The Government of India will implement mandatory hallmarking of gold jewellery and artefacts from 15th June 2021.
- Earlier this deadline was 1st June, which was extended by a fortnight because of coronavirus.
- To ensure proper coordination and resolve issues while implementation, a committee headed by Bureau of Indian Standards Director-General Pramod Tewari has been established.
It is a purity certification for precious metal. Presently, gold hallmarking is voluntary. Currently, 40 per cent of the gold jewellery is being hallmarked.
Why Hallmarking is mandatory now?
GoI has launched mandatory hallmarking of gold with the aim of ensuring consumers do not get cheated while buying ornaments. Mandatory hallmarking will protect public against lower caratage and it will ensure consumers get purity as marked on jewellery. Thus, from 15th June 2021, jewellers will only be allowed to sell gold jewellery of 14, 18 and 22 carats. Registration process has been made online and automatic.
Bureau of Indian Standards is already running the hallmarking scheme for gold jewellery since April 2000. GoI had announced mandatory hallmarking of gold jewellery & artefacts in November 2019.
As per World Gold Council, India has about 4 lakh jewellers. Out of them only 35,879 have been Bureau of Indian Standards certified. There has been 25% increase in assaying and hallmarking centres in last 5 years. With the existing capacity, 14 crore articles can be hallmarked in a year.