Whalesbook
Silver Hallmarking Mandate on the Horizon
The Bureau of Indian Standards (BIS) is moving towards making hallmarking mandatory for silver jewelry across India. Director General Sanjay Garg confirmed that the decision hinges on the readiness of the necessary infrastructure to support such a nationwide system. This initiative mirrors the successful mandatory hallmarking for gold.
Hallmarking serves as a crucial certification, assuring consumers of the precious metal's declared purity. It guarantees the metal's fineness, includes the BIS logo, the jeweller's identification mark, and often a unique Hallmarking Unique Identification (HUID) number. This system is designed to significantly reduce the risk of fraud and the sale of low-quality products.
Progress and Consumer Benefits
BIS has already enforced mandatory hallmarking for gold in 373 districts, with over 58 crore gold pieces hallmarked to date, processing more than one crore pieces monthly. For silver, the hallmarking process has begun on a voluntary basis since September 1. Currently, over 2.3 million silver items have been certified under the HUID-based system, allowing buyers to verify purity before purchase.
Once implemented, mandatory silver hallmarking is expected to extend coverage to more districts and retailers. This will make it easier for consumers nationwide to identify certified, high-quality silver products, fostering greater trust and transparency in the market.