Hallmarking comprises stringent checks and controls for ensuring the quality and purity of gold is judiciously adhered to. Earlier, the government had announced to make gold hallmarking mandatory from January 1, 2008. At present, the Bureau of Indian Standards (BIS), a government agency, grants hallmark for gold as demanded on a voluntary basis.
On self-certification of jewellery, as demanded by a section of jewellers, Mansingh said Indian markets are "not mature enough to allow self certification". "Unless there is credibility in the certification and there is a statute it is not going to serve any purpose." Stressing on the need for the country to be a member of Vienna Gold Convention, Mansingh said, "In Vienna Gold Convention our objective would be wider.
We want the assaying business of the world to come here." He said, India accounted for 1.5 per cent of global gold jewellery export.
"The moment we have credible market and we are a member of Vienna Gold Convention there is great potential for the global share of exports to come here.
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