Indian partnership to result in new gold coins

A newly announced link-up between Indian firms Rajesh Exports and the Muthoot Pappachan Group will result in the manufacture of pure gold coins.

The retail pact between the two means that gold coins weighing one, two, four, eight and 20 grams will all be produced emblazoned with a range of different symbols of religious significance.

It will be specifically the south of India that will retail the new coins, with four states in this area as well as Maharashtra being the recipients of the coinage for sale.

As well as the plans for coin production, the two companies are set to work together on rolling out newly developed software that is designed to give Muthoot's outlets live gold prices online to aid them in their daily business.

Online gold prices will therefore dictate the prices of the coins in southern India which could result in savings for consumers compared to if they were to purchase coins via a bank.