Page 12 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 2 | Issue 07 | July 2022

MMTC-PAMP: Focus on Retail

expansion/digital gold and

product innovation

Can you detail the MMTC- PAMPs emerged as the fourth largest gold
new B2C business model? Does recycling market. About 75 tonnes
the new store expansion follow of gold was recycled in FY 2021 in
the existing retail format (which India. MMTC-PAMP’s presence in
has a purity verification facility the eastern market marks the entry
and bullion bar / minted products of an organised player in the gold
sale counter)? mining and recycling business. Most
MMTC-PAMP plans to expand its of the gold is recycled through local
presence across India by offering scrap collectors, and there is a need
people in the trade opportunity to for organised players in the region.
become an MMTC-PAMP franchise. As we have taken the lead, we plan
As a part of our retail expansion to expand further into the market
plan, we intend to open close to and offer all our services. While we
50 franchise outlets and 15 wholly- aim at a revenue of Rs 1,000 crore
owned Purity Verification Centres in from the eastern region in the next
the current fiscal. five years, we also aim to cater to
the existing demand for gold refining,
Mr Vipin Raina
How significant is Eastern India as 11% of gold supply came from
President-Marketing
markets being one of the major old gold, driven by price movements
MMTC-PAMP India Pvt Ltd.
gold recycling hubs for MMTC and expectations. With this strategic
PAMP move, we plan to strengthen our
The eastern market is significant presence in the eastern market and
to MMTC-PAMP as it is a major offer our 999.9 purest gold and silver
gold recycling hub. As per a recent products to our consumers.
World Gold Council report, India has

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