Gold 'Hallmarking' in India

Indian gold traders and jewellers are protesting the impending 'Hallmarking' regulations. Hallmarking is the process by which jewellers will have to certify the purity of gold they sell in jewellery. This regulation is expected to come into force on 1 January 2008. Traders/jewellers are up in arms claiming that the regulations have been put together without consulting them and operational issues such as limited testing centres will make it very onerous for them. In addition, they are not happy with the penalties suggested in the regulation.

This is obviously an excellent regulation from a consumer perspective. Resistance from traders/jewellers is to be expected. However, the government must persevere to create this much needed transparency for consumers.