The World Gold Council has announced that Somasundaram PR will step down from his role as regional CEO for India in 2024 and will remain in his role until his successor is appointed.
“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,” said the World Gold Council’s global CEO David Tait, the Gem and Jewellery Export Promotion Council reported on its website. “He has been instrumental in the establishment of the Self-Regulation Organisation 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 first joined the World Gold Council in January, 2013 and has been key in bringing about a number of structural reforms in the Indian gold market, according to the WGC. These include the introduction of mandatory hallmarking on gold jewellery and working towards the organisation of the gold jewellery retail sector.
“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,” said Somasundaram. “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.”
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