Hallmark: Will gold hallmarking become mandatory across the country? The government is accelerating preparations..

There's big news for gold buyers. The central government is moving towards making gold hallmarking mandatory across the country. Currently, gold hallmarking is mandatory in 26 states and union territories, but now preparations are underway to implement it nationally. The government is preparing a detailed report on this matter. Silver hallmarking is also being considered, while the issue of bullion hallmarking is currently on hold.

What is Gold Hallmarking?
Hallmarking is a government guarantee of the purity of gold. In India, the BIS (Bureau of Indian Standards) is responsible for hallmarking. When a piece of jewelry comes with a BIS hallmark, it means that:

The purity of the gold has been verified.

The correct carat information has been provided

The customer is protected from fraud.

Hallmarked jewelry is identified as follows:

BIS logo

Carat or purity information (e.g., 22K, 18K)

Identification of the jeweler or hallmarking center

Where is hallmarking currently mandatory?

Currently, gold hallmarking is mandatory in 26 states and union territories, including Uttar Pradesh, Maharashtra, Gujarat, Rajasthan, Bihar, Jharkhand, Odisha, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana. However, some remote and border areas are exempt. The government believes that expanding the scope of hallmarking will strengthen consumer confidence and bring transparency to the jewelry sector.

Why is hallmarking considered mandatory nationwide?
The government has several reasons for considering implementing gold hallmarking nationwide.

Customers should receive pure gold at the right price.
Fake or low-purity jewelry should be curbed.
Transparency in the jewelry business should be increased.
Better compliance with taxes and regulations should be ensured.
Lifting should be achieved to meet international standards.
Even today, in many places, people purchase jewelry without hallmarks, resulting in losses later.

Major Benefits of Hallmarking for Customers
Gold hallmarking is not just a seal, but a protective shield for the customer.

Guarantees purity.
Get a better price when selling gold.
Proof is available in case of a dispute with the jeweler.
Gold becomes more reliable as an investment.
The possibility of fraud and adulteration is reduced.

This means that the customer receives peace of mind as well as financial security.

What is the government's plan for silver hallmarking?

The government is seriously considering making silver hallmarking mandatory. While the demand for silver jewelry and utensils is constantly increasing, complaints regarding purity also continue to surface. If silver hallmarking is implemented, consumers will have the same assurance they get when purchasing silver as they do with gold.

Why is bullion hallmarking stalled?
Discussions on hallmarking bullion, i.e., gold and silver bars and coins, have not progressed. Reasons cited include:

Technical issues related to trade,

Cost and complexity of the process,

Impact on international trade.

Therefore, the matter is currently on hold.

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