HUID: India's quest for GOLD PURITY EXCELLENCE
The Indian gold jewellery sector’s journey towards hallmarking has been long, slow and bumpy. Although voluntary hallmarking became available in April 2000, compromised gold was still widely sold in the market — a fact of which neither public nor government was ignorant. In June 2021, however, hallmarking became mandatory. Manufacturers, jewellers and consumers now must quickly come to grips with the new purity norms, which juxtapose a unique six-digit ID for each item with the utterly inadequate state of India’s hallmarking infrastructure. The Retail Jeweller weighs the pros and cons of this sharp turn in the current, mid pandemic moment, when the gems and jewellery industry is more dependent than ever on gold sales.