Live Markets »News & Advice»Market News»Market News Details
Market News Details

Jewellers bat for standardisation in hallmarking of gold to avoid confusion

Press Trust of India/Kolkata 13 Apr 19 | 07:06 PM

Major jewellers in the country have appealed to the government for standardisation in hallmarking of gold, contending that multiple measures of purity involved in the process was creating confusion in the industry.

The All India Gem and Jewellery Domestic Council (GJC) has urged the consumer affairs ministry for standardisation in hallmarking purity across the country.

Related Stories

    No Related Stories Found
Widgets Magazine

Vice-chairman of GJC, Shaankar Sen, said that various forms of purity like 14, 18 and 22 carats are being used for the hallmarking process.

ALSO READ: Govt bats for holding gold in electronic form: Here are the details

Citing an example, Sen said that for gold bars and coins, the purity required for hallmarking is 20 and 24 carats, respectively.

This, he said, was creating confusion in the jewellery industry, necessitating standardisation.

Chairman of GJC, Anantha Padmanabhan, said when the the model code of conduct is in force, there is a need for a standard operating procedure (SOP) regarding the seizure of gold in transit, based on valid documents.

"We will meet the chief election commissioner and discuss the matter," he told reporters here on Saturday.

He also said the annual turnover of the gem and jewellery industry is around Rs 4 lakh crore, which is expected to double in the next couple of years.

The GJC also launched a sensitisation programme - 'Labham' - for jewellers, providing information on regulatory compliance and best business practices.

Widgets Magazine


Company Price Gain (%)


Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine