According to a report in the Times of India (TOI), India will implement a mandatory hallmarking regulation for all gold bullion, including imports, starting next year. This step aims to ensure the purity of gold products in the country.
“There is a consensus among all stakeholders and we are confident of making hallmarking mandatory for gold bullion next year. There is a unanimity that whatever is coming to the country should come under our mandatory standard norms,” Pramod Kumar Tiwari, Director General of the Bureau of Indian Standards (BIS), told TOI. “The sub-committee on this matter has submitted its report.”
The report said the new regulation will extend this requirement to gold bullion used for manufacturing gold jewellery and artifacts sold in India. However, there will be an exemption for gold bullion that jewellers use to make their own jewellery and artifacts. All existing assaying and hallmarking centres will be authorised to test gold bullion.