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There has been a notable surge in the volume of hallmarked jewellery items, it said.
SEATTLE (Scrap Monster): The Bureau of Indian Standards (BIS) announced that the mandatory hallmarking requirement which came into force in mid-June this year has witnessed huge success. There has been a notable surge in the volume of hallmarked jewellery items, it said.
Around 3.7 crore jewellery articles were hallmarked during the initial quarter (April-June ’22) of the current fiscal year. Also, nearly 8.68 crore jewellery articles were hallmarked in the previous fiscal year ended 30th March, 2022. The statement further noted that the number of BIS registered jewellers have surged higher significantly from 43,153 in July last year to as many as 1.43 lakhs in August this year. Over the same period, the count of BIS-recognized Assaying and Hallmarking Centres have increased from 948 to 1,201.
ALSO READ: BIS Declared Exceptions to Gold Hallmarking Rule
The first phase of mandatory hallmarking had covered 14 carat, 18 carat and 22 carat gold jewellery articles. The second phase covered additional cartages-20carat, 23 carat and 24 carat. Also, it covered more number of districts. Several more districts would be covered under the mandatory gold hallmarking order in future.
The mandatory hallmarking ensures purity of gold purchased by customers. It also offers them higher resale or exchange value for gold jewellery and artefacts.
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