Modi 2.0 on the way of Mandatory Hallmarking
Notification for mandatory Hallmarking of Gold Jewellery & Artefacts across the nation to be issued on 15th January 2020 giving one year time period for implementation: Shri Ram Vilas Paswan! The Union Minister for Consumer Affairs, Food and Public Distribution Shri Ram Vilas Paswan announced that Notification for mandatory Hallmarking of Gold Jewellery & Artefacts across the nation to be issued on 15th January 2020.
Addressing media after the announcement, Shri Paswan said that Hallmarking of Gold Jewellery & Artefacts is being made mandatory in India for which a notification will be taken out by the Department of Consumer Affairs.
At the occasion, Somasundaram PR, Managing Director, India, World Gold Council said, “This is an excellent step in the right direction, a long-overdue policy action. It will bring trust back to the gold industry, benefiting consumers and trade alike. It will change the image of the Indian gold industry and enable it to market our famed jewellery handcrafting skills in an environment of trust and transparency.
De facto initial oppose was over mandatory was made categorically by gem & jewellery trade media veteran to the government in the year 2007 as the government had not initiated to set up adequate Hallmarking centre across the countries. Even in the last meeting with Union Secretary, this question was raised in the 2017 & the ongoing government was agreed upon the technical issue. As on 31st October 2019, there are 877 Assaying and hallmarking centres spread in 234 district locations across the country and so far 26,019 jewellers have taken BIS registration.
By adding his thought Somasundaram PR said: “Mandatory hallmarking will lead to more jobs in assaying and purity verification which in turn will support the gold monetisation scheme. The period of one year to transition takes into account business realities and is very supportive of trade. We welcome it and do hope the trade sees this in a positive light, working wholeheartedly to make it a success.”
A period of one year will be given for implementation to ensure that new A&H centres will be set up by private entrepreneurs at locations where the demand of Gold Jewellery and artefacts arises; completion of the registration process of jewellers and one year time for retailers of jewellery to clear their existing stocks. The Minister said that hallmarking will benefit the poor people in villages and small towns who are not able to make out the purity of gold they have been buying.
The BIS (Bureau of Indian standards) Act 2016 has to enable provisions under Section 14 & Section 16 for making hallmarking of gold jewellery and artefacts mandatory by the Central Government. This will make it compulsory for all the jewellers selling gold jewellery and artefacts to register with BIS and sell only hallmarked Gold jewellery and artefacts.
The draft Quality Control Order for mandatory hallmarking of gold jewellery and artefacts has been hosted on WTO website on 10th October 2019 for comments for a period of 60 days. The BIS Act 2016 has been implemented with effect from 12th October 2017 and BIS Hallmarking Regulations 2018 notified with effect from 14-6-2018. BIS has been running a hallmarking scheme for gold jewellery since April 2000.