Hallmarking of Gold Jewellery- UPSC Current Affairs
Here’s our today’s edition of the Current Affairs Dialog box wherein we will throw light on the ongoing Hallmarking of gold jewellery. Navigate through the blog to know more about the topic and upgrade your UPSC exam preparation with useful insights.
Prelims: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Mains: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation.
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Why in the News?
Recently, the Union Ministry of Consumer Affairs, Food and Public Distribution has announced that the second phase of the mandatory hallmarking of gold jewellery and gold artefacts will come into force from June 1, 2022.
Hallmarking is an important step in the direction of harmonious development of the activities of standardisation, marking and quality certification of goods. Discuss
- The Bureau of Indian Standard (BIS) defines hallmarking as the “accurate determination and official recording of the proportionate content of precious metal in precious metal articles.”
- Thus, it is a “guarantee of purity or fineness” of precious metal articles.
- Hallmarking in India is available for jewellery of only two metals—gold and silver.
- Export and re-import of jewellery as per Trade Policy of Government of India
- Jewellery for international exhibitions, jewellery for government approved B2B domestic exhibitions.
- Watches, fountain pens and special types of jewellery viz. Kundan, Polki and Jadau.
- any article which is intended to be used for medical, dental, veterinary, scientific or industrial purposes.
- any article of gold thread.
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BIS HallMark Symbols
- As per the Department of Consumer Affairs, now BIS hallmark on gold jewellery will consist of three symbols:
- BIS Standard mark: The first sign of hallmark on gold jewellery is the BIS logo in the shape of a triangle which authenticates the purity of gold jewellery.
- Purity/Fineness Grade: Hallmarking of gold jewellery is permitted in six categories: 14K, 18K, 20K, 22K, 23K and 24K.
- 6-digit alpha-numeric code: This code – also called Hallmark Unique Identification (HUID) number--is unique for every jewellery piece.
Image Source: Business Standard
Need to make Hallmarking Mandatory
- India is the biggest consumer of gold.
- However, the level of hallmarked jewellery is very low in the country. According to the Government, at present, only 30% of Indian gold jewellery is hallmarked.
- The Hallmarking of jewellery enhances its credibility and customer satisfaction through the third party assurance for the marked purity of gold, consumer protection.
- Mandatory hallmarking will protect the public against lower cartage and ensure that consumers do not get cheated while buying gold ornaments.
Bureau of Indian Standards (BIS):
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