Only 10% of Indian jewellers opt for hallmarked gold ahead of wedding season
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Synopsis
If hallmarking is not done by the deadline, jewellers will not be able to continue their business. Small jewellers in tier 2 and tier 3 cities and in rural areas are particularly vulnerable while large organised retail chains stand to gain.
Kolkata: Barely 10% of about 300,000 jewellers in the country have opted for hallmarked gold, for which the government has extended the deadline to June 1 from January 15. As a result, many families may not be able to buy hallmarked jewellery in the wedding season.
This year, April, May and June have the highest number of marriage dates, with May alone having 15 auspicious days for wedding. Many marriages that were postponed last year due to the pandemic have been rescheduled to this year.