Mandatory hallmarking of gold ornaments to protect customers

MUMBAI: Indian jewellery industry is on the cusp of complete transformation with the government making hallmarking of gold ornaments mandatory and the move is expected to bring better consumer protection, officials from the sector said on Thursday.

While the mandatory hallmarking guidelines were approved by the government in 2000, their effective implementation was deferred until now.

As the government mulls action against retailers who sell gold ornaments without hallmarking, organised retailers, with 30 per cent of market share, hoped this will prevent selling of non-hallmarked jewellery.

Most of organised retailers have already created their own brands and hence, they would not get affected.

“The number of hallmarking centres is adequate to meet the requirement of mandatory hallmarking. With the government making hallmarking of gold ornaments mandatory, it is expected to bring better consumer protection,” Indian Association of Hallmarking Centres Vice-President James Jose said in a statement here.