Page 20 - Bullion World Issue 4 August 2021

Bullion World | Issue 04 | August 2021

old and new stock lying at the shops, of the delay in getting the amendments HUID hallmarking shall go up by 60%,
is way below the numbers or tonnes incorporated into the HUID software., making the HM centres in India capable
of jewellery projected by the trade which is now sorted out. of hallmarking around 5 lakh pieces or
Associations, because of the various 5 tonnes of jewellery per day., hopefully
relaxations announced by the Ministry of When only a minority of the jewellers before the impending Diwali festival
consumer affairs for the jewellery trade and shops in the country as above are period . The stake holders are working
with only 80,000 jewellers covered under hallmarking around 3 to 4 tonnes of tirelessly to ensure a trouble free HUID
BIS license, only less than 20% of the 4 jewellery every day, or 1000 tonnes of hallmarking era for the jewellery trade in
lakh to 5 lakh jewellers in the country jewellery per annum , there appears to the months to come .
are now bringing items for HUID marking be some mismatch in the overall volume
of jewellery business in the country . This
with only 256 districts under mandatory mismatch may mostly be attributed to James Jose is the Managing
hallmarking, around 65% of the the unexpected volumes coming from Director of CGR Hallmarkers Pvt
geographical the existing non hallmarked jewellery Ltd, Cochin, the first Hallmarking
stock lying at the shops, so as to convert centre in the country. Past
secretary of Indian association
area of the country do not bring articles them to hallmarked category ,before
of hallmarking centres and
for HUID hallmarking the deadline of August 3, 2021. Data
now President of Hallmarking
available at the BIS portal also indicate Federation of India (HFI) .
By exempting small traders of below that majority of the hallmarking centres
Rs.40 lakhs turnover and below 2 gm are hallmarking only around 200 pieces
items and kundan, polki, jadaau items in a shift ,with one set of machines,
etc from mandatory Hallmarking, due to a variety of infrastructural and
majority of the artisans and rural area manpower bottlenecks. However their
shops do not have items for HUID volumes are expected to go up to 500
marking. pieces in a shift as and when the initial
birth pangs of HUID hallmarking are
Eventhough the new karatages of 20, sorted out and settled. With the HUID
23 and 24 KS are recently permitted to portal getting more automation of data
be hallmarked, the real volumes in these uploading to and from the machines at
karatages have not come in because the HM centre, the productivity levels of

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