India Government Mint, Noida

With an estimated annual production capacity of 2,000 million coins, the new mint was established to cater to the increasing demand for coins in India.

In January 1986 the project was started by the Department of Economic Affairs under the Ministry of Finance with a budget of ₹30 crore (equivalent to ₹408 crore or US$47 million in 2023).

The mint was completed on time and began production on 1 July 1988.

[3][2] Before the November 2016 demonetization of INR500 and INR1000 banknotes, the mint produced nearly 40% of the total coins and had an annual target of producing coins worth ₹400 crore (US$46 million).

This production was later increased due to shortage of liquid currency.