Sunday, April 27, 2025

Compulsory hallmarking of gold bullion not mandatory from July 1, consultations on

Date:

Share post:

New Delhi, May 7:The compulsory hallmarking of gold bullion is not going to become mandatory from July 1 as the Centre has only begun consultations with stakeholders.

Consumer affairs ministry sources said that there is a lot of confusion over the fact that compulsory hallmarking is going to come into effect from July 1 onwards on gold bullion, which is not the case.

“Mandatory hallmarking is not going to come into effect from July 1 onwards for gold bullion. The process to make it compulsory has only just begun,” highly placed sources informed IANS.

A sub-committee has been formed to initiate the process, and discussions with all the stakeholders are going on, the sources added further.

Bureau of Indian Standards (BIS) chief Pramod Kumar Tiwari had said in March this year that the government plans to make hallmarking of gold bullion mandatory and is ready with the draft guidelines.

Sources further informed that discussions with stakeholders are going on to finalise the guidelines.

Gold bullion is used as a raw material for manufacturing of jewellery and its purity is paramount, considering the large volume of jewellery.

Hallmarked gold bullion will help in ensuring the desired purity of gold jewellery being manufactured in the country.

India is the world’s largest consumer and importer of gold. The country imports about 700-800 tonnes of gold annually. (IANS)

Related articles

Civilian shot by gunmen succumbs, 10 terrorist houses demolished in Kashmir

Srinagar, April 27 : A social activist, who was shot at by unknown gunmen in Jammu and Kashmir's...

Army Hospital performs its first minimally invasive glaucoma surgery

New Delhi, April 27: In a first and a unique milestone for the Armed Forces, the Department of...

Pak media highlights CM Siddaramaiah’s ‘no war’ remarks, K’taka BJP says ‘puppet of enemy nation’

Bengaluru, April 27 : Following the Pakistan media playing up the comments of Chief Minister Siddaramaiah on not...

Pak’s old habit to talk nonsense: BJP leader on Bilawal Bhutto’s threat over Indus treaty

New Delhi, April 27 : Amid escalating tensions between India and Pakistan in the wake of the April...