CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The World Gold Council (WGC), which represents worldwide gold miners, has appointed Sachin Jain as its new CEO for India, beginning March. Jain's considerable expertise, particularly in the jewellery industry and strategic leadership, qualifies him for this critical post.
Experience And Background
Jain joins WGC India from De Beers, where he worked in several top roles for the previous 13 years. Notably, as Managing Director of De Beers India, he oversaw the De Beers Forevermark operations in India and West Asia. His time at De Beers provided him with a thorough insight of the Indian consumer mindset and jewellery market dynamics.
Prior to joining De Beers, Jain held key positions at Lladro, Swatch Group, and Benetton. His diversified experience spans two decades, demonstrating his adaptable skill set and strategic aptitude.
Vision Of The Gold Industry
Jain's appointment demonstrates WGC's commitment to strengthening its engagement with key stakeholders and increasing the prominence of gold in investment portfolios. David Tait, Global CEO of the World Gold Council, expressed trust in Jain's marketing abilities to raise the Council's profile among the gold industry and financial institutions.
In his statement, Jain outlined his vision for India's gold business, emphasizing sustainable processes, stakeholder involvement, responsible sourcing, and gold's strategic positioning as an investment asset. He wants to use the gold sector to create positive transformation and economic prosperity in India.
Smooth Transition And Continuity
Somasundaram PR, the current CEO of WGC India, would stay in his position until Jain takes office, ensuring a smooth transfer. In addition, Somasundaram will continue to work with WGC as an advisor on critical initiatives such as the formation of a self-regulatory organization (SRO) for the Indian gold sector.
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