Gold jewellery exports and gold articles exempted from mandatory hallmarking

In a major relief to the industry, the Government of India through a notification dated 24th December 2021, has issued guidelines on exemptions given in Hallmarking of Gold Jewellery and Gold Artefacts including on any article meant for international exhibitions; any article meant for domestic business-to-business exhibitions, approved by the Government; and special categories of jewellery, namely Kundan, Polki and Jadaau, as per a press release from GJEPC. 
This announcement has come at the back of the numerous requests made on the export and re-import rules concerning the trade policy of the Government of India.
Colin Shah, Chairman, GJEPC said, “The new Bureau of Indian Standards (BIS) guidelines will make the hallmarking policy in line with the foreign trade policy and also ensure ease of doing business for exporters as hallmarking is an Indian consumer-specific regulation and exporters have to comply with the hallmarking regulations of the country to which the goods are exported. The amendment will provide a fillip to the Gold Jewellery trade and further boost the Gold Jewellery exports from India in the new year. We are in deep gratitude to the government who has been extremely cognizant of our demands and has always boosted our growth in fulfilling the Atmanirbhar Bharat dream. I am hopeful that this momentum continues and we are all set to enter the new year with a new spirit and zeal to help us achieve our goal of USD 41.75 billion in exports for the year 2021-22”.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished