Page 43 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022

so it’ll be a more conducive and and it can still be understood, but in this context the logistics role will
vibrant environment to work in? some framework will certainly be massive.
So far, logistics has not been help the industry and the whole
a regulated space, so while ecosystem. Are you looking to expand
regulations are coming in for bullion globally?
regulators like SEBI and IFSCA What has Sequel done to Not as of now, but we work with
have stepped in, the jewellery transform the security logistics global partners in the US, Europe,
movement still is not regulated. footprint going ahead? Middle East and the Far East.
Online cash movement comes We look at it from three specific We work with very critical, large
under RBI regulations. So, while aspects: physical security, which strategic partners, and we’ve
there are general guidelines, the is to secure the shipment while in been working with them for a long
regulatory framework is still not vaulting and transit from external time, and that has worked out
there, so we are working and environments. So that is one piece very well because this is such a
pushing toward bringing some that we work on and requires a lot detailed kind of work that the native
regulations. of specific vault layout processes players understand the geography,
and physical infrastructure. The political systems, labour laws and
Would this be self-regulation or second aspect is people and all of those regulations. We have
external? processes; we need to ensure found it pretty convenient to work
I think external regulation would that the people we take are 100% with international partners and
bring more credibility to the market, verified regularly and must be kept collaborate with them.
like how SEBI’s role in regulating engaged and motivated. It needs
domestic gold spot exchanges to be ensured that the people What is your take on IGC?
brings credibility; similarly, external doing it have the right positive I’d say it’s the premium conference
regulation will bring in more trust. mindset. The third aspect is the IT that happens for this ecosystem, for
system, in terms of knowing where the bullion players, so everybody
This business is mainly about trust the shipment is and what should looks forward to it, and this time, it’s
and security, so we welcome the be there versus what’s there; the a massive turnout. I’ve never seen
right amount of regulation to protect traceability part and doing that this much turnout, and the venue
the customer’s interests. This will transparently for the customer. is fantastic. Everything has been
ensure that the logistics companies great, and catching up with many
are not cutting corners and that We, have been pioneering in old friends is lovely.
there are good infrastructures that space and have our mobile
and vehicles. All of this is in the app, Sequel247, popularly called
customer's interest because safe amongst our customers. I think it
transportation and logistics are is a huge differentiator that is not
ultimately paramount for everyone available in any other place. Sequel
in the ecosystem. customers can book a shipment,
track shipments, make payments
There is already WDRA in place, and understand the stock levels
so do you think they’re enough at their fingertips. We’ve focused
for regulations, or should there be on these three things and made
one more body within the space? tremendous progress in the past
We have had some conversations, few years.
but those are different because it’s
more food-related, but here, the Now, with IIBX, how do you see
dynamics are a bit different. the potential for logistics players
in India?
So, it requires more Yeah, it’s going to be huge, so
understanding to regulate? while all the trading happens in the
Yes, and whichever entity is finally exchange, physical delivery will
decided, I’m sure it is not wrong, have to be supplemented with that.

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