MMTC-PAMP debuts in Fortune 500 India list at number 68
Fully integrated gold and silver ecosystem MMTC-PAMP has entered the Fortune 500 India list for the first time at number 68 as the highest new entrant in the list, after reporting its revenue for the 2021 financial year.
MMTC-PAMP’s debut in the Fortune 500 India list at number 68 follows on from its annual reported revenue of Rs 21,204 crore ($3.2 billion) for the 2021 financial year, the Gem and Jewellery Export Promotion Council reported on its website.
“As India's largest refinery for both gold and silver, we are humbled to be ranked highest among all debutants in the latest Fortune 500 India List,” said MMTC-PAMP’s CEO and managing director Vikas Singh, the GJEPC reported.
“We have the capacity to fulfil about 30% of India’s requirement for gold, and in the last two years have set up a robust business-to-customer business where we sell 24- karat, 999.9 purest gold coins and bars, premium silver products, and digital gold, an innovative new age investment instrument, direct to consumers,” said Singh.
“With the gold jewellery buyback, and old gold refining business we have set up a strong mechanism which can recycle the large deposit of old gold which lies idle in Indian households.”
MMTC-PAMP launched in 2008 as a joint venture by the Government of India undertaking MMTC Ltd and Switzerland-based bullion business MKS PAMP. Over the past 10 years, MMTC-PAMP has managed to create India’s largest precious metals integrated ecosystem.
“Our debut in the Fortune 500 rankings in tough market conditions stands testament to our efforts towards ensuring the highest standards in quality, purity, corporate ethics and other aspects of our operations,” said Singh.
“It also underlines the faith our customers have on our products and their recognition of the brand’s relentless focus on customer centricity. The enterprise value for FY21 is the strongest indicator of millions of customers’ trust in MMTC-PAMP.”
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