IIBX CEO Ashok Kumar Gautam Resigns Amid Trading Struggles

Ashok Kumar Gautam, the first chief executive officer of India International Bullion Exchange IFSC Ltd. (IIBX), has resigned from his position citing personal reasons. Gautam has led the GIFT-City-based platform since its launch in 2022 and is currently serving a three-month notice period that will conclude in November.

The leadership change comes as the four-year-old exchange faces significant challenges in gaining traction within the domestic gold market. The bourse required nearly three years to surpass 100 tons in cumulative gold trading, representing only a small fraction of the roughly 700 tons India imports annually through alternative channels.

Regulated by the International Financial Services Centres Authority, the exchange was established by major market infrastructure institutions, including the National Stock Exchange of India Ltd., BSE Ltd., and National Securities Depository Ltd.