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Gold January 13, 2022 08:20:34 PM

GJEPC: Gold Hallmarking Witnessed Significant Traction

Paul Ploumis
ScrapMonster Author
Furthermore, GJEPC noted that 80% of the hallmarked jewellery was 22-karat.

GJEPC: Gold Hallmarking Witnessed Significant Traction

SEATTLE (Scrap Monster): The latest media release by the Gem & Jewellery Export Promotion Council (GJEPC) suggests significant pickup in gold jewellery hallmarking in the country. The consistent progress in gold jewellery hallmarking demonstrates that the industry has adapted to the government proposal wholeheartedly.

According to the industry body, about 1 crore pieces of gold jewellery were hallmarked with Hallmark Unique Identification (HUID) number during the final month of 2021. Incidentally, the HUID comprises details of hallmarked jewellery such as type of jewellery, purity, name of AHC, name of the jeweller and date of hallmarking, which consumers can view through BIS Care app. It must be noted that the government had made gold jewellery hallmarking mandatory from mid-June 2021.

Furthermore, GJEPC noted that 80% of the hallmarked jewellery was 22-karat. During the entire previous year, around 5 crore pieces were hallmarked. Also, the average time to hallmark, which had been a serious concern for jewellers, has dropped significantly from 87 hours in July 2021 to 28 hours in December 2021.

Meantime, Colin Shah, Chairman, GJEPC thanked BIS for issuing the SOP for export, re-import, domestic exhibitions and international exhibitions of gold jewellery.

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