Our report discusses:
- guidelines under mandatory hallmarking
- the hallmarking unique ID (HUID) system, transitional issues with HUID and its current status1
- likely developments following the implementation of mandatory hallmarking in India.
We believe that mandatory hallmarking will be positive for India’s gold market, improving transparency and giving consumers more confidence in the purity of the gold they buy. With no opportunity for under-carating, retailers may place greater emphasis on design and customer service enhancements. Mandatory hallmarking should boost the reputation of the Indian gold market and has the potential to increase jewellery exports.