What is Hallmarking?
Proportionality of precious metal in gold/silver article. There is an accurate determination and official recording of the precious material present in the precious metal article. Hallmarking is a symbol of guarantee of the purity or fineness of precious metal articles in many countries. The official symbols used in the Mains of Hallmarking Scheme, the objective is to protect the public against manufacturers’ adulteration and maintain legal standards of beauty.
History
The history of gold jewellery in India dates back 5000 years. It is the desire and dream of every woman to adorn herself with jewellery. In India, jewellery has both traditional and aesthetic value and financial value. It is also considered a source of protection in times of crisis. Every year, India consumes about 850 metric tonnes of gold and is the second largest consumer of gold after China. The major use of gold is for jewellery and other decorative purposes. From childbirth to marriage. Jewellery has great importance in the livelihood of Indians. This is the reason Government Uses Hallmarking for controlling and checking the purity of gold jewellery.
To verify the amount of precious metal in gold and silver coins hallmarking has been practised in the country for hundreds of years in European countries. It was set up to verify the precious metal used in gold and silver coins, later it was transferred to India and extended to jewellery.
Hallmarking Bureau of Indian Standards (BIS), a statutory body under the Bureau of Indian Standards Act, 2016 governed by the organization. The mandatory condition of hallmarking has been implemented only in 256 districts in India but it has wide acceptance among consumers.
Legal Status of Hallmarking in India
BIS system of hallmarking of gold jewellery was in April 2000 and was launched in December 2005 for silver jewellery. Indian Bureau of Indian Standards (BIS) Act 2016 to Bureau of Indian Standards Repealed with effect from October 12, 2017. Act 1986, Bureau of Indian Standards for effective regulations of the Act (Hallmarking) Regulations, 2018 have been made effective from 14th June 2018.
Keeping in view the interest of the consumers, the Government is in the process of making hallmarking mandatory all over India. Recently, the government has revamped the BIS website and also launched an awareness campaign through advertisements in print and digital media, the idea being to bring in more transparency and rebuild trust and confidence among consumers. Against this background, we need to understand hallmarking and its impact on the gems and jewellery industry.
Definitions:
Jeweller: Jeweller is a person who is responsible for Jewellery Hallmarking from the hallmarking centre.
Hallmarking Centre: Place where hallmarking is done.
Bureau of Indian Standards (BIS): The scheme of hallmarking is controlled and regulated. BIS is responsible for the implementation of Hallmarking Act.