WORLD GOLD COUNCIL INDIA CEO TO STEP DOWN

6th September 2023

The World Gold Council has announced that Somasundaram PR, Regional CEO, India, will step down from his current position next year when his successor has been appointed. Somasundaram PR joined the World Gold Council in January 2013 and during the last decade has played an instrumental part in supporting many of the India gold market’s structural reforms, from nurturing the growth of the organised retail jewellery market, to mandatory hallmarking, introduction and growth of digital gold buying channels to hallmarking becoming mandatory and setting up of the India International Bullion Exchange in GIFT city amongst others.

David Tait, Global CEO, said: “During Somasundaram’s tenure he has successfully led and supported reforms and initiatives that have led to the sustainable growth of the Indian gold market. He has been instrumental in the establishment of the Self-Regulation Organisation (SRO) for the Indian gold industry, which will very soon come to fruition and provide a step-change in consumer trust in gold. I thank him for his valuable contribution and wish him the very best in his future endeavours.”

Somasundaram PR, Regional CEO, India said: “After being successfully associated with World Gold Council and Indian gold industry for over a decade, I believe now is the right time for me to step down to focus on the next chapter of my life. These are exciting times for gold and the Indian gold industry that has undergone positive structural reforms. I am extremely proud of how the industry has progressed these past few years and how the World Gold Council has helped contribute to that. The Indian industry is well poised for sustainable growth, and I am confident it will continue to be innovative and dynamic. I will be involved in setting up of the SRO next year, which I believe will be transformational for the Indian gold industry.”

Somasundaram PR will retain his current role and responsibilities until his successor is appointed.