Bullion India plans to set up new delivery centres

HYDERABAD: Bullion India, an online platform retailing gold and silver coins, plans to open 20-25 delivery centres across the country by the end of this fiscal.

"We have two delivery centres in Mumbai and Hyderabad. We plan to open 20-25 delivery centres and also set up our branches by the end of financial year 2014-2015," Bullion India Director Sachin Kothari told reporters here.

"We are in talks with some companies and are also in touch with a foreign exchange company to have their existing branches into our delivery centres," he said.

Bullion India, promoted by RiddiSiddhi Bullions Limited (RSBL), started operations in October 2012 by retailing gold and silver coins online and is in the process of expanding its business across India, especially through offline network by appointing intermediaries and expanding broker and associate network.

"We will be setting up our branches and the delivery centres will also be converted into full-fledged branches. These branches will not only acquire members but also appoint secondary field force for Bullion India through franchise and agents," Kothari said.

The company also envisages to launch additional products, including Unit Accumulation and Unit Instalment plans, besides one more product, under which customers can redeem their units in the form of jewellery, he added.