Muthoot Exim inaugurated its second Gold Point Centre in Hyderabad, Telangana. This latest addition brings the total number of Gold Point centres in India to 24, including two mobile units in Mumbai and Bengaluru that offer doorstep gold collection services.
Expanding Footprint and Services
The new Gold Point Centre, located in the Uppal area of Hyderabad, provides a transparent and reliable platform for customers to sell old and used gold items. These items are subsequently reprocessed, refined, and supplied for domestic consumption. The facility ensures that customers can witness the entire valuation process firsthand, receiving immediate cash payments for gold valued up to Rs 20,000, with flexible payment options such as IMPS, NEFT, or RTGS available for higher amounts.
Keyur Shah, CEO of Muthoot Exim, noted the importance of this expansion, stating, “Expanding our presence in Telangana with more Gold Point Centres is essential to our business strategy. The opening of our second branch brings us closer to our customers in Hyderabad and reinforces our efforts to provide a unique, organized and industry-leading process of transparent gold testing and assessment, ensuring fair valuation.”
Commitment to Transparent and Fair Gold Trading
The Gold Point Centres are part of Muthoot Exim’s initiative to create an organised network for gold recycling and resale. Since the launch of the first centre in Coimbatore, the company has expanded to major cities including Mumbai, Bengaluru, Chennai, Delhi, Kolkata, Madurai, Vijayawada, Ernakulam, Trichy, and Pune. This network supports a transparent and precise process for the selling and recycling of gold.
Thomas Muthoot, Executive Director of Muthoot Pappachan Group & Managing Director of Muthoot Exim, outlined the company’s nationwide growth plans, “We plan to extend our reach nationwide, establishing additional centres to serve our customers’ needs and meet the rising demand for retail gold while delivering exceptional service through our Gold Point Centres.”
Implications for the Jewellery Industry
Muthoot Exim’s expansion reflects a broader trend within the jewellery industry towards organised gold recycling. By providing a reliable platform for gold resale, Muthoot Exim is addressing a significant market need, potentially influencing industry standards. Jewellers can look to this model as a way to enhance customer trust and operational efficiency in gold trading and recycling.
