India's gem and jewellery exports rise by 54.96% in February

Exports of C&P diamonds increases by 59.11%

Post By : Diamond World News Service On 17 March 2010 5:03 PM
Gold traders in Gujarat are apparently not enthusiastic about hallmarking of gold; a decision taken by the central government. Almost 5,000 traders from Saurashtra in Gujarat, have formed an association to protest against the Centre’s decision, as they find it expensive and difficult to implement.%%The Bureau of Indian Standard (BIS) had intended to create a standard of uniformity for the gold jewellery sold. It had proposed that recognized assaying and hallmarking centers be established across India, for which the Centre has allocated Rs 300 core. %%The drawback according to industry professionals, is the high fee of hallmarking and the lack of knowledge for these traders. Most of the traders being are illiterate, do not understand the procedures of hallmarking. Balwant Badani, President of the Rajkot Gold Jewelry Traders Association, mentioned that the license fee was high and unaffordable to many of the traders.

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