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Somasundaram PR

Managing Director - India

Somasundaram PR joined the World Gold Council in January 2013, as Managing Director, India. Som is responsible for leading the World Gold Council's activities across the Indian gold market.

Som has over 27 years' experience across diverse industries including the FMCG and banking sectors. Prior to joining the World Gold Council, Som was the Chief Executive Officer of Lakshmi Vilas Bank, a private sector bank. Before that, he was part of Standard Chartered Bank in India for over eight years in various senior roles before taking on the role of Managing Director of Standard Chartered – STCI Capital Markets, the securities arm of Standard Chartered Bank. Previously, Som had spent over 13 years with Hindustan Unilever (HUL) in a variety of roles, as well as working at Tata Consultancy Services. He is also a qualified Chartered Accountant.

The blueprint for a gold spot exchange in India

On Friday 2nd August, the Blueprint for Gold Spot Exchange in India was released at the India International Gold Convention (IIGC) in Amritsar. The report was produced by the industry steering committee, which is comprised of 27 major stakeholders of the bullion industry – both global and domestic and is chaired by the World Gold Council.

Value addition and innovation potential in gold coin market in india is untapped. Branded coins, particularly the Indian gold coin, could offer neat gifting choices for millennials and enable circulation “as is” among friends and family. Coins eventually promote jewellery buying.

India’s bar and coin market faced challenges through the year, down 4% in 2018. However, continued innovation in the investment market with mobile apps and online platforms is making gold more available to investors. More in #GDT: