Latest news with #BISAct
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Business Standard
3 days ago
- Business
- Business Standard
Hallmarking for 9 carat gold gets green light: What it means for consumers
The government has approved hallmarking standards for 9 carat gold, making it officially part of the Bureau of Indian Standards' (BIS) hallmarking system. The notification was issued by the Ministry of Consumer Affairs, and the rule will take effect from this month, June 2025. What's happening: According to BIS, 9K gold must have a minimum fineness of 375 parts per thousand, and will now be subject to the same regulations as other gold categories. Jewellers and hallmarking centres must comply starting July 2025. Why it matters: Gold prices have surged to record highs in India, crossing ₹99,000 per 10 grams and briefly hitting ₹1,00,484 on the MCX. This has led to many consumers being priced out of the market. By making 9 carat gold (which costs roughly ₹38,110 per 10 grams, including GST) part of the hallmarking system, the government aims to: The background: Until now, hallmarking in India was permitted only for 24K, 23K, 22K, 20K, 18K, and 14K gold. The BIS hallmark certifies the gold's purity (measured in parts per thousand) and ensures consumer protection under the BIS Act, 2016. The absence of 9 carat gold from the list had limited jewellers' ability to sell lower-purity, affordable options with government-backed certification. That gap has now been filled. This development comes after a steep 60 per cent drop in gold sales by volume in June, the sharpest decline since the Covid-19 pandemic. Why have gold prices surged? Gold prices are surging due to a combination of global and domestic factors. Investors are turning to gold as a safe-haven asset amid heightened geopolitical tensions, particularly between the US and China, and growing political instability. A significant drop of over 4 per cent in the US Dollar Index this year has further boosted gold's appeal on the global stage. Central banks, especially in Asia, are increasing their gold reserves to diversify away from the US dollar, driven in part by concerns over political risks such as the freezing of Russian central bank assets. Additionally, the US Federal Reserve's interest rate cuts have made gold, which does not yield income, relatively more attractive. In India, domestic demand remains strong due to cultural and seasonal factors—key festivals in India traditionally see a rise in gold purchases, keeping demand high regardless of price trends. Industry speaks: Officials and industry leaders have welcomed the move as overdue and timely. 'We had been urging the government to introduce hallmarking of 9 carat gold for over a year,' said Surendra Mehta, national secretary, India Bullion & Jewellers Association (IBJA), speaking to The Economic Times. 'This will spur demand, especially in rural areas.' Suvankar Sen, MD & CEO of Senco Gold, added, 'It's a great initiative to make gold jewellery more accessible amid high prices. Modern designs come out smartly in 9K gold, and this move also supports innovation and exports.' The bigger picture: India is one of the world's largest consumers of gold, using 800–850 tonnes annually. Global factors, including inflation and geopolitical tensions like the Russia-Ukraine war, have driven up gold prices by over 25 per cent in the past year. Amid this, jewellers are increasingly turning to lower-carat jewellery to reduce production costs and attract budget-sensitive buyers, and hallmarked 9K jewellery could unlock new export opportunities, especially for lightweight, design-centric collections. What to watch out for: The new standard takes effect from July 2025, so not all jewellers may immediately offer hallmark-certified 9K gold. Consumers should look for the BIS hallmark and the fineness mark (375) when buying 9 carat jewellery. Gold watches and pens are now excluded from the BIS artefact definition; consumers should be aware that these items may not be hallmarked even if ma
