Kalyan Jewellers on enforcement of mandatory hallmarking of gold jewellery. With the Indian government all set to enforce the new guidelines of mandatory hallmarking of gold jewellery and artefacts on 15th June 2021 (tomorrow). In line with this, please find below the quote attributed to Mr. Ramesh Kalyanaraman, Executive Director – Kalyan Jewellers on this announcement that will ensure consumer protection:
“At Kalyan Jewellers, we have championed the need for BIS hallmarking over the years. We became one of the pioneer brands in India to voluntarily sell 100% BIS hallmarked gold jewellery across our showrooms. We believe that the practice is critical in our efforts to empower customers through benchmark-setting experience, innovation and transparent pricing, a focus we will continue to hold dear in the years to come.
We welcome the government’s decision to implement mandatory BIS hallmarking for jewellers across the country. We are looking at this as one of the landmark decisions that will change the way the industry has been functioning in India for a very long time. Mandatory hallmarking will standardize the purity of gold jewellery and take the industry a long way towards being more structured as well as further push the ongoing shift of business and customers from the unorganized to the organized jewellery segment. More importantly, the new regulatory framework will ensure that customers get a fair value for their new jewellery purchases as well as their exchanged or collateralized old gold.”