India joins global jewellery hallmarking convention
Hallmarking of jewellery in India at globally recognised centres will be acceptable in 18 countries, with the country on day deciding to join an international convention on precious metals.delhi Updated: Jul 08, 2010 16:06 IST
Hallmarking of jewellery in India at globally recognised centres will be acceptable in 18 countries, with the country on day deciding to join an international convention on precious metals.
The decision on accession by India to the Convention on Control and Marking of Articles of Precious Metals, known as the Vienna Convention, 1972, was taken by the Union Cabinet in New Delhi.
India will be the 19th country to join the league.
"Accession to the convention will result in technological upgradation of the country's assaying and hallmarking centres and their recognition by the members of the Vienna Convention," Information and Broadcasting Minister Ambika Soni told reporters after the Cabinet meeting.
She said the decision would also facilitate jewellery exports from the country.
Gems and jewellery are the largest contributors to India's exports. Exports in the segment aggregated USD 29 billion in 2009-10.
With this decision, India's jewellery exports to Austria, Cyprus, the Czech Republic, Denmark, Finland, Great Britain, Hungary, Ireland, Israel, Latvia, Lithuania, the Netherlands, Norway, Poland, Portugal, Sweden, Switzerland and Ukraine will not be subject to further tests of purity once they carry the Common Control Mark (CCM) of domestic testing centres.
"The higher level of consumer awareness about the purity of jewellery articles will make the jewellers in India more accountable to the Indian consumers," Soni said.