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New hallmarking norms impact jewellery sector

New hallmarking norms are set to hit the jewellery sector from April 1 as per a government order issued earlier this month. The order states that gold jewellery with four symbol hallmarks cannot be sold unless they comply with the new norms. The norms, which came into force from July 2021, mandate that no one can sell or display gold jewellery or artefacts without the appropriate hallmark.

Jewellers will have to identify and segregate older jewellery with the old hallmark, which is expected to take at least two months. However, the industry is asking for more time, stating that the government is asking manufacturers and sellers to re-stamp hallmark in all jewellery with the old hallmark, which is almost impossible to achieve by April 1.

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