Page 11 - Bullion World Volume 4 Issue 3 March 2024

Bullion World | Volume 4 | Issue 3 | March 2024

The following members, who spanned across the Indian gold value chain, participated in the discussion:
1. Ankur Goyal, President (Works), MMTC PAMP
2. Sharad Jobanputra, Chairman, Sequel Logistics
3. Atanu Sanyal, Managing Director, Brinks India
4. James Jose, Managing Director, CGR Metalloys
5. Nirupama Soundararajan, Co-Founder & Partner, Policy Consensus Centre

Moderating the proceedings was Prof. Sundaravalli, Chairperson at IGPC. The session brought forth interesting
perspectives about how Indian consumers perceive issues of integrity, best practices and hazards associated with
gold refining, the mechanisms to ensure chain of custody, and overall trust deficit.

Panel III: "Development of Exchange Trading for Gold in India – opportunities and challenges for Indian
and global banks and traders."
On February 9, 2024, the RBI permitted domestic banks to trade on the newly established India International Bullion
Exchange (IIBX) at GIFT City. The discussions of this panel revolved around the changes that this event is expected
to herald in the Indian ecosystem.

The members of the panel were:
1. Haresh Acharya, Managing Director, Parker Group
2. Kamlesh Sharma, Chief General Manager & Head, Department of Metals & Commodities, IFSCA
3. Neville Patel, SVP & Head Bullion Treasury, HDFC Bank
4. Manish Goel, Head Bullion, ICICI Bank
5. Ashok Kumar Gautam, Managing Director & CEO, IIBX
6. Harish Chopra, Vice President & Head, IGPC @ IIM Ahmedabad

Moderating this panel was Sunil Kashyap, Director Finmet. The panellists concluded how the IIBX has improved
settlement and the positive impact of institutional participation. Additionally, the panel discussed the possibility of new
products, the participation of foreign banks, and their readiness.

Panel IV: "Integrity in Gold and Jewellery Supply Chain"
Given the extensive consumption of jewelry in India and, therefore, the criticality of concerns surrounding a supply
chain that ensures integrity, this panel, which consisted of the following members, saw extensive involvement from

The members of the panel were:
1. Kinjal Shah, Head of Asian Development at the Responsible Jewellery Council
2. Prem Nath, Director Finmet
3. Siddharth Kaushik, Chief Risk & Compliance Officer at MMTC PAMP
4. Arindam Goswami, Co-Founder & Partner at Policy Consensus Centre

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