India is set to introduce mandatory hallmarking for all gold bullion, including imports, starting next year, according to a report by the Times of India (TOI). This regulation is aimed at ensuring the purity of gold products across the country.
“There is a consensus among all stakeholders, and we are confident about making hallmarking compulsory for gold bullion next year,” said Pramod Kumar Tiwari, Director General of the Bureau of Indian Standards (BIS), in an interview with TOI. He added, “There is agreement that any gold entering the country must adhere to our mandatory standard norms. The sub-committee has already submitted its report on the matter.”
The new regulation will require hallmarking for all gold bullion used in manufacturing gold jewellery and artifacts sold in India. However, gold bullion used by jewellers to craft their own jewellery and artifacts will be exempt from this rule. Existing assaying and hallmarking centres will be authorised to test the gold bullion under the new standards.
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