Trade Body Anticipates Last Minute Rush for Gold Hallmarking

SEATTLE (Scrap Monster): The Gem and Jewellery Export Promotion Council (GJEPC) said that there would be a last minute rush by jewellers in the country for getting their jewellery hallmarked. The government had extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight to 15^th June, in view of repeated requests by jewellery trade bodies.

Initially, the government had made hallmarking mandatory with effect from mid-January, but was later extended by a period of 3.5 months, so as to allow more time for jewellers to clear off their old non-hallmarked stock and get the new jewellery hallmarked.

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After the extended deadline, jewellers will be allowed to sell only 14, 18 and 22 carats of gold jewellery. Every piece of hallmarked jewellery would carry a BIS logo, caratage of the piece, the weight, the hallmarking centre’s number and the jewellery centre’s number as well. This would bring in more credibility and transparency to the entire industry.

Colin Shah, vice chairman, GJEPC noted that the capacity utilization of hallmarking centres in the country is currently 25%. However, the main challenge remains that these centres are clustered in certain areas. There are several districts in the country where there are no hallmarking centres at all. There are chances that these centres may face a little rush, Shah added.