MMTC, a Government of India undertaking, plans to launch its very own brand of gold jewellery for the domestic market, reports suggest. The company stands as the largest importer of gold in India and also the largest trading firm of the country. It also delves in the manufacture of coins, medallions, artifacts of gold and silver and its own brand of silverware called Sanchi. Its sales network spans through self-owned and stockists stores in India.

It expects to churn a turnover of Rs 67,500 crore in 2010-11, of which it aims to see the share of precious metals at about Rs 50,000 crore. In the previous fiscal, the share of precious metals stood at Rs 45,124 crore, reports add.

Increasing the number of retail stores is also being considered, reports say.

The company is also intending to launch its first batch of five, 10, 20 and 100 gm silver medallions manufactured by its joint venture with M/s Pamp SA, Switzerland (world leaders in the field of production of medallions), on Akshay Tritiya on April 29. The JV also is expected to begin refining of gold/silver by this year. The MMTC-PAMP India Pvt Ltd, joint venture was set up with an investment of Rs 200 crore has an annual refining capacity of 100 tonnes of gold and 600 tonnes of silver.