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Celebrate Akshay Tritiya with Purity at MMTC’s Festival of Gold

 
     
 
New Delhi, May 2nd 2008: MMTC’s popular jewellery show “Festival of Gold’, is back in town. Organized by MMTC Limited India’s leading trading company and largest bullion leader in association with World Gold Council and Gitanjali Group, the exhibition cum sale is being held in Delhi from 2nd to 11th May, 2008 when Delhi city will celebrate the festive occasion of Akshay Tritiya. MMTC has for the benefit of its customers organized the sale at two outlets – at MMTC Community Centre, MMTC Colony, Sri Aurobindo Marg, New Delhi and MMTC Showroom at F 8-11, Flatted Factories Complex, Jhandewalan.
 
     
   
     
 

Akshay Tritiya has gained considerable significance in recent times as a festival that brings prosperity and good luck. People flock in huge numbers to buy Gold, Gold Ornaments and Silver on this auspicious occasion in the hope of eternal wealth and prosperity.
Last Year total Gold consumed during the Akshay Tritiya was around 55-60 tonnes across India which was a 30% growth over the previous period.  40-45% of Gold consumed was in South India followed by North and West which accounted for approximately 20-25% each. The balance was consumed in East India.
According to World Gold Council similar consumption patterns are expected and hopefully if the Gold prices stabilize, the quantities could be even higher than last year. With the beginning of this year’s festive season (Gudi Padva) in the last week of March, 2008 good consumer buying has started at the retail level and it is hoped that this trend will continue. On an average India consumes nearly 750-800 tonnes of Gold per year.

“There is tremendous significance of Gold and Jewellery in Indian festivals and weddings and MMTC has been showcasing the best of creations of the Indian Jewellery industry in India and abroad. MMTC’s Festival of Gold exhibition in Chandigarh during Baisakhi was very well received by consumers. The Festival of Gold has over the years provided a platform for Jewellery craftsmen around the country and has created immense awareness amongst customers to buy Hallmarked Gold and silver products guaranteed for Purity. MMTC has been one of the prime movers of the Hallmarking scheme in India.” said Mr. Sanjiv Batra, CMD, MMTC.

This “Festival of Gold” exhibition for Akshay Tritiya is a part of MMTC’s efforts to provide quality, hallmarked gold jewellery to customers and is in continuation of exhibitions held earlier at Delhi, Kolkata, Goa, Mumbai, Bangalore and Chandigarh. This is the 20th edition in the series and one more is being organized in Chennai from 7th to 11th May, 2008 since Akshay Tritiya is a very popular festival in the south.   
It has been MMTC’s endeavor to continuously try to improve its performance in order to meet the ever-changing needs and moods of the customers. In this exhibition, MMTC is presenting a stunning array of jewellery both in plain gold and studded, from various parts of the country namely – Ahmedabad, Bangalore, Delhi, Jaipur, Kolkata, Mumbai, Goa. The range of plain gold jewellery includes intricately designed chains, bracelets, rings, tops, bangles, kangans of traditional and contemporary designs, made by experienced craftsmen. The studded jewellery presents exquisite collection of pieces with diamonds, rubies, emeralds and other precious and semi precious coloured stones. Over 50,000 pieces of Jewellery will be exhibited.
Purity of gold has always been a cause of concern for the common man. MMTC’s efforts all along have been to bring assayed, tested and hallmarked jewellery to consumers. BIS has been working with MMTC on this endeavor. Jewellery on display has been tested to purity at BIS approved Assaying and Hallmarking centres. A market study on jewellery conducted in 2006 by BIS indicated an average shortage of 13.51% in purity from the declared purity, across 16 towns in India. The shortage of purity in some cases was a high as 44.66%.
MMTC’s medallions which are minted in MMTC’s own mint at New Delhi will be on sale. The medallions conform to highest standards of purity and are duly certified. MMTC has a large range of gold medallions/bars to suit everyone’s requirement, both for gifting and for investment, starting from as low as 0.5gms. upto 1 kgs. bars (0.5, 1, 2, 5, 8 , 10, 20, 50 gms medallions, 100 and 1 kg. bars). The 0.5gms and 1.0gms Gold coins have been recently introduced and are ideally suited for gifting for all occasions. The entire range of silver medallions starting from 10 gms to 1,000gms. will also be on display.
MMTC’s famous brand of sterling silverware by the name of “Sanchi” will be the start attraction of the snow. The Sanchi range over 400 items known for its purity, quality and spectacular craftsmanship. The Sanchi range has something to offer for every occasion, price range and taste. Sanchi range covers religious items, tableware (bowls, glasses, jugs, thalis, trays, tea-sets, etc.). decoratives and table accessories (candle-stands, picture frames, jewellery boxes, etc.) Sanchi silverware is guaranteed for purity. MMTC has tied up with National Institute of Design, Ahmedabad to create new designs in the fast changing market. All these products are sold through MMTC’s own retail outlets, franchisees and online website - www.mmtclimited.com
MMTC is one of the agencies nominated by the Government of India for importing gold, silver and platinum for supply to exporters and domestic customers under outright sale, loan and replenishment schemes. Presently, MMTC has a wide network of outlets across the country for reaching imported gold and silver to customers. The total number of bullion sales outlets spread across the country is 20.
MMTC is in the process of expanding its bullion operations. It is planning to enter the retail jewellery market by tying up with a leading retail chain in India. It is also in the process of setting up a world class medallion unit and refinery for bullion with a leading international company near Sohna in Haryana. The unit is expected to be operational in later part of the year 2009.
MMTC is India’s largest trading company with a turnover of over Rs. 26,000 crores. It is the largest trader of bullion and has been a pioneer in import of gold.

 
 

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