The Gitanjali Group, opened the machine in a luxury shopping mall in the city recently and stated it had already served a "substantial number of customers". The Gitanjali Group is a modern integrated conglomerate, producing a diverse range of jewellery: gold, silver, platinum and stainless steel, studded with diamond and other gems.
It expects to roll out 75 more of the gold, silver and diamond dispensers in shopping malls, airports and even at Hindu temples.
The Gitanjali Group Chief Sanjeev Agarwal said: “The machine is a first of its kind anywhere in the world and will further revolutionise the processes by which precious metals and jewellery is bought.
"It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days."
"But it also offers choices for occasions like Valentine's Day, or to a husband who forgot an anniversary or his wife's birthday!"
Prices range from 1000 rupees ($20) to 30,000 rupees and customers can pay by cash or credit card for products ranging from gold coins etched with an image of Lakshmi, the Hindu goddess of wealth, to diamond-studded pendants in the shape of a swastika, in India a ancient religious symbol of unity.
Jammy Gagrat, a 47-year-old businessman, said: "This machine is going to be a problem for the gents. Ladies are going to keep on buying more and more every time they come here."
Buying gold in India just became easier.
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