Mandatory gold hallmarking should be approved before Diwali says Consumer Affairs Minister

By

Isabelle Crossley

Published
Sep 13, 2019

The mandatory hallmarking of gold in India should be approved before the Diwali festivities according to the Consumer Affairs Minister, Ram Vilas Paswan.

The central government’s Ministry of Commerce should approve the Ministry of Consumer Affairs’ proposal to make gold hallmarking mandatory before Diwali, Paswan said on September 12, as reported by the Press Trust of India. Hallmarking gold to certify purity is currently optional for jewellery businesses in India and is far more common in the organised section of the market compared to the unorganised section. 

"We have sent a proposal to the Commerce Ministry to allow mandatory hallmarking for gold jewellery,” Paswan told a group of reporters. “It should approve on a priority basis before Diwali in the interest of consumers."

As demand for gold jewellery traditionally rises around the time of Diwali, Paswan is keen to get the proposal passed before the festivities begin. 

The current, optional, hallmarking standards are set by the Bureau of Indian Standards. The BIS has standards for three purity grades of gold, 14 carat, 18 carat, and 22 carat. 

Paswan said that the BIS Act 2016 did have provisions to make gold hallmarking mandatory and at present, only around 40% of gold jewellery for sale in India is hallmarked. The aim of making hallmarking mandatory is to increase consumer trust in the industry.