Gem and jewellery industry must consider hallmarking of precious stones jewellery: Piyush Goyal

Speaking at the commencement ceremony of Bharat Ratnam Mega CFC for the gem and jewellery industry in SEEPZ SEZ, Mumbai, Goyal said that 50 hallmarking centres should come up across India for precious stone jewellery

Mumbai: Union Minister Piyush Goyal stated that the gem and jewellery industry must consider the hallmarking of precious stones jewellery studded with emeralds, rubies and sapphires. Speaking on the occasion of World Consumer Rights Day, he said that the government was able to successfully implement hallmarking of gold jewellery even though it was notified more than two decades ago.

Goyal said that 50 hallmarking centres should come up across India for precious stone jewellery. He was speaking at the commencement ceremony of the Bharat Ratnam mega Common Facility Centre (CFC) for the gem and jewellery industry situated in SEEPZ SEZ, Mumbai.

Talking about the hallmarking of precious stone jewellery, Goyal said that the certification body BIS would fund such hallmarking centres so that they could have the latest world-class testing equipment and machines. Earlier, on January 12, the Mega CFC was virtually inaugurated by Prime Minister Narendra Modi during his visit to Mumbai.

The coloured gemstone industry in India has seen growth despite historical challenges in organization and credibility regarding product origins. However, there is room for improvement in ensuring transparency and providing assurances to consumers. Recognizing the importance of sustainability and provenance, particularly to the discerning younger generation, presents an opportunity for positive change. By implementing hallmarking practices, the industry can enhance customer trust and create a more robust market for colored gemstones, aligning with evolving consumer values.

Courtesy: thehindu.com