Early response is weak to compulsory gold hallmarking in India

Section:

By Sutanuka Ghosal
The Times of India, Mumbai
Monday, February 17, 2020

The initial response to compulsory hallmarking of gold jewellery and artefacts from January 15, 2021, has been lukewarm in the unorganised gold trade. Industry insiders said lack of awareness about the law was one of the reasons for this.

The faster jewellers ensure hallmarking, the better it is for consumers, who will not be duped while purchasing their favourite piece of jewellery. Consumers living in small cities, towns, and rural parts of the country suffer on the gold purity front as many jewellers do not offer hallmarked jewellery. Rural India accounts for 60 percent of the country's gold consumption of 800-850 tonnes a year.

... Dispatch continues below ...


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From January 15 next year, jewellers will be allowed to sell only hallmarked jewellery and artefacts made of 14-, 18-, and 22-karat gold. Any violation would attract penalty and be liable to imprisonment of one year. ...

... For the remainder of the report:

https://economictimes.indiatimes.com/markets/commodities/compulsory-gold...

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