Hallmarking of gold bullion to be made mandatory

07 Mar 2023

News
Hallmarking of gold bullion to be made mandatory

Pramod Kumar Tiwari, Director General, Bureau of Indian Standards (BIS), said, “We have started a process of consultation. An advisory group has been constituted, which includes representatives of all stakeholders including jewellers and government officials. We have also prepared draft guidelines, as to how to implement this… Now the advisory group will consider it. Once an agreement reaches on the draft, we will circulate it for wider consultations. Our endeavour is to ensure mandatory hallmarking of gold bullion by taking on board all [stakeholders] as soon as possible.”

Tiwari, addressing a press conference, said the demand for making gold bullion hallmarking mandatory came from jewellers. “We decided that it’s a good idea,” Tiwari said.

Tiwari said that the advisory group includes representatives of mints, gold refineries, gold importers, jewellers, and Assaying and Hallmarking Centres.

As of now, gold jewellery hallmarking is mandatory across 288 districts. The Centre has also said that the sale of gold jewellery and gold artefacts hallmarked without a Hallmark Unique Identification (HUID) number shall not be permitted in the country from April 1, 2023. The HUID is a unique 6-digit alphanumeric code consisting of numbers and letters. According to the ministry, the HUID will be given to every piece of jewellery at the time of hallmarking and it is unique for every piece of jewellery. This unique number is stamped, manually, on jewellery at the Assaying & Hallmarking Centers (AHCs).

Tiwary said, “The step is being taken to safeguard and protect the consumers and enhance their confidence in purchase of hallmarked gold jewellery with traceability and assurance of quality.”

“Hallmarked jewellery already sold and lying with consumers as per old scheme shall remain valid,” Tiwari said.

Tiwari also informed that the BIS, the country’s body to fix standards, will transfer 439 food products standards to the Food Safety and Standards Authority of India. This means that now the FSSAI will be responsible for fixing standards for these food products, he said, adding that if there is any need for amendments in the existing standards of food products, the FSSAI will make those amendments.

If there is any requirement to make new standards for food products, now onwards, the FSSAI will fix those standards, he said, adding that the move is to align with the international system.

 

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