The ‘Hallmark’ label must be mandatory for jewelers to sell gold, exemption for export items

retail
By retail August 6, 2019 17:30 Updated

The ‘Hallmark’ label must be mandatory for jewelers to sell gold, exemption for export items

NEW DELHI: Soon, only registered jewelers will be able to sell gold jewelry and artifacts and will be able to sell even more precious metal only with the hallmark label of the Bureau of Indian Standards. Hallmark is a purity certification for gold items.

The Ministry of Consumer Affairs has issued a draft notification with the proposal to obtain a control order for the sale of all gold items that are more than two grams and are intended for internal consumption. Although the ministry had been interested in implementing this proposed mandatory standard, it could not be implemented so far due to several reasons, the sources said.

The draft notification specifies that the new standard will force retail outlets to obtain certification and obtain all marked gold products before selling them. These will be sold only by registered jewelers through certified outlets after meeting the conditions for precious gold items, gold jewelry, and gold items, says the draft proposal.

Authorities said the order will be issued shortly after considering the suggestions and objections of the interested parties. Only items of less than two grams, intended for export, to be used for medical, dental or industrial purposes and gold bars in the form of a bar, plate, foil or foil will be exempt from obtaining the seal, said an official.

He added that marking is important as people buy gold items believing that this is a safe investment or savings.

Courtesy: TOI

retail
By retail August 6, 2019 17:30 Updated
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