Weeks after claiming that the implementation of mandatory hallmarking should be delayed by a year due to the Covid-19 pandemic and a lack of infrastructure, the All India Gem & Jewellery Domestic Council (GJC) has issued a statement dated 4th May, 2021, demanding its postponement claiming that the limited official gold purities (14k, 18k and 22k) restrict consumer choice.
“The Bureau of Indian Standards (BIS), by not recognising the other karatages has imposed a fetter on the freedom of jewellers to sell articles of different karatages,” GJC stated, while pointing out varied regional preferences for gold purity.
The BIS, by Indian Standards IS 1417:2016, which approves the standards for purity and fineness of gold articles, prescribes that gold articles of only 14k, 18k and 22k will be allowed in the mandatory hallmarking to become applicable in June 2021.
Ashish Pethe, Chairman, GJC called on BIS to expand the range of approved karatages. “Gold is also used as an investment option especially gold coins of 23k and 24k is highly preferred by the customers in India,” he said.
Pethe added, “The current restraint imposed by BIS is not in conformity with the prevalent international standards in the industry including the World Gold Council which has recognised purity and fineness of multiple karatages ranging from 9k to 24k.
“It is common to find 23k and 24k gold items in Akola, Kolhapur, Solapur, Pune and Jalgaon in Maharashtra while in Haryana, Punjab and Western Uttar Pradesh, they usually sell 20k and 21k.”