New Delhi: The Centre on Monday (May 24) additional prolonged the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15 in view of the COVID-19 pandemic. The determination on this regard was taken at a gathering chaired by Consumer Affairs Minister Piyush Goyal.
A committee has been fashioned to resolve implementation points and guarantee roll out by June 15. The authorities mentioned that clients should get hallmark licensed gold at earliest all throughout the nation with none additional delay. “India must have the world’s best standards in gold jewellery,” mentioned the federal government in a press release.Â
In November 2019, the federal government had introduced that hallmarking of gold jewellery and artefacts could be made mandatory throughout the nation from January 15, 2021. However, the deadline was prolonged for 4 months till June 1 after jewellers sought extra time in view of the pandemic.
Gold hallmarking is a purity certification of the dear steel and is voluntary in nature at current. “In view of COVID, the government accepted the request of stakeholders to give jewellers some more time to get prepared for implementation and resolve issues,” an official assertion mentioned. Hallmarking of gold jewellery is ready to start from June 15. Earlier, it was anticipated to be applied from June 1, 2021, it added.
A committee, headed by Bureau of Indian Standards (BIS) Director General Pramod Tewari, has been fashioned to make sure correct coordination and resolve the implementation points.Â
The committee would additionally comprise Nidhi Khare, further secretary, Department of Consumer Affairs and representatives of jewellers associations, commerce and hallmarking our bodies, amongst others.
Speaking on the event, the minister mentioned “India must have the world’s best standards in gold jewellery.”
The hallmarking of jewellery/artefacts is required to reinforce the credibility of gold jewellery and buyer satisfaction via third get together assurance for the marked purity/fineness of gold , shopper safety, he mentioned. “This step will also help to develop India as a leading gold market center in the world,” he added.
From June 15, jewellers might be allowed to promote solely 14, 18 and 22 carats of gold jewellery.
The BIS has been operating a hallmarking scheme for gold jewellery since April 2000. Around 40 per cent of gold jewellery is being hallmarked at present.
The authorities mentioned there was 25 per cent enhance in assaying and hallmarking facilities to 945 from 454 within the final 5 years.Â
Presently, 940 assaying and hallmarking centres are operative. Out of this 84 centres have been arrange underneath the federal government subsidy scheme in varied districts.
About 14 crore articles may be hallmarked in a yr with the present capability of these centres, it added.
India has round 4 lakh jewellers, out of which solely 35,879 have been BIS licensed, as per the World Gold Council.
According to BIS, the mandatory hallmarking will shield the general public in opposition to decrease caratage and guarantee customers don’t get cheated whereas shopping for gold ornaments and get the purity as marked on the ornaments. India imports 700-800 tonnes of gold yearly.
