Gitanjali inaugurates gold-vending machine

Gitanjali Export Corp. said it has launched a gold coins and medallions vending machine to cash in on robust investment demand that is rivalling the thirst for jewellery in India, the world's biggest consumer.

"It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days," said Sanjeev Agarwal, CEO, Gitanjali Export Corporation.

The machine will give stock upto 36 different sizes, price points and designs ranging from Rs 1,000 to Rs 30,000.

India is in a high demand festival and weddings quarter, including Diwali.

Gitanjali said it plans to expand the network of these machines in places with high consumer footfalls such as malls, airports and temples to provide visitors with a range of last minute purchase choices for gifting and other needs.