In a bid to combat the rising number of gold chain snatching incidents in India, the government has announced that 9 karat gold hallmarking will become mandatory for all jewelry. This move aims to address the growing concern over the authenticity and value of gold jewelry, which has made it a target for criminals. By making hallmarking mandatory, the government hopes to make stolen gold jewelry less desirable and ultimately deter crime.
Hallmarking ensures the purity and quality of gold, making it easier to identify genuine pieces. This, in turn, makes it more difficult for thieves to sell stolen jewelry, as it can be easily traced back to its original owner. The move is expected to have a significant impact on the gold jewelry market in India, potentially leading to a reduction in crime and increased consumer confidence in the authenticity of their purchases.
The decision to make 9 karat gold hallmarking mandatory was driven by the increasing demand for lower purity gold jewelry, which has been exploited by criminals. By raising the minimum purity standard for hallmarking, the government aims to discourage the use of lower quality gold in jewelry, making it less attractive to thieves. This measure is expected to be welcomed by both consumers and the jewelry industry, as it promotes transparency and accountability in the market.
