Muthoot Exim yesterday launched the Anantavarsham Platinum Series, a range of non-jewellery platinum products in association with the World Platinum Investment Council (WPIC). The Company said that this is the first ever range of non-jewellery platinum products to be launched in India.

Muthoot Exim is the precious metals division of the 130-year–old corporate conglomerate Muthoot Pappachan Group. It said that the lauchis part of a new partnership with the World Platinum Investment Council intended to further stimulate and service the growing demand for physical platinum in India.

In the first phase of Anantavarsham, the Company will offer a range of precious metal statuettes of Lord Ganesh in 95% pure platinum metal, which does not tarnish and will not need the polishing and cleaning associated with traditional metal images of deities.

The Ganesh deity statuettes are fabricated by Emerald Jewel Industry India Ltd., Coimbatore, Tamil Nadu.

In the initial stages, the scheme will be available in 624 branches of Muthoot Fincorp Ltd across Mumbai, Bangalore, Delhi, Ahmedabad, Chennai, Coimbatore, Madurai, Vijayawada, Kolkata and Ludhiana. Purchase options include through Equal Monthly Instalments or one-month schemes. The programme also includes a spot buy-back option with assay, which will be available throughout Muthoot Pappachan Group’s countrywide network of Gold Point centers.

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.”

 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.”  

 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.”

Pic caption: Marcus Grubb (WPIC), Keyur Shah (Muthoot) and K Sreenivasan (Emerald) seen at the launch