Tuesday, 20th July 2004 (4520 views)

An Indian jeweller has set up a new scheme to boost the amount of high carat jewellery in the country.

Tanishq, part of the Tate group has started the '19K=22K' scheme to allow consumers to exchange under caratted jewellery to 22 carat assured jewellery.

According to Chennai Online, the company argues the move is a response to the current market, which is "laden with under caratage jewellery", with 80 per cent selling 13-18 carat gold jewellery as 22 carat.

Tanishq Regional Business manager (South) Yashwanath Kumar argued that: "Consumers lost an estimated Rs 8,000 crore being cheated by under-carat jewellery being sold as 22K".

The new scheme runs until August 8 next year and was launched by south Indian film actress Shobana.

Jewellery in India is said to be worth around Rs 40,000 but there are reportedly a large number of jewellers selling without any accountability.

 

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