Post the implementation of mandatory hallmarking from 16th June 2021, the Indian jewellery industry was seeking clarity on a host of concerns with regard to the new rules of hallmarking. GJEPC, the apex body of the gem and jewellery trade, organised a webinar on 28th June, with the authority and keynote speaker Mr. Pramod Kumar Tiwari, Director General, Bureau of Indian Standards (BIS) to address queries concerning the manufacturing, retail and the end consumers.<\/p>\n\n\n\n
Mr. Tiwari fielded questions from the industry and announced some key developments on hallmarking during the session.<\/p>\n\n\n\n
\u2022 An advisory committee will be formed to address the concerns of the jewellers
\u2022 Additional gold purities of 20k, 23k, and 24k will also be allowed for hallmarking.
\u2022 BIS is thinking of a subsidy to the tune of 75% for hallmarking centres to sustain despite low volumes.
\u2022 Since BIS made registration free, jeweller registrations have climbed to 40,000 from 36,000 in a matter of days.
\u2022 The manufacturer and retailer are allowed to stamp their logos on the jewellery in addition to the hallmark.
\u2022 Retailers can bulk upload inventory to the assaying centres without any need for manual entries.
\u2022 All existing hallmarked jewellery need not be re-hallmarked with HUID.
\u2022 Any household jewellery can be sold to any retailer\/jeweller without being hallmarked
\u2022 The jewellery photograph is also not mandatory right now.
\u2022 The HUIDs of melted stock will be disabled.
\u2022 Hallmarking has no expiry date as of today. This point will be raised at the Advisory Committee meeting.
\u2022 It is not mandatory to Hallmark jewellery exhibited at Domestic B2B trade shows approved by state or central government as there are no sales happening.
\u2022 In case the jewellery is made with two metals, hallmarking is only mandatory as of now only for the gold and silver component in the jewellery.
\u2022 Jewellers will be issued a BIS advisory for minor variance in karatage, but a variance of 40 ppt or more will incur a notice.<\/p>\n\n\n\n
Speaking at the Webinar Mr. Colin Shah, Chairman, GJEPC <\/strong>said, \u201c16th June, 2021, was a historic day in the history of the jewellery industry in India. In all our meetings with Shri Piyush Goyal, Ministry of Consumer Affairs, the goal was very clear: to protect the interest of the consumer. On behalf of GJEPC, I thank BIS for today\u2019s session, and Mr Pramod Tiwari for his honest and frank response to our questions. We are with you for the whole journey. GJEPC appreciates the acceptance of industry\u2019s suggestion by BIS to form an Advisory Committee to streamline issues raised by the industry for a smooth transition.\u201d<\/p>\n\n\n\n K. Srinivasan, Convener, Gold Jewellery Panel, GJEPC <\/strong>commented, \u201cWith the implementation of mandatory hallmarking, as an industry we are certainly aspiring to take this industry to the next level. It\u2019s a significant step towards transparency. This would instil trust in the domestic consumers and will boost confidence among the international buyers.\u201d<\/p>\n\n\n\n Most of the queries were clarified by the Director General at the webinar, but few concerns and clarifications would be taken up in the advisory committee meeting .<\/p>\n","protected":false},"excerpt":{"rendered":" Post the implementation of mandatory hallmarking from 16th June 2021, the Indian jewellery industry was seeking clarity on a host of concerns with regard to the new rules of hallmarking. GJEPC, the apex body of the gem and jewellery trade, organised a webinar on 28th June, with the authority and keynote speaker Mr. Pramod Kumar…<\/p>\n","protected":false},"author":1,"featured_media":9551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-9550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n