Government Prepares to Mandate Hallmarking for Gold Bullion
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New Delhi, Dec 6 (NationPress) The government is preparing to implement mandatory hallmarking for gold bullion, a decision aimed at ensuring the purity of gold products and protecting consumers from possible quality concerns, stated Consumer Affairs Secretary, Nidhi Khare, on Friday.
To date, over 40 crore gold jewellery items have been hallmarked, with more than 4 lakh gold items being hallmarked daily, as reported by the government last month.
During her address at the Gems and Jewellery Conference organized by the Confederation of Indian Industry (CII) in the national capital, Khare noted that hallmarking has transformed the jewellery industry by fostering trust and transparency.
She emphasized, "The mandatory implementation of the six-digit unique ID hallmarking system guarantees quality, traceability, and consumer confidence throughout the entire value chain."
The automation of hallmarking procedures, including the API-based integration of XRF data, signifies a significant advancement in quality assurance, optimizing operations and boosting efficiency for both jewellers and consumers.
Khare mentioned that the next milestone for India’s jewellery sector is to develop aspirational global brands.
She remarked, "Taking cues from centuries-old European houses, Indian manufacturers should harmonize their heritage with contemporary consumer preferences across various markets worldwide to make a lasting impact."
Since the inception of mandatory hallmarking, the number of registered jewellers has surged from 34,647 to 1,94,039—a remarkable increase of more than five times. Likewise, the number of assaying and hallmarking centres (AHCs) has risen from 945 to 1,622, as per the Ministry of Consumer Affairs.
GJEPC Executive Director Sabyasachi Ray pointed out that India's gems and jewellery industry has become one of the most compliant sectors globally, upholding high ethical standards and transparency via hallmarking, GST implementation, and the Kimberley Process for conflict-free diamonds.
Ray added, "The achievements of free trade agreements (FTAs) with the UAE and Australia demonstrate how strategic economic diplomacy can enhance the jewellery industry. By concentrating on high-growth regions and lowering export duties, India is establishing a favorable environment for expanding global trade."
