India
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BIS raises gold hallmarking fee 67% to ₹75 per article
Livemint··19 Sept
India's jewellers face higher hallmarking costs before the festive season. The Bureau of Indian Standards raised the gold hallmarking fee 67% to ₹75 per article from ₹45 on September 14. Amit Modak of Reva Diamonds said the ₹30 rise multiplies across large volumes. Gold traded near ₹1,57,860 per 10 grams on Friday. BIS mandates hallmarking in 392 districts.
Prism
What It Means For You
- Retailers absorbing the fee rather than passing it on face higher per-piece compliance costs.
- Supriya Kataria said Kumari Fine Jewellery will charge the notified fee at actuals without margin.
- Rajesh Rokde said customers resist small hallmark charges on large jewellery orders.
What's Happening
- Modak suggested a lower fee slab for articles below a certain weight after consultation.
- Darshan Chauhan said Sky Gold sees limited impact on pieces priced around ₹5,000-10,000.
- Crisil projected India's jewellery retail volume could fall 13-15% to 620-640 tonnes this fiscal.
Hallmarking coverage across districts
- World Gold Council data showed June quarter jewellery demand fell 15% year on year to 75 tonnes.
- Rokde said associations were not adequately consulted before the September 14 notification.
- Higher gold prices have pushed buyers toward lighter and exchange-driven purchases.
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