Importance of Hallmarking System in India
Jewellery Hallmarking is necessary to boost the economic growth of the country. In India, gold jewellery plays an important role for gifting purposes in various auspicious occasions like weddings. Hence, the jewellery industry makes a huge revenue because of the substantial amount of buyers. Due to a large consumption, jewellery wholesalers, retailers and even small artisans tend to cheat on their customers. Also, there is a heavy competition, low-profit rates and higher gold rates, which drive these jewellery industry operators to perform adulterations by selling low karat/ low-quality jewelry in high karats to the public.
To protect the consumers from this, the Indian Government has brought hallmarking standards in early 2000. Regardless of that, frauds are still performed. Keeping this in mind, Ministry of Consumer Affairs, Food and Distribution has implemented the mandating on the selling of only hallmarked jewellery (gold/silver) from January 2021; any violations regarding this will bring strict penalty and a year of imprisonment. These frauds may stop only when consumers become fully aware of the jewellery standards and hallmarking codes. Only consumer’s cognizance can bring a big change in the Indian jewellery market.
Let’s fully understand the concept and definition of Hallmarking.
Hallmarks are official symbols that are used worldwide as a guarantee of purity in various precious metals. Hallmarking system is made to put obligations on the manufacturers in maintaining the legal purity standards, protecting the end-consumer, retailers and even small level artisans. Currently, there are two precious metals i.e. gold and silver have been brought under the purview of Hallmarking in India.
Hallmarking System in Indiauses BIS Hallmarking System (Bureau of Indian Standards). This system is India’s National Standard Organization which certifies and set jewellery standards.
Now let us understand theprocess of HallmarkingAs per the new instructions of the ministry, Hallmarking will be done only in these three categories 14K, 18K and 22K. This whole process takes five to six hours which includes three simple steps-
- Homogeneity testing
- Purity Testing
- Intense Assaying of the Item
There are four signs of Hallmarking that proves their authenticity-
- BIS Mark
- Purity in percentage (916.750,583)
- Assay Centre Names
- ID Mark of Jewellers