India's Jewellers Face Higher Hallmarking Costs Amid Festive Season

The Bureau of Indian Standards (BIS) has increased the gold hallmarking fee by 67% to ₹75 per article from ₹45, effective September 14.

This decision comes at a time when consumers are opting for lighter jewelry due to high gold prices. The new fee structure may disproportionately affect smaller pieces like earrings and pendants.

Amit Modak, CEO of Reva Diamonds by P.N. Gadgil & Sons Ltd, said the increased cost would be significant for retailers hallmarking a large number of articles. He suggested considering a lower fee slab for lighter articles to mitigate the impact.

Jewelers are concerned about explaining the additional charge to customers and its effect on sales. The industry is calling for a review of the fee, citing uneven coverage of mandatory hallmarking across districts and potential for fake hallmarking.