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GJEPC seeks clarity on export-related exemption from mandatory hallmarking

GJEPC seeks clarity on the export-related exemption from mandatory hallmarking. With mandatory gold hallmarking set to be implemented in India from June 1, jewellery exporters have urged the government to issue a clarification whether the same is applicable for overseas sales or not.

Apex body for jewellery exporters, the Gems and Jewellery Export Promotion Council (GJEPC) welcomed the implementation but sought clarity on certain issues pertaining to exports under the hallmarking provisions. The demand representation was submitted to  Piyush Goyal, Union Minister of Consumer Affairs, Food & Public Distribution.

While the hallmarking order excludes exporters, the GJEPC has called on the authorities to “explicitly clarify that jewellers having transactions only in the export stream are completely excluded from the purview of the hallmarking order.

The GJEPC chairman Colin Shah pointed out operational challenges brought on by the fact that all exporters maintain common inventory for both export and domestic streams. Shah noted that the storing of fully manufactured specified gold articles should not require compliance with the hallmarking provisions, except prior to domestic sale.

“As Indian hallmarked ornaments do not have acceptance outside India, any legal interpretation that requires an exporter to comply with the hallmarking provisions wholly or partially, will increase the transaction costs in the export stream, making gem and jewellery exports unviable,” said K Srinivasan, Convener, Gold Panel, GJEPC.

Purchases made by foreign buyers at domestic exhibitions like IIJS are tantamount to export sales and should therefore be outside the purview of the hallmarking order, he added.

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Mines to Market
Prashant Rathod
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