India to enforce mandatory gold hallmarking from June 15: Here’s what buyers need to know

The government is all set to implement mandatory hallmarking of gold jewellery and artefacts from tomorrow, 15 June 2021. Earlier the deadline was 1 June which was extended by a fortnight in view of the Covid-19 pandemic.

A committee, headed by Bureau of Indian Standards (BIS) Director-General Pramod Tewari, has been formed to ensure proper coordination and resolve the implementation issues. Hallmark is a purity certification for gold. Currently, only 40 percent of gold jewellery sold in India is being hallmarked.

Furthermore, only 35,879 of India’s approximately 4 lakh jewellers are currently BIS (Bureau of Indian Standards) certified, according to the World Gold Council.

Here’s what you need to know about how the government’s new guidelines impact your future gold purchase:

1) Gold hallmarking is a purity certification of the precious metal.

2) From 15 June 2021, jewellers will be allowed to sell only 14, 18 and 22 carats of gold jewellery.

3) At present gold hallmarking is voluntary. The government says the aim for mandatory hallmarking of gold is to ensure consumers do not get cheated while buying gold ornaments.

4) The registration process has been made online and automatic.

5) The BIS is already running a hallmarking scheme for gold jewellery since April 2000

6) The government said there has been a 25 per cent increase in assaying and hallmarking centres in the last five years.

7) About 14 crore articles can be hallmarked in a year with the existing capacity of these centres.

8) Around 40 per cent of gold jewellery is being hallmarked currently.

9) According to the BIS, the mandatory hallmarking will protect the public against lower caratage and ensure consumers get the purity as marked on the ornaments.

10) India has around 4 lakh jewellers, out of which only 35,879 have been BIS certified, as per the World Gold Council.