New Delhi: To ensure the quality of gold, the Centre has decided to make hallmarking mandatory, Union consumer affairs minister Ram Vilas Pawan said on Friday. The notification will be issued on January 15, 2020. The practice will be effective from January 15, 2021.
Hallmarking, as defined by the Bureau of Indian Standards, is the accurate determination and official recording of the proportionate content of precious metal in precious metal articles. a guarantee of purity, this protects the public against adulteration.
Hallmarking was not mandatory so far. According to reports, only 10 per cent of about 300,000 jewellers in the country are registered with the BIS. Since India is a signatory to WTO, the country is required to notify the trade body before making it mandatory.
The government plans to mandate sales of only 14, 18 and 22-carat purity under the hallmarking act. There are around 800 hallmark centres in the country.
So, what will happen to the stock without a hallmark? According to reports, one year period will be provided for the implementation. The scheme will be implemented in phases, starting from metro cities.