Be tension free while buying gold, around 3.7 crore jewelery hallmarked during April-July

Photo:FILE Gold

The possibility of fraud in gold business in India is now being eliminated to a great extent. The reason for this is the increasing scope of hallmarking in the country. The government on Wednesday said 3.7 crore jewelery hallmarkings were done during the April-July period of the current financial year. The law to make mandatory hallmarking of gold jewelery came into force from June 16 last year.

Hallmarking of 8 crore jewelery in a year

The Bureau of Indian Standards (BIS) said in a statement, “In the year 2021-2022, 868 million jewelery was hallmarked, while from April 1, 2022 to July 31, 2022, 37 crore jewelery was hallmarked.” Listed below are some of the important achievements since the release of mandatory hallmarking on June, 2021. The registration of jewelers was made free and valid for life.

Hallmarking made mandatory from Jurla 2021

Hallmark Unique Identification (HUID) based hallmarking portal was launched on July 1, 2021. The entire functioning of the Testing & Hallmarking Center has been automated and made online. “The number of BIS registered jewelers has increased from 43,153 as on July 1, 2021 to 1,43,497 as of August 1, 2022,” the bureau said. The number of recognized Assaying and Hallmarking Centers has also increased from 948 on 1 July 2021 to 1,220 as on 31 July 2022.

Second phase implemented from June 2022

The implementation of mandatory hallmarking was done in two phases. In the first phase, three categories of gold articles viz., 14 karat (585 purity), 18 carat (750 purity) and 22 carat (916 purity) were covered under the mandatory hallmarking order. The order was implemented in 256 districts having at least one testing and hallmarking center in this phase. BIS said that the second phase of mandatory hallmarking was implemented from June 1, 2022. The second phase of mandatory hallmarking includes three additional carats of gold jewellery/artifacts – 20 carats (833 purity), 23 carats (958 purity) and 24 carats (995 purity).

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