Govt plans to make hallmarking gold bullion mandatory

Pramod Kumar Tiwari, director-general, Bureau of Indian Standards (BIS), said at a media briefing on Monday that there is a need for mandatory hallmarking of gold bullion. An advisory group has been formed last month.

Gold importers, Assaying and Hallmarking Centre (AHC) Association and jeweller associations are part of this advisory group and the consultation process has been started.

The number of articles hallmarked has increased manifold since the implementation of mandatory hallmarking. More than 18 crore pieces of gold articles have been hallmarked since the implementation of mandatory hallmarking from July 2021, according to BIS. Gold bullion is used as raw material for manufacturing of jewellery and its purity is paramount, considering the large volume of jewellery hallmarked. Hallmarked gold bullion will help in ensuring the desired purity of gold jewellery being manufactured according to BIS.

To safeguard and protect the consumers and enhance their confidence in the purchase of hallmarked gold jewellery with traceability and assurance of quality.

Earlier on Friday, the Consumer Affairs Ministry announced that it has been decided that after March 31, 2023, sell, or offer to sell gold jewellery or gold artefacts unless it is hallmarked with of 6-digit HUID number will not be allowed.

Clarifying for the hallmarked jewellery lying with consumers as per old schemes, BIS D-G said those shall remain valid. Consumers can sell or exchange their old jewellers as per there convenience.

BIS had also transferred 439 standard-related food products to FSSAI as decided by Group of Ministers on January 7. 

This story has been published from a wire agency feed without modifications to the text.