Ashok Kumar Gautam, the first MD and CEO, IIBX
Ashok Kumar Gautam, the first Managing Director and Chief Executive Officer of India International Bullion Exchange IFSC Ltd (IIBX), has resigned after leading the country’s first international bullion exchange at GIFT City for more than four years.Gautam, who cited personal reasons for stepping down, is currently serving a three-month notice period, sources aware of the development told the businessline. He joined IIBX in February 2022, ahead of the exchange’s launch by Prime Minister Narendra Modi in July of that year. During his tenure, he led the operational rollout of the exchange and helped establish the ecosystem for international bullion trading from GIFT City. Gautam did not respond to calls or messages.GIFT City’s strategyThe exchange is promoted by NSE, India INX, NSDL, CDSL and MCX and forms a key part of GIFT City’s strategy to develop into an international financial services hub. IIBX was set up to provide a transparent gateway for bullion imports into India and enable qualified Indian jewellers to directly import gold through the exchange. It also connects global bullion banks, refiners and traders with Indian buyers through an IFSCA-regulated trading and vaulting ecosystem.During Gautam’s tenure, IIBX onboarded leading bullion dealers and jewellers, introduced trading through Bullion Depository Receipts (BDRs), operationalised authorised vaulting facilities and developed a framework for responsible bullion sourcing aligned with global standards. Before joining IIBX, Gautam spent over 36 years in banking and financial markets, holding senior positions at IDBI Bank, Axis Bank and State Bank of India, with extensive experience across treasury, bullion, international banking and financial markets.Published on August 7, 2026
