Muthoot Exim launches India’s first ever range of non jewellery platinum products

 Muthoot Exim launches India’s first ever range of non jewellery platinum productsMuthoot Exim, the precious metals division of the 130-year old Muthoot Pappachan Group, has launched India’s first ever range of non jewellery platinum products in partnership with the World Platinum Investment Council. The endeavour is intended to further stimulate and service the growing demand for physical platinum in India.

Named ‘Anantavarsham Platinum Series’, the new range of non jewellery products will provide Indian customers access to affordable platinum products. Initially, Muthoot Exim will sell a range of precious metal statuettes of Lord Ganesh in 95 percent pure platinum metal. The statuettes can be purchased through Equal Monthly Instalments as well as one month schemes. The program also includes a spot buy-back option with assay, which will be available throughout Muthoot Pappachan Group’s countrywide network of Gold Point centers.

The Ganesh deity statuettes are fabricated by Emerald Jewel Industry India Ltd., Coimbatore, Tamil Nadu. In the initial stages, the new platinum scheme will be available in 624 branches of Muthoot Fincorp Ltd, the flagship company of Muthoot Pappachan Group and one of the largest Non-Banking Finance Companies (NBFC) in India. The product will be available at Muthoot Fincorp branches in Mumbai, Bangalore, Delhi, Ahmedabad, Chennai, Coimbatore, Madurai, Vijayawada, Kolkata and Ludhiana.

Mr. Thomas Muthoot, Executive Director, Muthoot Pappachan Group, said, “In India platinum is often perceived as accessible to only the privileged few. We, at Muthoot Pappachan Group, are proud to offer for the first-time a more affordable means to own this highly desirable metal, including in the form of Lord Ganesh statuettes. Supported by our platinum buy-back option, our innovative savings program has been designed to satisfy the current unmet and growing demand for platinum ownership in India.”

Mr. Keyur Shah, CEO, Muthoot Precious Metals Division, said, “Through these images of deities, Muthoot Exim is setting new standards for innovation, excellence, affordability and accessibility in the Indian platinum market. Expanding into platinum is a natural step for us, and we are especially proud to be working with the WPIC to expand our product offering.”

Mr. Marcus Grubb, Director of Market Development, World Platinum Investment Council, said, “India represents one of the most significant global opportunities for the development of platinum as an investment medium. We’ve already seen enormous growth in the market in recent years, especially with young consumers. Together with Muthoot Pappachan Group, we look forward to building even further momentum.”

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