With government deciding to make gold hallmarking mandatory from 15, January, 2021, jewelers say that more hallmarking centers should come up to make initiative a successful one.
Mandatory hallmarking will increase the transparency and customer confidence in industry. key to successful implementation is going to be the elimination of fake hallmarking centers and rapid expansion in number of centers.
There are only 860 hallmarking centers in country. Each of these centers can handle 2000 pieces of gold jewelry per day. In FY19, around 450 tons of gold were hallmarked. India annually consumes 1000 tons of gold.
Jewelers said that they need more hallmarking centers to be set up so that hallmarking facility is made more accessible to jewelers.