Muthoot Exim Pvt. Ltd., part of the Muthoot Pappachan Group, has opened its 100th Gold Point Centre, expanding its organized gold recycling network across India.

The Gold Point network sources old and unused gold directly from consumers, which is refined and reintroduced into the domestic market as 24K gold bars. The model supports the domestic supply chain while reducing reliance on imported gold.

Since inception, the company has procured nearly 5 tonnes of gold from over 55,000 customers. Around 40% of customers are repeat users, indicating sustained engagement with organized recycling channels.

India imports approximately 99% of its gold requirements. In this context, organized recycling initiatives are being positioned as a means to improve domestic availability and reduce pressure on foreign exchange reserves and the current account deficit.

According to the World Gold Council, Indian households hold an estimated 30,000 tonnes of gold. Recycling even 1% of this stock could significantly reduce import dependence.

Thomas Muthoot of Muthoot Pappachan Group and Muthoot Exim said, “The launch of our 100th Muthoot Gold Point centre marks an important milestone in our journey to build a structured and organized gold recycling ecosystem in India. We will continue expanding the network and introducing solutions to make gold recycling more accessible.”

Keyur Shah of Muthoot Exim added, “Reaching the 100-centre milestone reflects growing awareness around organized gold recycling. In the last two financial years, we have opened nearly 60 centres and will continue to expand access while maintaining transparency in valuation.”

The company also operates mobile collection units equipped with XRF and ultrasonic technology to extend reach. Transactions include instant cash payments up to Rs 10,000, with higher values processed digitally.

Muthoot Exim plans to further scale its network over the next two years, targeting increased participation in organized gold recycling across key markets.