Digital gold is a dynamic investment instrument: Anika Agarwal

MMTC-PAMP is India’s only globally accredited refiner and fabricator of authentic, 999.9 pure gold bars and coins. It is a joint venture between MMTC Ltd, a Government of India Undertaking, and PAMP S.A. of Switzerland, the world’s most accredited precious metals refinery boasting of nearly a half-century of global leadership. Having India’s largest refinery and mint, MMTC-PAMP is one of the world’s largest digital gold platforms and runs India’s only fully integrated ecosystem for Gold – Digital Gold, Bullions (Gold & Silver), Minted Coins (Gold & Silver), Gold Refining, Gold recycling through global proprietary technology.

They are the only LBMA-accredited gold refinery in India and their gold is accepted across global commodity exchanges and central banks. Their myriad efforts and achievements have been recognised through numerous awards and certifications by international and national industry and accreditation bodies.

In an exclusive interview with Adgully, Anika Agarwal, President, Consumer Business, MMTC-PAMP, speaks about how MMTC-PAMP has introduced digital gold as a new age investment. She also highlights how they plan to educate the customers on the benefit of investing in digital gold.

What is the objective of the government and MMTC-PAMP to set up this digital gold platform? How is this going to benefit gold buyers who buy digitally in India?

MMTC-PAMP was established in 2008 as a joint venture between India’s MMTC (a Government of India Undertaking) and Switzerland’s PAMP SA (the world’s leading bullion brand), part of the MKS PAMP Group, so we have been around for a while now. Digital gold was created to democratise gold buying in India. As India’s leader in digital gold, MMTC-PAMP provides unmatched 24K 999.9 purest digital gold to millions of Indian gold buyers. Digital gold is a new age investment instrument that allows you to invest in 24 Karat, 999.9 purest gold for as low as Re 1. This gold is then stored in MMTC-PAMP’s secure bank grade vaults under customer’s ownership, which is monitored by an independent trustee. If you wish to take possession of the same, you can redeem digital gold for 24 Karat, 999.9 purest gold coins and gold bars.

Why should someone invest in digital gold? Is digital gold better than physical gold? How do you plan to educate your potential customers to invest in digital gold?

Other than Digital gold being a smart, convenient method of buying gold that ensures that customers do not have to pay making charges and are in possession of 24K, 999.9 purity gold, the clause of minimum investment and easy liquidity makes it the perfect investment for investors across all segments. It saves the hassle of physical security and storage of gold and is independent of changing jewellery trends. Many independent working women like me prefer this as we don’t have to deal with the bulk of carrying gold jewellery that we don’t even wear anymore, and as an investment it offers me the flexibility to invest either systematically with an SIP or periodically depending on need or occasion. Digital gold is a dynamic investment instrument that is completely liquid by allowing investors to buy/ sell at any time, without levying any transaction or exit charges, even if you exit within a day of the purchase, however, we do that encourages buyers to stay invested for 3 years+, and keep investing at regular intervals to get the best results.

Digitally, today you can buy gold through banks and financial institutions. How is MMTC-PAMP different from these financial institutions and what kind of value-add you are offering for customers to buy gold from MMTC-PAMP?

When you invest in MMTC-PAMP digital gold, you invest in 24K, 999.9 purest gold, which can be redeemed for our purest gold coins and bars after paying a nominal making charge. As India’s only LBMA (London Bullion Market Association) accredited refinery for both gold and silver, the price of MMTC-PAMP digital gold is linked to global markets. As a result, regardless of local market conditions, investors obtain a fair price for their investment when they decide to buy or sell digital gold. From production of 24K, 999.9 purest gold to bank grade vaulting facility, MMTC-PAMP owns the entire ecosystem that makes digital gold investment completely secure for the customer. 0 risks and 100% safe!

MMTC-PAMP is in the B2B business. Now you will be a consumer facing brand selling your gold digitally. How do you plan to position your brand to woo more customers?

We have been selling minted gold and silver coins to retail customers since our inception. We have a robust consumer business, which makes a significant contribution to our annual revenues and are scaling this up further. We are engaging with new audience segments through our digital gold offering. We also recently launched a D2C platform to sell 999.9 pure gold and silver products across India. MMTC-PAMP combines Indian sentiments with Swiss craftsmanship and hence, Indian values are at our core. We continue to cater to cater to region specific sentiments and offer culturally relevant products like Murugan coins for the South market, Ashtalakhsmi for the East, etc. We are also catering to the gifting segment and offer customers collectibles for weddings, other important milestones like childbirth and limited edition collectibles through strategic collaborations like Disney and WWF.

What will be your engagement strategy with the potential customers? Are you planning any campaign to create awareness about MMTC-PAMP’s digital platform?

We will soon be launching a 360-degree campaign around Akshaya Tritiya, which will help us consolidate our position in existing markets, and reach out to new customers in key cities in western and southern India. We will continue to reiterate our promise of unmatched value with 999.9 purest gold and silver, combined with unmatched Swiss craftsmanship.

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