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Jewellers want more hallmarking centres to be set up

There are 860 hallmarking centres in the country. Each of these centres can handle 2000 pieces of gold jewellery per day. In FY19, around 450 tonnes of gold were hallmarked. India annually consumes 1000 tonnes of gold.

, ET Bureau|
Updated: Dec 03, 2019, 04.45 PM IST
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KOLKATA: With government deciding to make gold hallmarking mandatory from January 15, 2021, jewellers say that more hallmarking centres should come up to make the initiative a successful one.

Vaibhav Saraf, director, Aisshpra Gems And Jewels said "Mandatory hallmarking will increase transparency and customer confidence in the industry. The key to successful implementation is going to be elimination of fake hallmarking centres and rapid expansion in number of centres.”

There are 860 hallmarking centres in the country. Each of these centres can handle 2000 pieces of gold jewellery per day. In FY19, around 450 tonnes of gold were hallmarked. India annually consumes 1000 tonnes of gold.

Added Tanya Rastogi,director, India Bullion & Jewellers Association (IBJA) and Lala Jugal Kishore Jewellers "As per a survey done by World Gold Council, gold remains the third most popular mode of investment globally. The 56% refraining from investing in gold do so due to mistrust. The mandatory hallmarking will go a long way in converting them. That said, the government also needs to provide ample infrastructure and time to launch this mandate otherwise it will create bottle-neck situation for our already harrowed industry."

Ishu Datwani, founder, ANMOL said "We need more hallmarking centres to be set up so that hallmarking facility is made more accessible to jewellers."

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