At the 12th annual India International Gold Convention Excellence Awards held between 21 and 23 August 2015 in Goa, India JSC VTB Bank have been awarded the status the Emerging International Bullion Supplier to India of the Year.
JSC VTB Bank started supplying gold and silver to the Indian bullion market at the end of 2013. In 2014 JSC VTB Bank shipped over 65 tons of gold and nearly 700 tons of silver bars to the banks and authorized bullion importers. This accounted for estimated 10% of all Indian bullion imports in 2014.
India International Gold Convention is the biggest and most respected annual event for the domestic and international bullion community active on the Indian market.
The award ceremony coincided with the decision by the Gems and Jewellery Export Promotion Council of India (GJEPC) to include JSC VTB Bank in the list of the approved international bullion suppliers to the Indian market and, thus, allowing VTB to use a wider choice of financial instruments when dealing with its corporate bullion customers in India.