The article examines the efficiency and price discovery in the Indian commodity market using eight different types of commodities. They found that while futures prices are linked to spot prices, they are not efficient at predicting future spot prices. The market is shown to have short-term biases, with past prices influencing current prices. This suggests that commodity futures are important indicators of price movements. Traders can use futures prices to make profits by adjusting spot market prices. Policymakers can benefit from understanding how these markets are connected to establish financial stability.