Recently Central Government announced that it is fully prepared to implement mandatory hallmarking of gold artefacts and jewellery from 1st June 2021. Currently, Gold Hallmarking is voluntary in India.
About Gold Hallmarking
- It is providing purity certification to the gold jewellery and artefacts.
- Only 3 grades of jewelleries will now be hall marked under the new regulations. They are 14 carat, 18 carat and 22 carat. Earlier, 10 grades of gold jewelleries were hall marked.
- The new Gold Hallmark will contain 4 marks. They are purity in carat, Bureau of Indian Standards mark, assay centre’s name and the identification mark of the jeweller.
- This system is also available for consumers who want their old jewelleries hallmarked.
- A person found violating the provisions will have to pay a minimum fine of Rupees 1 lakh or 5 times the price of the article.
Significance of Gold Hallmarking
- The mandatory hallmarking will protect the public against lower carat. This will ensure that the consumers are not cheated.
- It will bring in transparency and will assure quality to the consumers.
- Gold Hallmarking will remove corruption in the system of manufacturing of jewellery.
- The Bureau of Indian Standards Act of 2016 made gold hallmarking mandatory in India. This act has also identified new areas in standardisations such as E-mobility, alternate fuels, medical devices, digital technologies, smart cities and new renewable energy.
- The Hallmarking scheme for gold artefacts is run by Bureau of Indian Standards since the 2000.
- Also, the Bureau of Indian Standards Hallmarking Regulations of 2018 called for hallmarking of silver jewellery and silver artefacts and also gold jewellery and gold artefacts. Uhe regulations, the penal provisions were made stringent.
Hallmarking of Gold Mandatory from June 1 Hallmarking of Gold Mandatory from June 1