Gold hallmarking is a purity certification of the valuable metallic and is voluntary in nature at current.
The authorities on Monday prolonged its deadline for necessary hallmarking of gold jewelry to June 15 from its earlier deadline of June 1. “Hallmarking of Gold Jewellery is set to begin from 15th June 2021. In view of Covid, Government accepted the request of stakeholders to give jewellers some more time to get prepared for implementation and resolve issues. Earlier it was expected to be implemented from 1 June 2021,” Ministry of Consumer Affairs, Food & Public Distribution stated in a press launch.
Gold hallmarking is a purity certification of the valuable metallic and is voluntary in nature at current.
According to World Gold Council, India has round 4 lakh jewellers, out of which solely 35,879 have been licensed by the Bureau of Indian Standards (BIS).
In November 2019, the federal government had introduced that hallmarking of gold jewelry and artefacts could be made necessary throughout the nation from January 15, 2021. However, the deadline was prolonged for 4 months until June 1 after jewellers sought extra time in view of the pandemic.
A committee, headed by BIS Director General Pramod Tewari, has been fashioned to make sure correct coordination and resolve the implementation points. The committee would additionally comprise Nidhi Khare, extra secretary, Department of Consumer Affairs and representatives of jewellers associations, commerce and hallmarking our bodies, amongst others.
The BIS has been working a hallmarking scheme for gold jewelry since April 2000. Around 40 per cent of gold jewelry is being hallmarked presently.
The Hallmarking of jewelry is required to reinforce the credibility of gold jewellry and buyer satisfaction by means of third social gathering assurance for the marked purity of gold , client safety. This step may also assist to develop India as a number one gold market middle within the World.