Time of India
6 days ago
- Business
- Time of India
Govt brings 9 karat gold under mandatory hallmarking
The Bureau of Indian Standards (BIS) on Friday announced the inclusion of 9 Karat gold under the list of mandatory hallmarking categories, effective July 2025. The standard defines specifications for fineness and marking of gold jewellery and artefacts. Explore courses from Top Institutes in Select a Course Category Cybersecurity Others Product Management Technology Project Management MCA Data Analytics Management Public Policy Artificial Intelligence MBA Degree Design Thinking CXO Leadership Finance Data Science Data Science others healthcare Healthcare PGDM Digital Marketing Operations Management Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details With this inclusion, the list of hallmarking grades now comprises: 24KF, 24KS, 23K, 22K, 20K, 18K, 14K and now 9K (with minimum fineness of 375 parts per thousand). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Jewellers and hallmarking centres are required to comply with this addition under the BIS regulations, said All India Gem & Jewellery Domestic Council in a post on X. '9 Karat Gold (375 ppt) is now officially under mandatory hallmarking as per BIS Amendment No. 2 All jewellers & hallmarking centres must comply,' the council said. Live Events As per the amendment, 9 Karat gold, earlier not included in the mandatory hallmarking system, will now be brought under the same regulatory framework that ensures consumer transparency in purity standards. Welcoming the move, Suvankar Sen, MD & CEO, Senco Gold Ltd. called 9 kt hallmarking a great initiative by Govt. "9 kt hallmarking is a great initiative by Govt to make the diamond and gold jewellery more affordable and easier for the consumer to buy Jewleley in the high gold price. The modern Deisgns can come out smartly in the 9 kt and companies can continue to innovate with Deisgns and styles due to this imitative. It will also boost exports for future,' Sen said. The revised BIS standard also updates definitions and exclusions. Gold watches and pens have been excluded from the definition of artefacts. A gold coin under this specification is defined as a flat sheet of 24KF or 24KS gold produced only by mints or refineries and having no legal tender value. Hallmarking, governed by the BIS Act, 2016, certifies the proportionate content of precious metal in jewellery and artefacts. Hallmarking grades Sl No. Grade/Designations Declared Minimum Fineness in ppt Purity in Karat (K) ( Approximate ) (1) (2) (3) (4) i) 24 KF 999 — ii) 24 KS 995 — iii) 23 K 958 23 iv) 22 K 916 22 v) 20 K 833 20 vi) 18 K 750 18 vii) 14 K 585 14 viii) 9 K 375 9
The Hindu
6 days ago
- The Hindu
BIS officials seize 1.072 kg gold jewellery being sold without hallmark in Vijayawada
Officials of the Bureau of Indian Standards (BIS) conducted raid on a hallmarking centre and seized a fake laser marking machine used for putting Hallmark Unique Identification (HUID), and 1.072 kg of gold jewellery being sold without valid (HUID). Acting on a complaint on fake HUID, the team led by BIS Joint Director T. Arjun, conducted a raid on Sri Lakshmi Hallmarking Centre, located at Narsannapeta in Srikakulam district on Thursday night (July 17, 2025.) 'They found that a laser marking machine was being used for marking HUID, without having BIS recognition,' said BIS Vijayawada Director Prem Sajani Patnala. 'During investigation, it was revealed that the illegal HUID activity was linked to GNR Gold and Diamonds, located at Narsannapeta. Immediately, the BIS team seized the gold ornaments from the jewellery shop,' the Director said in a release on Friday (July 18, 2025.) 'A case under BIS Act, 2016 has been registered against the accused. The offence is punishable with imprisonment up to one year, or not less than ₹1 lakh fine,' Ms. Prem Sajani said. 'Consumers are requested to verify BIS Logo, Purity and HUID on BIS Care Mobile App by entering HUID number which purchasing gold jewellery,' Ms. Prem Sajani said.
