The Bureau of India Standards had announced prohibition of sale of hallmarked gold jewellery or gold artefacts without the HUID number from April 1, which is seen as a step to safeguard and protect the consumers. Malabar Gold & Diamonds has expressed its approval of the Union Ministry of Consumer Affairs's decision to implement this regulation.

Giving a gift whether at the wedding or other special events is an integral part of Indian culture. Both the giver and the receiver attach high value and sanctity to this act. And the present generation is increasingly fond of giving gold as a precious gift at the auspicious occasions.

The decision by the Union Ministry of Consumer Affairs not to allow the sale of gold ornaments without HUID (hallmark unique identification) number from April 1, 2023 is a game changing moment and will reform the way gold is sold in the market.

The biggest advantage of this reform is that it will ensure that the customer gets pure gold. The customer interest is protected fully by way of the HUID, stamped on each piece of jewellery at the Assaying and Hallmarking centres to testify the purity.