Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Industry News

| More

All India Gems & Jewellery Trade Federation opposes Hallmarking certicard

Posted On: 2013-10-15 21:39:40

The All India Gems and Jewellery Trade Federation (GJF) has opposed the national standards body Bureau of Indian Standards proposal to issue a certicard for the jewellery retailers in metropolitan cities for every piece of jewellery sold. In a letter written to Hon. Minister of Consumer Affairs Mr. KV Thomas, GJF's Chairman Mr. Haresh Soni has called the proposed BIS Hallmarking move 'cumbersome', 'impractical', 'expensive' and 'time consuming' and earnestly requested the policy makers to take the jewellery industry into confidence while framing rules or changing them. GJF has always supported BIS initiatives in improving the Hallmarking system in India and has made several representations to the Ministry and Director General of BIS to explain some industry apprehensions on the matter.

Mr. Haresh Soni, Chairman, GJF, said, "GJF has always cooperated with BIS but the proposed move to make jewellers in metros issue a certicard with each piece of jewellery along with its photograph and unique identification mark is highly unviable and not customer-friendly. The cost of each piece of jewellery will increase due to the additional cost burden of Rs. 125-150 for issuing one certicard. In case of mass produced jewellery, it is impossible to hallmark each piece of jewellery and issue a certicard for each one of them."

Mr. Soni pointed it out to the Minister that "It is practically an uphill task for the jeweller to maintain thousands of such certificates in jewellery stores and retrieve the same at the time of delivery of the product to the customer. This process will in fact discourage the jewellers to avoid hallmarking jewellery as it is expensive and these Centres may also not follow the standard procedures, which may lead to unhealthy practices. This will put additional burden of vigilance on BIS. As discussed earlier, many Hallmarking Centres do not have the facility of Hallmarking but have been allotted licence and marking jewellery at their free will. In some case, A&H licence has been issued to jewellers, which will defeat the cause and purpose behind Hallmarking."

In his letter, GJF Chairman also pointed out to the Minister that BIS had formed two Committees to improve the Hallmarking system in the country but the first meeting of the above Committees were held separately on two different dates! Mr. Soni recommended that the two BIS Committees should be merged and a joint meeting should be held so as to get a complete picture of the situation on ground. Moreover, a key point here is that Hallmarking Centres should reject the jewellery in case if the jewellery is found of below standard.

Bachchraj Bamalwa, Director & ex-Chairman of GJF, said, "Certificates will surely bring trust. But trust for only metro consumers? Why does the government not implement the law across the country at one go? Metros constitute 25-30 per cent of jewellery sales. Attempts to sell even legitimate jewellery items bought elsewhere will be difficult even in consumers' urgent need of money. Hence, many consumers' emergency will be affected badly despite having adequate jewellery wealth in store. For jewellers, however, it will have a multiplier impact. They hold between 5,000-10,000 pieces of ornaments of various types in inventory every time in festival seasons. Certificate with every item would mean equal number of careful paper handling, which is impossible." The need of the hour is to tighten the bolts on hallmarking centres. Hallmarking process has to be completely overhauled before taking a step further. It is the hallmarking centres and the process which should be fine tuned. It is my earnest request to the Hon. Consumer Affairs Minister to take the hallmarking process in India to take it to the next level by making it mandatory for all hallmarking centres to be enable compliant so that a piece of jewellery hallmarked in India can be accepted by any other country in the world. It is not so at present. We firmly believe that jewellers and the industry can only survive if consumers are protected and we are determined to protect the consumers.

GJF has already unveiled the Trust Mark Model (TMM), a unique 'Business Excellence Model' initiative that will help G&J members to grow their business and become more efficient. The Trustmark is exclusively designed by ISOQAR for GJF. It is an exclusive model for business growth through implementation of systems & processes & practices for growth and managing risks.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

New HFS report recognizes Cognizant for 'Simplifying Healthcare'

National Life Transforms Customer Experience Program with Cognizant

ETMONEY becomes India's first comprehensive financial services app to integrate UPI

India pharmaceuticals market expected to reach USD 73.5 billion by 2023

Engineers Alert: Zomato opens registrations for its 'Trial Week'

Wadhawan Global Capital sells stake in Avanse to Warburg Pincus

ICAI Postpones May, 2019 CA Examinations

MSE 'Financial Inclusion' Drive in Goa in a bid to Boost Participation from Tier II, Tier III Cities & Rural Areas

Vikram Solar commissions 200 MW solar project for APGENCO

Cognizant Names Brian Humphries as CEO, Succeeding Company Co-Founder Francisco D'souza

Harish Natarajan appointed as the new President and COO of Strand Life Sciences

ICAI Celebrates Platinum Jubilee Annual Function

ICAI signs MoU with Invest India to promote Foreign Investment

Tata AIA Life Insurance celebrates the Centennial Year of AIA

Twenty14 Holdings Marks Entry into Switzerland with new IntercityHotel at Zurich Airport

ICAI signs MoU with ICPA of Kenya

Sathguru Management Consultants advises Pravesha Industries to divest majority stake in Crest Cellulose to Roquette Freres, SA

Saurashtra Freight Pvt. Ltd. charts out growth strategy

Toffee Insurance announces India's First Cyclist Insurance

Whitecaps flags of their 6 month excellence program in cake making

Home Credit India offers attractive customer-focused schemes across Lenovo and Motorola smartphone range

MyLoanCare rolls out a free loan portfolio management system

Auto LPG sector grows impressively; clocks 14% growth in sales

'India Cold Chain Show 2018' showcases innovative cooling solutions in Mumbai

ZestMoney partners with Xiaomi to provide financing options at Mi Home stores

Jana Small Finance Bank launches Jana Bankable Debit Card

GoAir announces Kannur as its 24th domestic destination

InterGlobe Foundation initiates Heritage Restoration and Waste Management In Rajasthan

eMudhra becomes an Executive Member of the Cloud Signature Consortium

ECGC chairs meeting of CEOs of ECAs of Asia Pacific Regional Cooperation Group in Mumbai

Fincare SFB posts 99 percent AUM growth, Rs.42.3 crore profit in H1 FY 2019

Future Generali India Life Insurance introduces a new age ULIP, Future Generali Big Dreams Insurance Plan

Honda 2Wheelers India drives Skill India Mission in Tamil Nadu

Indian biosimilar market to be worth $40 billion by 2030

Rane NSK Opens New Facility for EPS at Gujarat

GoAir reports highest OTP for second consecutive month!

ICAI signs MoU with CPA Canada

Square Capital Emerges as the Largest Integrated Mortgage Marketplace in India

Fresh impetus to the MSME sector - Acuité Ratings

GoAir's 13th Anniversary Offer: Up to 13 Lakh seats on sale at an all-inclusive price of Rs 1,313

India's plastics export jump 31.6% in H1 2018-19 to USD 4.59 bn

Homes worth Rs 1200 crore sold during Housing.com's Home Ustav 2018

Not just top 5 cities, now Tier III cities also contributing to retail participation in stock markets

Lighthouse invests 160 Crore in mattress company Duroflex

Kreditech licensed by Reserve Bank of India to operate as NBFC

Next Education partners with Capgemini as Edu-tech enabler

Co-origination lending: A potential solution to NBFCs' funding challenges

Honda 2Wheelers India expands its global footprint ahead of 2020

'All Weather Investing' - asset allocation with ETFs launched on smallcase.com

NPCI organises digital training workshops at 50 plus educational institutes on teacher's day







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019