The Government of India (GoI) announced earlier this month that no one can sell, display or offer to sell gold jewellery or gold artefacts if not hallmarked according to the new norms that came into force in July 2021.
As the government gave just a month’s time to re-stamp the hallmark for all jewellery, jewellers who have stock of jewellery that was made four or five years ago or even earlier will face problems.
They claim that it will take at least two months for every jeweller to identify and segregate jewellery with the four symbol hallmark from those that were hallmarked recently.
According to Indian retailers, they need time till March 2024 to do this. If they have 10% stock with the old hallmark after that, the government should give one more year’s time.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
As the government gave just a month’s time to re-stamp the hallmark for all jewellery, jewellers who have stock of jewellery that was made four or five years ago or even earlier will face problems.
They claim that it will take at least two months for every jeweller to identify and segregate jewellery with the four symbol hallmark from those that were hallmarked recently.
According to Indian retailers, they need time till March 2024 to do this. If they have 10% stock with the old hallmark after that, the government should give one more year’s time.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
