In India, jewelry is unique to every individual, and on every occasion, it adds a lot of value and emotion. So, while buying jewelry a customer needs to be very careful in terms of the purity of the gold, no matter from where you are buying or how much you are paying for it. Every jewelry in India requires certification and authorized registration that the license is called hallmark licence, it gives purity of metal.
A hallmark is a mark or a stamp that is mostly affixed on items of trade, gold and silver items, to indicate the purity, genuineness and origin of the product. Earlier it was not mandatory, however with effect from 16.06.2021 it has been made mandatory on articles made of gold and silver.
It is highly likely that unmarked gold and silver items are not authentic and are not pure. A hallmark is the best way to identify whether a product is genuine or not. It purely provides credibility with respect to the product. Furthermore, having a hallmark on gold or silver jewelry has the advantage that it is easy to sell in the market as it describes its authenticity which is lacking in products that do not have a hallmark.
The Indian government had notified the rules and regulations for hallmarking gold and silver jewelry but the decision is still pending as the government is also deciding when to make it mandatory. Many small jewelers in rural as well as urban areas are selling non-hallmarked jewellery, however, BIS has issued a warning to unregistered jewelers not to sell hallmarked and non-hallmarked jewellery.
In any case, the Bureau of Indian Standards (BIS) warning will create awareness if there is a delay in mandatory hallmarking on the part of the government.
An identifier can quickly identify hallmarked (gold and silver) jewelry as it consists of four (4) identification notes-
Hallmark registration is granted on gold and silver jewelry products after inspection by BIS laboratories at the regional centre. Contact us today at My Financial Advisory for hallmark registration in India.
A jeweler can apply for a Hallmark license if he fulfills the following requirements for the application of Hallmark approval: