I have read about Market Makers in US exchanges and how they provide liquidity while managing risk.
are there any such designated market makers in Indian Exchanges?
Guess the below info will suffice
Wikipedia says- "A market maker or liquidity provider is a company, or an individual, that quotes both a buy and a sell price in a financial instrument or commodity held in inventory, hoping to make a profit on the bid-offer spread, or turn."
This is what NSE says-http://www.nseindia.com/emerge/participants/content/sme_mm_rolesresp.htm
Below is list of Market Makers- http://www.nseindia.com/emerge/participants/content/sme_mm_list.htm