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India mandates unique ID for gold jewellery: How it impacts jewellers and buyers

Starting April 1, 2023, the Indian government has mandated the use of a six-digit alphanumeric code, the Hallmark Unique Identification (HUID) number, for gold jewellery and other related items. Experts believe that this move will boost consumer confidence by improving the quality of gold jewellery sold in India, which is one of the world's top gold markets.

The HUID will also help control unaccounted transactions and create a purity standardisation across the country. While there were apprehensions as to whether old jewellery would need to undergo changes, consumers are free to hold their jewellery without alterations. However, if they wish to sell or exchange them, jewellers will accept old jewellery. This move may eventually lead to the mandating of hallmarking for silver as well.

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