Pranav Garg: A Business Expert With Extensive Experience Spanning From StartUps To Multinationals | CEOInsights Vendor
Pranav Garg: A Business Expert With Extensive Experience Spanning From StartUps To Multinationals

Pranav Garg: A Business Expert With Extensive Experience Spanning From StartUps To Multinationals

  Pranav Garg,     CEO

Pranav Garg


More than just an investment, gold has always been a part of Indian culture. As a result, it has become a treasured part of Indian culture and may be found in both private homes and public institutions equally. In India, gold manufacturers and sellers have seen customers of all ages and genders investing in gold for objectives such as giving, weddings, religious significance, and so on. Given India's great fondness for metals, gold investments or purchases have continued to rise since the market was unleashed.

And, as we've all learned, no sector has been untouched by technological advancements, thus the emergence of digital gold has followed suit. There has been a significant increase in the sales of digital gold in India, and also a significant increase in the number of active users. The appeal of digital gold, especially among young people and investors, has increased significantly. As a result of these considerations, Kundan Refinery Private Limited has created its very own new-age digital gold and silver portal, My Gold Kart, which is being managed by Pranav Garg.

Pranav now serves as the CEO of My Gold Kart. In addition, Pranav is a business development and management specialist with extensive experience functioning closely with market leaders and managing large cross-functional teams of 100 or more individuals.

Below is an excerpt of Pranav's exclusive interaction with CEO Insights magazine.

What inspired you to venture into the Digital Gold and Silver industry?
For the next ten years, I think Digital Gold and Silver will be the industry to keep an eye on. The expanding digital infrastructure in India, along with a rising digital preference throughout all age groups and across all sectors, will act as a catalyst. In addition, we are witnessing a growing number of individuals considering investing in digital assets, as well as in general,
for the first time.

When we think of investments, we immediately think of gold, and this is especially true when considering India.

Could you talk about the learnings and experiences that you had acquired from IIM Indore and how you apply them in your current role?
During my time at IIM Indore, I prioritized national contests and internships in addition to my academics. The hands-on experience I gained there allowed me to better blend management theory with practice.

My Gold Kart's unique selling proposition is that we provide digital gold & silver at the most competitive prices

Furthermore, the sector is looking for experts rather than generalists at the lower levels of management. Keeping this in mind, I made it a goal of mine to become an expert in just a few areas of interest, rather than a comprehensive one who can do it all. This served me well when I embarked on my post-graduate career.

Define My Gold Kart as an organization and where is it positioned in the industry?
My Gold Kart,(MGK) is a modernday digital PAN India platform that provides investors, especially smalltime investors, an option to invest in 24K 99.99 percent pure Gold and Silver online at any time and from any location beginning at Rs. 1.

B2C solutions provided by My Gold Kart include buy, sell, MGK plans, gift, redeem, and physical delivery. We also offer B2B services, such as corporate gifts. MGK now has a network of more than 500+ partner shops or jewelry stores in India where customers may redeem their points. Within which our digital platform customers may choose from a vast array of styles and denominations, including but not limited to colorful & non-colored Gold & Silver Coins, Bars & Pendants, operable at 3500+ Pin codes in India.

What is the unique proposition that My Gold Kart offers to its clients?
We have an unrivalled network of 500+ redemption partners, including both online and physical ones. In my opinion, My Gold Kart's unique selling proposition is that we provide digital gold and silver at the
most competitive prices. Additionally, we have the lowest spread, which is the difference between the purchase price and the selling price. Furthermore, to gain investors' confidence, My Gold Kart promptly validates each buy or sale transaction through the reputable IDBI Trusteeship Services Limited (ITSL). We keep the Gold and Silver of our investors in the vault of BRINKS, a worldwide renowned storage provider. And for delivery, MGK has teamed with India's premier delivery services provider, BVC Logistics.

It doesn't matter whether our customers use an Android or an iPhone we have a presence in every version. My Gold Kart Platform has been VAPT Certified by XiArch Solutions, which delivers the finest user-friendly and safe transaction experience. Lastly, our Kundan products are of the utmost quality and are NABL and BIS certified, ensuring their integrity and purity.

As the CEO of My Gold Kart which are the milestones that bestowed you with utmost satisfaction?
My Gold Kart has more than a million active clients in its first year of operation, which is a major accomplishment for me. In the next five years, the number of consumers is predicted to exceed 2.5 million. And as CEO, I oversee that the platform has an uptime of 99.99 percent and processes hundreds of transactions every month.

Within the next three years, where do you see MyGoldKart?
Using digital marketing channels including but not limited to performance marketing, social media, TVC, ATL & BTL, we plan to expand at a pace of 300 percent YoY over the next three years in terms of revenue objectives and customer acquisitions. Also, in the pipeline for formalization in the next six months are agreements with top jewellery chains for redemption and industry leading marketplaces and resellers.

Pranav Garg, CEO, My Gold Kart
After earning a Bachelor's degree in Electronics from the University of Pune, Pranav went on to get his Master's degree in Marketing & Business Strategy from IIM Indore. He also has specializations in Economics and Human Resource Management. Currently, Pranav is serving as the CEO of My Gold Kart, although he has also held senior positions at Jungle works, Yogasa Systems, and Infinite Computer Solutions, as well as worked for global corporations like Collabera and Mphasis.

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