Compulsory hallmarking: Worried jewellers await rules on self-certification

Those selling ornaments with lower purity might now offer hefty discounts in order to get rid of non-hallmarked stocks

Reports of compulsory hallmarking of gold jewellery after the government notified the revised Bureau of Indian Standards (BIS) Act last week have sent ripples across the jewellery industry. Many big players have started claiming they sell only hallmarked jewellery. However, those selling non-hallmarked jewellery are prioritising sale of such jewellery and others are considering various options, including self-certification, till all jewellery is hallmarked.

According a report released two years ago by the World Gold Council, “Only 30 per cent of Indian gold jewellery is currently hallmarked. There are widespread differences in purity and an average under-caratage of anywhere between 10 per