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Business Standard
16-07-2025
- Business
- Business Standard
BIS seizes uncertified consumer goods in raid at Amazon hub in Vijayawada
BIS Vijayawada Director Prem Sajani Patnala said the raid was part of an ongoing effort to identify and stop the circulation of products that do not comply New Delhi The Bureau of Indian Standards (BIS) Vijayawada carried out a raid at Amazon's warehouse in Kandrika, located in Andhra Pradesh's NTR district, and seized a large stock of uncertified consumer goods. These included electronics, kitchenware, toys, ceiling fans, footwear, and more, according to an official statement released on Wednesday. The enforcement operation took place on July 15. BIS Vijayawada Director Prem Sajani Patnala said the raid was part of an ongoing effort to identify and stop the circulation of products that do not comply with Quality Control Orders (QCOs). 'Based on actionable intelligence and digital tracking, it was discovered that several e-commerce platforms are helping sell and distribute uncertified and potentially dangerous goods,' the press note said. BIS is currently running a nationwide campaign to stop the sale of non-compliant products. Violation of BIS Act, 2016 Patnala confirmed that the seized items did not have the required BIS certification or registration under the Compulsory Registration Scheme. This is a violation of Section 17 of the BIS Act, 2016, which bars the sale, display, or storage of goods without the proper standard mark. Unsafe goods promoted via e-commerce She stated that these platforms "are enabling the circulation of uncertified and unsafe goods". Patnala also explained that the seized items would either be destroyed, scrapped, or made unusable, depending on the category. "For example, BIS drills holes in cookers, stoves, and steel products. Gold is melted, but only after court approval", she said. She also revealed that many sellers listed on e-commerce sites provide fake or non-traceable addresses, often linked to residential areas. Holding platforms accountable "We thought we had to catch hold of the platform, they will lead us to the actual manufacturer," she said. BIS has now decided to hold e-commerce companies directly accountable. 'Everyone making a profit should be made responsible,' she added. Previous actions of BIS against e-commerce platforms This is not the first raid. This action follows recent similar raids on Flipkart, E-Kart, and Meesho in Krishna district. On March 20, 2025, BIS found multiple items lacking mandatory certification during recent raids in various warehouses of e-commerce platforms Amazon and Flipkart. Speaking on this, the government body said it took this step in a bid to enhance consumer safety from potentially hazardous products. Raids were conducted in a series at Amazon and Flipkart warehouses in Gurgaon, Lucknow, and Delhi, and more than 7,000 substandard items, including electric water heaters, toys, blenders, bottles, and speakers that were found to be without the BIS standard mark, were seized. On March 26, 2025, BIS conducted a search and seizure operation at a warehouse of Amazon located in Airport City, Shamshabad, for violation of the provisions. Here, it seized 2,783 "uncertified" consumer products. These products were estimated to be worth more than Rs 50 lakhs, as per BIS.
Time of India
16-07-2025
- Business
- Time of India
Over 25 categories of uncertified goods seized in BIS raid on e-commerce firms
The Bureau of Indian Standards (BIS) on Tuesday said it had seized a large consignment of uncertified consumer products from e-commerce platforms Flipkart , E-Kart , and Meesho in Krishna district, Andhra Pradesh, emphasising that several platforms are "facilitating the sale and distribution of hazardous goods". The BIS is conducting a nationwide enforcement campaign to curb the sale of non-certified and unsafe products that violate provisions of the Quality Control Orders (QCOs). As part of this drive, the BIS Vijayawada branch carried out a raid on July 14 at Mustabad village in Gannavaram mandal, targeting the three platforms, an official press release said. "The BIS Vijayawada Branch Office conducted a major raid on prominent e-commerce platforms-Flipkart, E-Kart, and Meesho. During the operation, officials seized a large consignment comprising over 25 categories of consumer products," said Prem Sajani Patnala, Director & Head, BIS Vijayawada. The seized products included electronics, LED bulbs, toys, and table fans-all in violation of Section 17 of the BIS Act, 2016, Patnala said. Based on actionable intelligence and digital surveillance, it was found that several e-commerce platforms are enabling the sale of uncertified and potentially hazardous products, the release added. These items, lacking valid BIS certification , were being sold in violation of mandatory QCOs and relevant provisions of the BIS Act, posing serious risks to consumer health and safety , Patnala said. Section 17 of the BIS Act prohibits the sale, storage, or display of goods without the standard mark, while Section 29(3) provides for imprisonment of up to three years and fines up to Rs 10 lakh, or up to ten times the value of the seized goods. In applicable cases, violations under Section 79(2)(c) of the Information Technology Act, 2000, and Rule 3(b)(iv) & (v) of the IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, will also be invoked for failure to exercise due diligence by the platforms, Patnala added. With over 800 products falling under mandatory BIS certification, all such goods must bear standard marks-such as ISI, CRS, Hallmark, or relevant system marks-and be sold only by licensed entities. Manufacture, storage, or sale of uncertified goods is punishable under law. Patnala urged consumers to use the BIS Care app to verify certification details and report misuse of BIS marks, assuring that BIS will continue proactive enforcement and consumer outreach efforts.
