Indian government makes gold hallmarking compulsory
NEW DELHI, January 4, 2012 – India’s government has approved a proposal making hallmarking of gold mandatory.
The move could boost demand for gold jewellery in India as it would allay concerns over quality, officials said.
The cabinet, headed by Prime Minister Manmohan Singh, cleared the proposal by approving amendments to the Bureau of Indian Standards (BIS) Act, 1986, that aim to expand mandatory hallmarking to include more products, including gold.
Bombay Bullion Association President Prithviraj Kothari welcomed the move, saying the government now needed to quickly build more hallmarking centres to keep pace with demand. The move has prompted calls for similar measures on silver jewellery.
Hallmarking silver products is not yet compulsory in India.
