said the exchange would soon approach the Securities & Exchange Board of India (Sebi), the market regulator, for its approval.

_Introduction of Vix Futures and Vix Options would start an interesting phase in Indian markets.