The Union cabinet approved a proposal to make hallmarking of yellow metal compulsory. The move aims to protect consumers from unscrupulous jewellers. DNA finds out how this new rule will benefit buyers and sellers.
Customers need to look for the triangular hallmark of BIS
Hallmarking is widely accepted by all the educated customers in cities like Mumbai and Pune. Customers need to look for the triangular hallmark of BIS (Bureau of Indian Standards). That is a sign of purity, which is as good as a purity certificate. In fact, it is better than a certificate also. All ornaments can have a hallmark on them and no one in the world can challenge the quality and purity of the metal. The hallmarking of gold has been made compulsory by the government, but it will not be implemented immediately as there are not many hallmarking centres in the city.
Only Metros, two and three-tier cities have these centres. Before making it compulsory, the government needs to ensure that there is at least one hallmarking centre in every 50 or 100 square kilometre of area.
— Vastupal Ranka, director, Ranka Jewellers
Hallmarking will ensure that customers are not cheated
Hallmarking is a part of quality control in a standardised way. This decision will benefit customers as they can now confidently buy products with guaranteed purity that cannot be challenged in the world. Now it depends on the government whether it can implement the rules strictly. It is important to punish or fine the cheaters who don’t follow the rules.
It is equally important to make the system work transparently. Also this will ensure that the customers are not cheated or duped as the hallmark stands for purity. Since Pune is not a manufacturing hub, it does not require many hallmarking centres. But in the future, the city will definitely need more such centres.
— Saurabh Gadgil, PN Gadgil Jewellers
Some jewellers cheat buyers by selling 18 or 20-carat gold
If the government has made hallmarking compulsory then it is great news because now no jeweller can cheat a customer. Till date, small-time jewellers have been cheating buyers by saying that the jewellery is 22-carat whereas it is mostly 18 or 20-carat only. But if hallmarking is done, such practices can be stopped.
Secondly, once we buy gold or ornaments from one jeweller, even if they are reputed ones, we have to go back to the same shop to exchange or sell gold. Even if we don’t like the designs, we have no choice. Now with hallmarking, we can sell the ornaments at any shop. Thus, we can choose from a wide range of designs.
— Anjali Ramnani, schoolteacher
Hallmarking will standardise the purity of gold
I am a student and my parents keep buying gold in small quantities. As long as the metal is in pure form, it isn’t a matter of concern. But when we make ornaments, there could be a doubt about gold’s purity. We go to reputed jewellers, but in smaller shops one could get cheated easily. Now that hallmarking has been made compulsory, I hope it is implemented soon so that people can buy gold without any worries. It will also ensure that the investment is safe and guarantees purity. Hallmarking is a good way to stop fraudulent activities and standardise the purity of gold all over the world.
— Yashashri Satpute, IT student
We will be able to buy gold from shops of our choice
Saving in small amounts is something every homemaker ends up doing. I have been investing in small amounts of gold frequently. When I have to make any jewellery, I end up going to the same jeweller from whom I have been buying gold as they guarantee purity of the gold sold. I feel once hallmark is made compulsory, jewellers will have to accept the gold sold back to them by customers without making them bear any losses. We will get an opportunity to buy gold from different places as per our convenience and choice. The move to hallmark gold will certainly provide value and authenticity to the jewellery.
— Manda Bhalerao, homemaker
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