Mandatory gold hallmarking from today: How this will affect you

The central government is all set to bring into effect mandatory hallmarking of gold ornaments and artifacts across the country. For India, the world’s largest importer of gold, the move spells a significant shift in the way consumers purchase the precious metal from jewellers.

The nationwide mandatory gold hallmarking plan will be implemented in a phased manner with the focus on 256 districts in the first phase. As per the new guidelines, jewellers across India will now be allowed to sell gold items of only 14, 18 and 22 carats.

Currently, only 40 percent of the gold jewellery sold in India is being hallmarked. Only 35,879 of India’s approximately 4 lakh jewellers are currently BIS (Bureau of Indian Standards) certified.

Announced back in November 2019, the mandatory gold hallmarking was supposed to come into effect from January 15, 2021. It was first delayed to June 1, and then again to June 16. Indian jewellers had sought more time due to the ongoing second wave.

Here is how mandatory gold hallmarking will affect you:

• Hallmarking is a purity certification that was voluntary till now. It ensures that customers buying gold from being given lower caratage jewellery that what they are made to pay for.
• The enforcement process will be overseen by a committee headed by Pramod Tewari, the Director-General of the Bureau of Indian Standards (BIS).
• A BIS hallmarking scheme for gold jewellery is underway since April 2000.The procedure for both the Registration and Renewal of Jewellers as well as Recognition and Renewal of the Assaying and Hallmarking Centres was brought online by the centre in 2020.
• Jewellers can apply and submit required documentation for a licence through the Bureau of Indian Standards web portal www.manakonline.in.
• Customers can identify hallmarked gold with the help of these 4 symbols of purity: 1) BIS Mark, 2) Carat and Fineness Purity, 3) Hallmarking Centre’s identification mark/ number and 4) the Jeweller’s identification mark/ number.