Jewellers bat for standardisation in hallmarking of gold
GJC Chairman Anantha Padmanabhan said annual turnover of gem and jewellery industry is around Rs four lakh crore.
Kolkata: Major jewellers in the country have appealed to the consumer affairs ministry for allowing standardisation in hallmarking of gold of various purity measures.
"At present, there are three categories of purity, which are allowed for hallmarking -- 14, 18 and 22 carats," Shankar Sen, vice-chairman, All India Gem and Jewellery Domestic Council (GJC), said in a statement on Monday.
GJC and other associations have appealed to Consumer Affairs Minister Ram Vilas Paswan to also consider bringing 20, 23 and 24 carats in the purview of hallmarking, along with coins and bars in the 24-carat purity.
Talking about the ongoing Lok Sabha polls, GJC Chairman Anantha Padmanabhan said when the the model code of conduct is in force, there is a need for a standard operating procedure (SOP) regarding the seizure of gold in transit, based on valid documents.
He said the annual turnover of the gem and jewellery industry is around Rs four lakh crore, which is expected to double in the next couple of years.