WGC Report: An SRO for India’s gold industry

The World Gold Council-India has announced the launch of India’s Self-Regulatory Organization for gold, with its new report - An SRO for India’s gold industry.
The establishment of professionally run self-regulatory organisation (SRO), will promote industry’s best practices, building on the work of the Swarna Adarsh Abhiyan initiative – devising code of conduct for every industry vertical, providing certification for members who adopt these codes, engaging wit stakeholders across the gold value chain and advocating for best practice.
Somasundaram PR, Regional CEO, India, World Gold Council said: “The Indian gold market is one of the world's largest and most diverse. Thousands of people work in the industry that serves this market and while most participants act in accordance with industry best practices, their efforts are neither standardized nor codified. India’s gold market is now ready for the next stage for evolution, with the establishment of professionally run self-regulatory organisation (SRO). The organisation would serve as the conscience keeper of the industry. The first steps have already been taken in this process; multiple stakeholders have been consulted and further consultations are underway. We believe that the time is right for the Indian gold industry to have its own SRO – an organisation that will allow members to demonstrate their credentials, attract customers, grow their businesses and drive trust across the gold market.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished