India Gold Metaverse (IGM) has announced the appointment of Nirakar Chand as Managing Director of its bullion trading vertical 'BullionX'. According to reports from The Hindu BusinessLine, Chand brings nearly four decades of experience in the precious metals sector to his new role. The appointment represents a significant leadership change for the Mumbai-based company's bullion trading operations, with the announcement made on Tuesday, September 8, 2026. Chand comes with a strong understanding of bullion markets and the broader precious metals ecosystem, providing comprehensive expertise for his new role.
In his new position, Chand will drive growth initiatives, industry engagement, and nationwide market development efforts at BullionX, as reported by The Hindu BusinessLine. The Mumbai-based company stated that his extensive experience in the bullion market will be instrumental in building transformative market infrastructure. Chand previously served as CEO of Diamond India Ltd for 16 years, providing him with comprehensive understanding of bullion markets and the broader precious metals ecosystem. This appointment strengthens IGM's bullion trading vertical within its diversified platform ecosystem, positioning the company to expand its presence in the precious metals market through enhanced leadership and strategic initiatives.
According to The Hindu BusinessLine, BullionX is a technology-enabled ecosystem for modern bullion markets that delivers real-time spot and futures pricing, one-click buy/sell execution, comprehensive order management and integrated market intelligence for institutional traders, bullion dealers and large jewellers. The platform represents IGM's commitment to formalising traditional markets and unlocking immense value for consumers, jewellers, institutional investors, and banks across India in the gold value system on the central theme of 'Gold is Technology'. This technological approach positions BullionX as a modern solution for the evolving bullion market requirements.
BullionX is one of IGM's four core platforms alongside Elanzia, RamMudra and GoldSense, as reported by Moneycontrol. This strategic positioning demonstrates IGM's comprehensive approach to the precious metals market, with BullionX specifically targeting institutional and large-scale bullion trading operations. The platform's technology-enabled approach differentiates it from traditional bullion trading methods, positioning IGM to capture growing demand for modern, digitally-enabled precious metals solutions in the Indian market.
IGM CEO and Managing Director Lamon Rutten expressed confidence in the appointment, stating that Chand's vast experience in the bullion market will be an invaluable addition to the IGM executive team. As reported by The Hindu BusinessLine, Rutten emphasized that Chand has profound domain expertise, deep-rooted relationships across the bullion industry and operational mastery for providing tremendous impetus to IGM's objectives. Rutten added that "We look forward to his strategic leadership as we build a transformative, world-class market infrastructure" for the company's bullion trading vertical.
