'Expect 300 more gold hallmarking centres after new law'
With the central government approving a proposal making hallmarking of gold mandatory, at least 300 more hallmarking centres would come up in the country, once parliament passes the law, a trade representative said here Thursday.
"Parliament is likely to pass a law making hallmarking for gold mandatory, soon. Once the law is enacted, at least 300 more hallmark centres would come up across the country," said Indian Association of Hallmarking Centres president Harshad Ajmera.
The central government in January approved a proposal making hallmarking of gold mandatory.
The hallmarking of gold, which is voluntary now, is a purity certification of the precious metal.
At present there are a little over 200 hallmarking centres in the country.
"Parliament is likely to discuss the bill anytime soon and we hope the bill will be duly passed and the relevant law would come into existence as soon as next year," said M.P. Chakraborty of the Bureau of Indian Standards.
"After the law is enacted, hallmarking would be implemented in a phased manner starting with the four metropolitan cities which will later be spread to the rest of the country," added Ajmera.
However, the head of a jewellers' body resolved to oppose the move saying the implementation of hallmarking in a phased manner will create problems.
"If hallmarking is made mandatory in the metro cities first, wouldn't that hamper the business of the jewellers living in rest of the country? If it has to be implemented then it has to be done in a one go," said Bablu De, president Swarna Shilpa Bachao Samity (Save Gold Traders Committee).
"If the hallmarking is implemented in a phased manner we will oppose the move," added De.