2021 Recap and 2022 Outlook
By Vikas Singh, Managing Director & Chief Executive Officer, MMTC-PAMP
“In 2021, the Pandemic exposed the world to an environment of volatility and uncertainty. The market sentiment only improved in the second half of the year with customers looking to invest in safe assets, which in India translates to pure gold. As India’s first and only London Bullion Market Association (LBMA) accredited refinery for both Gold and Silver we bring in unmatched credentials, thereby offering nothing short of the highest levels of purity and craftsmanship to customers. In addition, as a fully integrated, safe, and trusted ecosystem for precious metals, products like digital gold, gold and silver minted coins, and services like old gold buyback are experiencing huge consumer uptake. This consumer trust has translated to 1 digital gold transaction every second in 2021, and 1 MMTC-PAMP purest gold or silver coin being sold every minute all through this calendar year. It was also heartening to see a 50%+ jump in Digital Gold investment during this festive season, underlining the fact that the average Indian buyer is not averse to adopting newer ways of investing in gold.
“Our focus is now is to expand our footprint to enable access through a combination of our retail and d2c channels, and partnership-based presence across India. We are already servicing 8000 plus pin codes in India and ramping up our reach aggressively to service all 20,000 pin codes through our online retail channels soon. New Businesses focussed on harnessing the opportunity through silver in Industrials, Renewables, and Recovery through a new dedicated state-of-the-art facility, which will further add to our efforts in building a responsible precious metals ecosystem in India and globally, are due to be launched in 2022. Our BIS-approved Hallmarking facility is also there to strengthen our partnerships with jewellers and to ensure that consumers get the correct value for their gold investments.
We look forward to scaling up our digital prowess in the coming year, and to continue to set the benchmark in the industry when it comes to product quality and innovation.”
