Jewellers Pitch For Standardisation In Hallmarking Of Gold
A mark of 999.9 fine sits on hallmarked 12.5 kilogram gold bullion bars stacked at the Valcambi SA precious metal refinery in Balerna, Switzerland. (Photographer: Stefan Wermuth/Bloomberg)

Jewellers Pitch For Standardisation In Hallmarking Of Gold

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Major jewellers in the country have appealed to the Consumer Affairs Ministry for allowing standardisation in hallmarking of gold of various purity measures.

"At present, there are three categories of purity, which are allowed for hallmarking — 14, 18 and 22 carats," Shankar Sen, vice chairman, All India Gem and Jewellery Domestic Council, said in a statement.

GJC and other associations have appealed to Consumer Affairs Minister Ram Vilas Paswan to also consider bringing 20, 23 and 24 carats in the purview of hallmarking, along with coins and bars in the 24-carat purity.

Talking about the ongoing Lok Sabha polls, GJC Chairman Anantha Padmanabhan said when the the Model Code of Conduct is in force, there is a need for a standard operating procedure regarding the seizure of gold in transit, based on valid documents.

He said the annual turnover of the gems and jewellery industry is around Rs 4 lakh crore, which is expected to double in the next couple of years.

Also read: India Seizures of Cash, Booze and Gold Surge

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