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India's hallmarking initiative has achieved a significant milestone with over 40 crore pieces of jewellery hallmarked since its inception, as announced by Nidhi Khare, Secretary, Department of Consumer Affairs.
Speaking at the Gems & Jewellery Conference organized by the Confederation of Indian Industry (CII) in New Delhi, she highlighted hallmarking's transformative impact on the jewellery industry by ensuring quality, transparency, and consumer trust. Khare emphasized the mandatory implementation of the six-digit unique ID hallmarking system, which has improved traceability and quality assurance across the entire value chain. "Hallmarking has revolutionized the jewellery industry by instilling trust and transparency. The mandatory implementation of the six-digit unique ID hallmarking system ensures quality, traceability, and consumer confidence across the entire value chain," she stated. The Secretary announced that the government is preparing to mandate hallmarking for gold bullion, a step aimed at ensuring the purity of gold products and safeguarding consumers against potential quality issues. Khare called on Indian jewellery manufacturers to create aspirational global brands, aligning their rich heritage with modern consumer preferences. Drawing parallels with centuries-old European brands, she encouraged Indian producers to leave a lasting imprint on the global market. Sabyasachi Ray, Executive Director of the Gem & Jewellery Export Promotion Council (GJEPC), said, "India's gems and jewelry industry has emerged as one of the most compliant sectors globally, adhering to high ethical standards and transparency through hallmarking, GST implementation, and the Kimberley Process for conflict-free diamonds." He added, "the success of FTAs with the UAE and Australia exemplifies how strategic economic diplomacy can elevate the jewellery industry. By focusing on high-growth regions and reducing export duties, India is creating a conducive ecosystem for scaling up global trade." G R Anand Ananthapadmanabhan, Co-Chair, CII Task Force on Gems & Jewellery and Managing Director, GRT Group said "India is known for making quality products quickly and affordably, and lab-grown diamonds are no exception. They open up new avenues in the global jewelry market, especially among younger buyers." Jaideep Ahuja, Chairman, CII Delhi State and Managing Director & CEO Ahuja Residency Pvt. Ltd. said "India's gems and jewelry industry serves as a cornerstone of the Aatmanirbhar Bharat initiative, blending heritage with modernity to cater to both domestic and global markets while maintaining a competitive edge." (ANI)
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