Description

Gold hallmarking has become mandatory in India

Date - 16th Jun 2021

Gold hallmarking has become mandatory in India since June 16, 2021. The process will be phased across the country, starting in 256 districts; the Union ministry of Consumer Affairs Minister Piyush Goyal tweeted:

“Continuing our government’s efforts to better protect and meet customer needs, there will be mandatory branding in 256 districts from June 16, 2021. No fines will be imposed until August 2021 ”.

Click on the image to view the official tweets

Center for the formation of a new committee

A committee of representatives from all stakeholders, revenue officials and lawyers will be formed to examine issues that may arise during the implementation of the mandatory gold hallmarking scheme. It was previously planned that the mandatory hallmarking of gold jewelry will begin on June 15.

The Department of Consumer Affairs noted that the number of analysis and branding centers (A and H) has increased by 25 percent over the past five years. The number of such centers has increased from 454 to 945 over the past five years.

Currently, there are about 940 assaying and hallmarking centers, of which 84 have been established under the government subsidy scheme in various districts. The existing centers A and H are capable of producing about 1,500 items per day. They are estimated to produce about 14 million articles per year.

According to the World Gold Council, there are about 4 million jewelers in India, of which only 35,879 are BIS certified. In India, branding is carried out for both gold and silver jewelry.

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