Muthoot Exim (P) Ltd, the precious metal arm of business conglomerate Muthoot Pappachan Group, has opened its Muthoot Gold Point Centre at G S Rao Complex in Rajahmundry. With the launch of the third centre in Andhra Pradesh, the company now has 18 Gold Point centres in India including two ‘Mobile Muthoot Gold Point’ which collects gold from the doorstep of the customers.
The first Gold Point centre was launched in Coimbatore in 2015. The company then expanded presence by entering new cities including Mumbai, Bengaluru, Chennai, Delhi, Kolkata, Madurai, Vijayawada, Ernakulam (Kochi), Noida, Pune, Hyderabad, Indore, Visakhapatnam, Gurgaon, and Mysuru.
On the launch, Keyur Shah, CEO, Muthoot Exim, said: “Rajahmundry is one of the key markets in the precious metals trade. This move is part of our continued commitment to providing our customers with industry-first process of transparent and scientific testing and assessment of gold.”
Shah further informed that Muthoot Exim is the first national-level organised sector venture to get into recycling of gold which is in line with the vision laid down by the Government of India for the Indian Gold Industry to reduce India’s overdependence on imports. It is also the first organisation in India to launch doorstep service with the introduction of mobile vans in Mumbai and Bengaluru, he added.
Thomas Muthoot, Executive Director, Muthoot Pappachan Group said that the company intends to transform the retail recycled gold segment by supporting customers with transparency, scientific assessment and best practices that would provide them with fair value for the gold.
