Aiming to tap the expanding semi-urban and rural market, IPL, in collaboration with state-owned trading firm MMTC launched its jewellery showroom, "IPL Swarnalaya" in New Delhi. The showroom would deal in jewellery, medallions and MMTC''s silver jewellery brand, "Sanchi".
Medium and small investors, especially in small cities and villages, are confused about safe and assured investment options. Since investment in gold and silver have always been considered safe and offers assured returns, the plans are to expand its reach into these areas.
The purchasing power of farmers has increased considerably in the last three to four years on the back of good harvest that has led to an increase in demand for high value items like gold and silver. IPL plans to utilise its large fertiliser dealer base to help MMTC expand into the smaller cities and villages to sell the latter's quality gold and silver items.