Jewellery exporters seek clarification on exemption from mandatory hallmarking
GJEPC chairman Colin Shah said operational challenges brought on by the fact that all exporters maintain common inventory for both export and domestic streams.
New Delhi: Gems and jewellery exporters body GJEPC on Tuesday said it has sought clarification from the government on certain issues pertaining to exports under the mandatory hallmarking provisions. The Centre on Monday further extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15 in view of the Covid-19 pandemic. GJEPC (Gems and Jewellery Export Promotion Council) said while the hallmarking order excludes exporters, the authorities should explicitly clarify that jewellers having transactions only in the export stream are completely excluded from the purview of this order.
GJEPC chairman Colin Shah said operational challenges brought on by the fact that all exporters maintain common inventory for both export and domestic streams. The storing of fully manufactured specified gold articles should not require compliance with the hallmarking provisions, except prior to the domestic sale, he said.
K Srinivasan, convener, Gold Panel, GJEPC said: “As Indian hallmarked articles 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”. The purchases made by foreign buyers at domestic exhibitions are tantamount to export sales and should therefore be outside the purview of the hallmarking order, Srinivasan added.
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