Government further extends mandatory gold hallmarking deadline
On Monday, the government once again extended the deadline for the mandatory hallmarking of gold jewellery by two weeks to June 15, as local lockdowns continue due to the pandemic.
“In view of Covid, the government accepted the request of stakeholders to give jewellers some more time to get prepared for implementation and resolve issues,” said the Ministry of Consumer Affairs in an official statement, the Press Trust of India reported.
The decision was made at a meeting led by Consumer Affairs Minister Piyush Goyal.
The introduction of mandatory hallmarking for all gold jewellery in India had previously been extended to June 1. However, as local lockdowns began to be enforced, many small and local jewellery businesses had not yet completed the registration process and could not do so before the deadline under lockdown.
The move to introduce mandatory hallmarking is intended to contribute to the organisation of India’s fine jewellery market. Hallmarking different purities of gold at government mandated centres is also designed to increase consumer trust. While many large jewellery businesses already hallmark their jewellery, many local businesses do not.
Despite the continued delays, the government remains committed to introducing mandatory hallmarking.
“India must have the world's best standards in gold jewellery,” said Nidhi Khare, additional secretary for the Department for Consumer Affairs.
“This step will also help to develop India as a leading gold market centre in the world.”
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