Zoom News : Apr 14, 2021, 05:13 PM
New Delhi: Gold Hallmarking: The government had decided to implement hallmarking to check whether the gold you are buying is pure, pure or not. The government announced in November 2019 that hallmarking for gold jewelery and artifacts would be made mandatory on 15 January 2021. But after the jewelers' appeal it was further extended till 30 June 2021.
Jewelers got time for registrationThe jewelers were given more than a year to prepare for hallmarking and register themselves with the Bureau of Indian Standards (BIS). The deadline was changed to June 2021 on the demand of bullion traders amid the Kovid-19 epidemic. That is, from June 30, no gold jewelery or artwork will be sold without hallmarking. Although hallmarking still occurs, it is not mandatory.
'Ready to implement hallmarking from June'Consumer Affairs Secretary Leena Nandan told a virtual press conference that there is no demand to increase deadline. BIS is rapidly pursuing hallmarking approvals to jewelers. BIS Director General Pramod Kumar Tiwari said that we are ready to make hallmarking mandatory from June. We have not received any proposal to extend this date. So far 34,647 jewelers have registered with BIS.
Registration data will reach 1 lakhHe said that we hope that the registration number will reach one lakh in the next one or two months. The registration process has been made online and automated. From June 1, bullion traders will be allowed to sell only 14, 18 and 22 carat gold jewelery.
Customers will get purityAccording to the BIS, mandatory hallmarking will give customers a standard purity jewelery and reduce fraud. India is the largest importer of gold. Most of the demand comes from the jewelery industry. In terms of volume, India exports 700–800 tonnes of gold annually.
Jewelers got time for registrationThe jewelers were given more than a year to prepare for hallmarking and register themselves with the Bureau of Indian Standards (BIS). The deadline was changed to June 2021 on the demand of bullion traders amid the Kovid-19 epidemic. That is, from June 30, no gold jewelery or artwork will be sold without hallmarking. Although hallmarking still occurs, it is not mandatory.
'Ready to implement hallmarking from June'Consumer Affairs Secretary Leena Nandan told a virtual press conference that there is no demand to increase deadline. BIS is rapidly pursuing hallmarking approvals to jewelers. BIS Director General Pramod Kumar Tiwari said that we are ready to make hallmarking mandatory from June. We have not received any proposal to extend this date. So far 34,647 jewelers have registered with BIS.
Registration data will reach 1 lakhHe said that we hope that the registration number will reach one lakh in the next one or two months. The registration process has been made online and automated. From June 1, bullion traders will be allowed to sell only 14, 18 and 22 carat gold jewelery.
Customers will get purityAccording to the BIS, mandatory hallmarking will give customers a standard purity jewelery and reduce fraud. India is the largest importer of gold. Most of the demand comes from the jewelery industry. In terms of volume, India exports 700–800 tonnes of gold annually.