There’s significant news for gold buyers and the jewellery industry. The central government of india is moving towards making gold hallmarking mandatory nationwide. At present, gold hallmarking is compulsory in only 26 states and union territories. However, preparations are underway to expand this requirement to all states, ensuring that every piece of gold sold in the country meets verified purity standards.
Gold hallmarking is a certification system that guarantees the purity of gold and provides assurance to buyers. It involves marking gold jewellery with a standard purity grade, the manufacturer’s logo, and other relevant details. The move to make hallmarking mandatory across india aims to protect consumers from counterfeit or adulterated gold and promote transparency in the market.
Officials say the government is working closely with the Bureau of indian Standards (BIS) and jewellery associations to ensure smooth implementation. This includes upgrading existing hallmarking centres, establishing new facilities, and creating awareness campaigns for both consumers and jewellers.
For consumers, nationwide mandatory hallmarking would mean:
Guaranteed Purity: Every gold item purchased will carry a verified certification of purity.
Consumer Protection: Reduced risk of buying fake or adulterated gold.
Increased Confidence: Transparent pricing and trust in the jewellery market.
For jewellers, the move will require:
Compliance with BIS Standards: Ensuring all gold products are hallmarked before sale.
Upgrading Facilities: Some jewellery units may need access to certified hallmarking centres.
Training and Awareness: Staff and management will need to adapt to the new regulations and processes.
Experts believe that making hallmarking mandatory across the country could also help curb black money in gold transactions and formalize the gold market further. The government has indicated that the policy will be implemented gradually, giving jewellers and consumers time to adjust.
In conclusion, the push towards nationwide gold hallmarking is a significant step for consumer protection and market transparency. Once fully implemented, every piece of gold purchased in india will come with guaranteed purity, making it safer and more reliable for buyers. Consumers and jewellers alike are advised to stay informed about the timeline and requirements for this new regulation.
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