BIS Declared Exceptions to Gold Hallmarking Rule

SEATTLE (Scrap Monster): The Bureau of Indian Standards (BIS) issued new guidelines, declaring amendments to previously announced gold hallmaellersrking policy. The order dated 24^th December, 2021 announced hallmarking exceptions for gold jewellery and artefacts, following protests from industry leaders.

The order covers various categories of gold jewellery, especially those intended for international exhibitions, domestic business-to-business trading and gold pieces for export and re-import in compliance with the Foreign Trade Policy (FTP). Although it covered widely recognized specialized jewellery designs and techniques, it excluded full cut diamond jewellery from exception.

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Commenting on the new BIS guidelines, Colin Shah, Chairman, Gem & Jewellery Export Promotion Council (GJEPC) said that the amendments will help to strengthen the country’s jewellery trade and boost its exports in the forthcoming year. He expressed deep gratitude to the government for listening to their demand. The new BIS guidelines will make the hallmarking policy in line with the FTP, Shah added.

The change in policy will help the jewellery industry to achieve the export target of $41.75 billion set for the fiscal 2021-’22.